United States Life-Annuity Consumer Markets 2021: Protection Gap has Widened to $23.4 Trillion – ResearchAndMarkets.com – Business Wire
DUBLIN–(BUSINESS WIRE)–The “2021: Life-Annuity Consumer Markets” report has been added to ResearchAndMarkets.com’s offering.
The Covid-19 pandemic has greatly affected the consumer market, with differing market segments being impacted in different ways both in increased mortality and economic disruption. This has created both opportunities and challenges for life-annuity insurers.
The life insurance protection gap has widened to a relatively large amount, $23.4 trillion, which is equivalent to over 60% of the current in force individual life insurance.
All three adult generations saw increased mortality, though most excess mortality for Baby Boomers came from Covid-19, while younger adults (Generation X and Millennials) had excess mortality driven by non-Covid-19 causes, potentially a result of economic pressure on these segments.
Three major cultural markets in the U.S. (Hispanics, African-Americans, and Asian-Americans) saw excess mortality disproportionate to the overall population, with some differences driven by differing geographic impacts. These three segments have long been underinsured compared to the rest of the U.S. consumer markets and are key to future insurer growth.
Readers can use this report to:
Understand how the Covid-19 pandemic has created opportunities and challenges for life-annuity insurers across different market segments
Learn about long-term demographic trends shaping the U.S. life annuity consumer market
Uncover why the life insurance protection gap keeps increasing
Analyze increased mortality rates stemming from the pandemic year, by demographic group
Define how the Hispanic, African-American, and Asian-American Consumer Markets are underinsured compared to the rest of the U.S. consumer markets
Key Topics Covered:
Measuring the Insurer Opportunity
Key Takeaways
Quantifying the Life Insurance Opportunity
Quantifying the Retirement Market Opportunity
Protection Gaps: Significance for Insurers
Putting the Pieces of the U.S. Market Together
Affluent and Middle Markets
Affluent and Middle Market Key Takeaways
Wealth and Income Growth Rates Drive Segmentation
Economic Segmentation of the Market
The Affluent Market
The Middle Market
Baby Boomers
Baby Boomer Key Takeaways
Generations and Life Stages
Covid-19 Impact
Demographic Profile
Shrinking Generation, Shifting Needs
Life Insurance Needs for Seniors
Retirement Income Opportunities for Insurers: Rising Tide
Opportunities and Challenges
Generation X
Key Takeaways
Sandwich Generation
Covid-19 Impact
Demographic Profile
Peak of Income, Peak of Pressures
Opportunities and Challenges
Millennials
Key Takeaways
Covid-19 Impact
Demographic Profile
Delayed Development – Lower Employment, Lower Income
Opportunities, Challenges, and Consumer Expectations
Hispanic Market in the U.S.
Key Takeaways
Covid-19 Impact
Demographic Profile
Geographic Distribution
Opportunities, Challenges, and Consumer Expectations
African-American Market
Key Takeaways
Covid-19 Impact
Demographic Profile
Geographic Distribution
Opportunities and Challenges
Asian-American Market
Key Takeaways
Covid-19 Impact
Demographic Profile
Geographic Distribution
Opportunities and Challenges
For more information about this report visit https://www.researchandmarkets.com/r/8vv78u
