U.S. Life Annuity Consumer Markets 2021: Measuring Insurer Opportunity

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DUBLIN, February 9, 2022 /PRNewswire/ — The “2021: consumer markets for life annuities” report has been added to from ResearchAndMarkets.com offer.

The life insurance protection gap has widened to a relatively large amount, $23.4 trillionwhich is equivalent to more than 60% of the individual life insurance currently in force.

Due to Covid-19, all three generations of adults experienced an increase in mortality, although the excess mortality of baby boomers was mainly due to Covid-19, while young adults (Gen Xers and millennials) had a excess mortality due to causes unrelated to Covid-19, potentially a consequence of economic pressure on these segments.

Three major cultural markets in the United States (Hispanics, African Americans, and Asian Americans) experienced disproportionate excess mortality compared to the overall population, with some differences due to different geographic impacts. These three segments have long been underinsured relative to the rest of the US consumer markets and are critical to the future growth of insurers.

Readers can use this report to:

  • Understand how the Covid-19 pandemic has created opportunities and challenges for life annuity insurers in different market segments
  • Learn about the long-term demographic trends shaping the US life annuity consumer market
  • Find out why the life insurance protection gap keeps growing
  • Analyze increased death rates resulting from the pandemic year, by demographic group
  • Define how the Hispanic, African American, and Asian American consumer markets are underinsured relative to the rest of the US consumer markets

Main topics covered:

Measure the opportunity of the insurer

  • Key points to remember
  • Quantification of the life insurance opportunity
  • Quantifying the Retirement Market Opportunity
  • Protection gaps: importance for insurers
  • Assemble the pieces of the American market

Affluent and Middle Markets

  • Main takeaways for the affluent and middle market
  • Wealth and income growth rates drive segmentation
  • Economic segmentation of the market
  • The rich market
  • The middle market

baby boomers

  • Baby Boomer Key Points
  • Generations and stages of life
  • Impact of Covid-19
  • Demographic profile
  • Reduction in generation, evolution of needs
  • Life insurance needs for seniors
  • Retirement Income Opportunities for Insurers: Rising Tide
  • Opportunities and Challenges

Generation X

  • Key points to remember
  • Sandwich Generation
  • Impact of Covid-19
  • Demographic profile
  • Peak revenue, peak pressure
  • Opportunities and Challenges

Millennials

  • Key points to remember
  • Impact of Covid-19
  • Demographic profile
  • Delayed Development – Lower Employment, Lower Income
  • Opportunities, Challenges and Consumer Expectations

Hispanic market in the United States

  • Key points to remember
  • Impact of Covid-19
  • Demographic profile
  • Geographic distribution
  • Opportunities, Challenges and Consumer Expectations

African American market

  • Key points to remember
  • Impact of Covid-19
  • Demographic profile
  • Geographic distribution
  • Opportunities and Challenges

Asian-American market

  • Key points to remember
  • Impact of Covid-19
  • Demographic profile
  • Geographic distribution
  • Opportunities and Challenges

For more information on this report, visit https://www.researchandmarkets.com/r/ah7l51

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SOURCE Research and Markets

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