Contact Us
Whole Life Insurance Global Market Report 2025
Global Whole Life Insurance Market Report 2025

Report Price : $4490.00

Pages : 175

Format : PDF

Published : January 2025

Delivery Time : 2-3 Business Days

Purchase This Report
Purchase This Report

Whole Life Insurance Global Market Report 2025

By Type (Non-Participating Whole Life, Participating Whole Life), By Application (Agency, Brokers, Bancassurance, Digital And Direct Channels) – Market Size, Trends, And Global Forecast 2025-2034

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

What Is Covered Under Whole Life Insurance Market?

Whole life insurance, often known as permanent life insurance, refers to life insurance plans that include an investment component and are designed to last until death. In contrast to term life insurance, which only covers a specified number of years, the insurance policy offers a death benefit when the policyholder passes away, as long as the appropriate payments are paid. A whole life insurance policy's premiums fund both an investment account and the policy's guaranteed death benefit.

The main types of whole life insurance are non-participating whole life and participating whole life. Non-participating whole life is one type of whole life insurance where policyholders do not receive dividends but premiums are generally lower. The various applications involved are agencies, brokers, Bancassurance, and digital and direct channels.

Whole Life Insurance Market 2025 - 2034

What Is The Whole Life Insurance Market Size 2025 And Growth Rate?

The whole life insurance market size has grown strongly in recent years. It will grow from $3928.21 billion in 2024 to $4269 billion in 2025 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to policy stability and guarantees, long-term financial security, legacy and estate planning, inflation hedge, conservative investment option.

What Is The Whole Life Insurance Market Growth Forecast?

The whole life insurance market size is expected to see strong growth in the next few years. It will grow to $5905.66 billion in 2029 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to personalized solutions, increased longevity concerns, wealth transfer and estate planning, health and wellness incentives, shift in consumer preferences. Major trends in the forecast period include customization and personalization, innovative product offerings, tech integration in underwriting, evolving customer preferences, wealth transfer and estate planning.

Customer representative image Book your 30 minutes free consultation with our research experts

How Is The Whole Life Insurance Market Segmented?

The whole life insurance market covered in this report is segmented –

1) By Type: Non-Participating Whole Life, Participating Whole Life

2) By Application: Agency, Brokers, Bancassurance, Digital And Direct Channels

Subsegments:

1) By Non-Participating Whole Life: Fixed Premium Non-Participating Whole Life, Level Death Benefit Non-Participating Whole Life, Universal Non-Participating Whole Life

2) By Participating Whole Life: Traditional Participating Whole Life, Limited Pay Participating Whole Life, Indeterminate Premium Participating Whole Life

What Is Driving The Whole Life Insurance Market? The Rising Aging Population Is Anticipated To Fuel The Whole Life Insurance Market

The rising aging population is expected to propel the whole life insurance market. The aging population refers to a demographic shift characterized by a rising proportion or increase in the number of individuals within a society who are in the later stages of life, typically aged 65 and older. Whole life insurance serves as a financial planning tool for the aging population, offering lifetime coverage, cash value accumulation, and potential estate planning benefits. For instance, in October 2022, according to the World Health Organization, a Switzerland-based Intergovernmental organization, projected that by 2030, one out of every six individuals globally would be 60 years old or older. During this period, the proportion of the population aged 60 and over is expected to rise from 1 billion in 2020 to 1.4 billion. Furthermore, by the year 2050, the global population of individuals aged 60 and older is anticipated to double, reaching 2.1 billion. Therefore, the rising aging population is driving the growth of the whole life insurance market.

What Is Driving The Whole Life Insurance Market? Increasing Urbanization Is Anticipated To Fuel The Whole Life Insurance Market

The increasing urbanization is expected to propel the whole life insurance market. Urbanization refers to the process by which rural areas become urbanized as a result of economic development and industrialization. Whole life insurance addresses financial needs in urbanization by providing stable, long-term coverage and investment components, catering to the evolving financial goals of urban residents. For instance, in April 2023, according to the World Bank Group, a US-based bank, reported that currently, more than half of the global population resides in urban regions. By 2045, this urban population is projected to surge to 6 billion, marking 1.5 times increase. Therefore, the increasing urbanization is driving the growth of the whole life insurance market.

Who Are The Major Players In The Global Whole Life Insurance Market?

Major companies operating in the whole life insurance market include China Life Insurance Company Limited, MetLife Inc., Ping An Insurance Company of China Ltd., Allianz Life Insurance, Axa SA, Generali Group, Munich Re Group, Zurich Insurance Group Ltd., Nippon Life Insurance Company, Japan Post Holdings Company Ltd., Berkshire Hathaway Inc., Manulife Financial Corporation, China Pacific Insurance Co. Ltd., Chubb Corp., American International Group, Aviva Plc., Allstate Corporation, Swiss Reinsurance Company Ltd., Prudential Financial Inc., New York Life Insurance Company, Massachusetts Mutual Life Insurance Company, Guardian Life Insurance Company of America, Penn Mutual Life Insurance Company, Ohio National Life Insurance Company, State Farm Mutual Automobile Insurance Company, Pacific Life Insurance Company, John Hancock Financial Services, Principal Financial Group Inc., Nationwide Mutual Insurance Company, Thrivent Financial for Lutherans

What Are The Key Trends Of The Global Whole Life Insurance Market? Technology Platform For The Whole Life Insurance Market

Major companies operating in whole life insurance are focusing on incorporating advanced technologies for simplified operations and strengthening their market position. For instance, in December 2022, Modern Life Insurance Group Inc., a US-based insurance group, announced the launch of its latest technology platform, where life insurance advisors can take advantage of a variety of cutting-edge tools and solutions from the new stack. These include the ability to manage all client and brokerage needs in one location, enhanced customer involvement, entirely digital applications, and comparison and pricing capabilities.

What Are The Key Trends Of The Global Whole Life Insurance Market? Comprehensive Insurance Product That Caters To The Needs Of Local Customers

Major companies operating in the whole life insurance market are providing comprehensive insurance products such as Insurance Plans with incremental Death Benefit that caters to the needs of local customers. An insurance plan with incremental death benefit refers to a policy that guarantees the death benefit, payable to beneficiaries, will progressively increase over time. For instance, in August 2023, China Pacific Life Insurance Company Limited, a China-based insurance group, launched a new whole life insurance product, 'Ever-growing Whole Life Insurance Plan,' featuring both protection and savings functions. The incremental feature ensures that the Death Benefit if the insured passes away after the premium payment period, will not be less than a percentage of the Notional Amount, continuously increasing life protection. The plan offers flexible options such as Currency Conversion, Terminal Dividend Lock-in, and Regular Withdrawal, catering to individual financial planning.

Need data on a specific region in this market?

Whole Life Insurance Market Merger And Acquisition: Obra Capital Acquires Unified Life Insurance to Enhance Offerings

In January 2024, Obra Capital, an US-based general insurance company acquired Unified Life Insurance for an undisclosed amount. The acquisition aims to strengthen Obra Capital's position in the insurance market by expanding its portfolio of financial products and services, enhancing operational capabilities, and providing a broader range of insurance solutions to meet customer needs. Unified Life Insurance, a US based company manufactures whole life insurance and other life insurance products, allowing Obra Capital to diversify its offerings and tap into new market segments focused on long-term financial security and wealth accumulation for customers.

Regional Outlook For The Global Whole Life Insurance Market

North America was the largest region in the whole life insurance market in 2024. Europe is expected to be the fastest-growing region in the whole life insurance market report during the forecast period. The regions covered in the whole life insurance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the whole life insurance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

What Defines the Whole Life Insurance Market?

The whole life insurance market includes revenues earned by entities by providing universal life insurance, and variable life insurance. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

How is Market Value Defined and Measured?

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

What is the Market Assessment and Strategic Outlook for the Whole Life Insurance Industry?

The whole life insurance market research report is one of a series of new reports from The Business Research Company that provides whole life insurance market statistics, including whole life insurance industry global market size, regional shares, competitors with whole life insurance market share, detailed whole life insurance market segments, market trends, and opportunities, and any further data you may need to thrive in the whole life insurance industry. This whole life insurance market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Whole Life Insurance Market Report Forecast Analysis

Report AttributeDetails
Market Size Value In 2025 $4269 billion
Revenue Forecast In 2034 $5905.66 billion
Growth Rate CAGR of 8.5% from 2025 to 2034
Base Year For Estimation 2024
Actual Estimates/Historical Data 2019-2024
Forecast Period 2025 - 2029 - 2034
Market Representation Revenue in USD Billion and CAGR from 2025 to 2034
Segments Covered 1) By Type: Non-Participating Whole Life, Participating Whole Life
2) By Application: Agency, Brokers, Bancassurance, Digital And Direct Channels Subsegments: 1) By Non-Participating Whole Life: Fixed Premium Non-Participating Whole Life, Level Death Benefit Non-Participating Whole Life, Universal Non-Participating Whole Life
2) By Participating Whole Life: Traditional Participating Whole Life, Limited Pay Participating Whole Life, Indeterminate Premium Participating Whole Life
Regional Scope Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Country Scope The countries covered in the report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain. Additional countries that can be covered in the report are Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, Mexico, Chile, Argentina, Colombia, Peru, Austria, Belgium, Denmark, Finland, Ireland, Netherlands, Norway, Portugal, Sweden, Switzerland, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.
Key Companies Profiled China Life Insurance Company Limited, MetLife Inc., Ping An Insurance Company of China Ltd., Allianz Life Insurance, Axa SA, Generali Group, Munich Re Group, Zurich Insurance Group Ltd., Nippon Life Insurance Company, Japan Post Holdings Company Ltd., Berkshire Hathaway Inc., Manulife Financial Corporation, China Pacific Insurance Co. Ltd., Chubb Corp., American International Group, Aviva Plc., Allstate Corporation, Swiss Reinsurance Company Ltd., Prudential Financial Inc., New York Life Insurance Company, Massachusetts Mutual Life Insurance Company, Guardian Life Insurance Company of America, Penn Mutual Life Insurance Company, Ohio National Life Insurance Company, State Farm Mutual Automobile Insurance Company, Pacific Life Insurance Company, John Hancock Financial Services, Principal Financial Group Inc., Nationwide Mutual Insurance Company, Thrivent Financial for Lutherans
Customization Scope Request for Sample
Pricing And Purchase Options Explore Purchase Options
Market Size Value In 2025 $4269 billion
Revenue Forecast In 2034 $5905.66 billion
Growth Rate CAGR of 8.5% from 2025 to 2034
Base Year For Estimation 2024
Actual Estimates/Historical Data 2019-2024
Forecast Period 2025 - 2029 - 2034
Market Representation Revenue in USD Billion and CAGR from 2025 to 2034
Segments Covered 1) By Type: Non-Participating Whole Life, Participating Whole Life
2) By Application: Agency, Brokers, Bancassurance, Digital And Direct Channels Subsegments: 1) By Non-Participating Whole Life: Fixed Premium Non-Participating Whole Life, Level Death Benefit Non-Participating Whole Life, Universal Non-Participating Whole Life
2) By Participating Whole Life: Traditional Participating Whole Life, Limited Pay Participating Whole Life, Indeterminate Premium Participating Whole Life
Regional Scope Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Country Scope The countries covered in the report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain. Additional countries that can be covered in the report are Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, Mexico, Chile, Argentina, Colombia, Peru, Austria, Belgium, Denmark, Finland, Ireland, Netherlands, Norway, Portugal, Sweden, Switzerland, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.
Key Companies Profiled China Life Insurance Company Limited, MetLife Inc., Ping An Insurance Company of China Ltd., Allianz Life Insurance, Axa SA, Generali Group, Munich Re Group, Zurich Insurance Group Ltd., Nippon Life Insurance Company, Japan Post Holdings Company Ltd., Berkshire Hathaway Inc., Manulife Financial Corporation, China Pacific Insurance Co. Ltd., Chubb Corp., American International Group, Aviva Plc., Allstate Corporation, Swiss Reinsurance Company Ltd., Prudential Financial Inc., New York Life Insurance Company, Massachusetts Mutual Life Insurance Company, Guardian Life Insurance Company of America, Penn Mutual Life Insurance Company, Ohio National Life Insurance Company, State Farm Mutual Automobile Insurance Company, Pacific Life Insurance Company, John Hancock Financial Services, Principal Financial Group Inc., Nationwide Mutual Insurance Company, Thrivent Financial for Lutherans
Customization ScopeRequest for Sample
Pricing And Purchase OptionsExplore Purchase Options

Table Of Contents

1. Executive Summary

2. Whole Life Insurance Market Characteristics

3. Whole Life Insurance Market Trends And Strategies

4. Whole Life Insurance Market - Macro Economic Scenario Including The Impact Of Interest Rates, Inflation, Geopolitics, Trade Wars and Tariffs, And Covid And Recovery On The Market

5. Global Whole Life Insurance Growth Analysis And Strategic Analysis Framework

5.1. Global Whole Life Insurance PESTEL Analysis (Political, Social, Technological, Environmental and Legal Factors, Drivers and Restraints)

5.2. Analysis Of End Use Industries

5.3. Global Whole Life Insurance Market Growth Rate Analysis

5.4. Global Whole Life Insurance Historic Market Size and Growth, 2019 - 2024, Value ($ Billion)

5.5. Global Whole Life Insurance Forecast Market Size and Growth, 2024 - 2029, 2034F, Value ($ Billion)

5.6. Global Whole Life Insurance Total Addressable Market (TAM)

6. Whole Life Insurance Market Segmentation

6.1. Global Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Non-Participating Whole Life

Participating Whole Life

6.2. Global Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Agency

Brokers

Bancassurance

Digital And Direct Channels

6.3. Global Whole Life Insurance Market, Sub-Segmentation Of Non-Participating Whole Life, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Fixed Premium Non-Participating Whole Life

Level Death Benefit Non-Participating Whole Life

Universal Non-Participating Whole Life

6.4. Global Whole Life Insurance Market, Sub-Segmentation Of Participating Whole Life, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

Traditional Participating Whole Life

Limited Pay Participating Whole Life

Indeterminate Premium Participating Whole Life

7. Whole Life Insurance Market Regional And Country Analysis

7.1. Global Whole Life Insurance Market, Split By Region, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

7.2. Global Whole Life Insurance Market, Split By Country, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

8. Asia-Pacific Whole Life Insurance Market

8.1. Asia-Pacific Whole Life Insurance Market Overview

Region Information, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies

8.2. Asia-Pacific Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

8.3. Asia-Pacific Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

9. China Whole Life Insurance Market

9.1. China Whole Life Insurance Market Overview

9.2. China Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F,$ Billion

9.3. China Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F,$ Billion

10. India Whole Life Insurance Market

10.1. India Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

10.2. India Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

11. Japan Whole Life Insurance Market

11.1. Japan Whole Life Insurance Market Overview

11.2. Japan Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

11.3. Japan Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

12. Australia Whole Life Insurance Market

12.1. Australia Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

12.2. Australia Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

13. Indonesia Whole Life Insurance Market

13.1. Indonesia Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

13.2. Indonesia Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

14. South Korea Whole Life Insurance Market

14.1. South Korea Whole Life Insurance Market Overview

14.2. South Korea Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

14.3. South Korea Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

15. Western Europe Whole Life Insurance Market

15.1. Western Europe Whole Life Insurance Market Overview

15.2. Western Europe Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

15.3. Western Europe Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

16. UK Whole Life Insurance Market

16.1. UK Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

16.2. UK Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

17. Germany Whole Life Insurance Market

17.1. Germany Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

17.2. Germany Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

18. France Whole Life Insurance Market

18.1. France Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

18.2. France Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

19. Italy Whole Life Insurance Market

19.1. Italy Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

19.2. Italy Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

20. Spain Whole Life Insurance Market

20.1. Spain Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

20.2. Spain Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

21. Eastern Europe Whole Life Insurance Market

21.1. Eastern Europe Whole Life Insurance Market Overview

21.2. Eastern Europe Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

21.3. Eastern Europe Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

22. Russia Whole Life Insurance Market

22.1. Russia Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

22.2. Russia Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

23. North America Whole Life Insurance Market

23.1. North America Whole Life Insurance Market Overview

23.2. North America Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

23.3. North America Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

24. USA Whole Life Insurance Market

24.1. USA Whole Life Insurance Market Overview

24.2. USA Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

24.3. USA Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

25. Canada Whole Life Insurance Market

25.1. Canada Whole Life Insurance Market Overview

25.2. Canada Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

25.3. Canada Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

26. South America Whole Life Insurance Market

26.1. South America Whole Life Insurance Market Overview

26.2. South America Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

26.3. South America Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

27. Brazil Whole Life Insurance Market

27.1. Brazil Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

27.2. Brazil Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

28. Middle East Whole Life Insurance Market

28.1. Middle East Whole Life Insurance Market Overview

28.2. Middle East Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

28.3. Middle East Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

29. Africa Whole Life Insurance Market

29.1. Africa Whole Life Insurance Market Overview

29.2. Africa Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

29.3. Africa Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

30. Whole Life Insurance Market Competitive Landscape And Company Profiles

30.1. Whole Life Insurance Market Competitive Landscape

30.2. Whole Life Insurance Market Company Profiles

30.2.1. China Life Insurance Company Limited Overview, Products and Services, Strategy and Financial Analysis

30.2.2. MetLife Inc. Overview, Products and Services, Strategy and Financial Analysis

30.2.3. Ping An Insurance Company of China Ltd. Overview, Products and Services, Strategy and Financial Analysis

30.2.4. Allianz Life Insurance Overview, Products and Services, Strategy and Financial Analysis

30.2.5. Axa SA Overview, Products and Services, Strategy and Financial Analysis

31. Whole Life Insurance Market Other Major And Innovative Companies

31.1. Generali Group

31.2. Munich Re Group

31.3. Zurich Insurance Group Ltd.

31.4. Nippon Life Insurance Company

31.5. Japan Post Holdings Company Ltd.

31.6. Berkshire Hathaway Inc.

31.7. Manulife Financial Corporation

31.8. China Pacific Insurance Co. Ltd.

31.9. Chubb Corp.

31.10. American International Group

31.11. Aviva Plc.

31.12. Allstate Corporation

31.13. Swiss Reinsurance Company Ltd.

31.14. Prudential Financial Inc.

31.15. New York Life Insurance Company

32. Global Whole Life Insurance Market Competitive Benchmarking And Dashboard

33. Key Mergers And Acquisitions In The Whole Life Insurance Market

34. Recent Developments In The Whole Life Insurance Market

35. Whole Life Insurance Market High Potential Countries, Segments and Strategies

35.1 Whole Life Insurance Market In 2029 - Countries Offering Most New Opportunities

35.2 Whole Life Insurance Market In 2029 - Segments Offering Most New Opportunities

35.3 Whole Life Insurance Market In 2029 - Growth Strategies

35.3.1 Market Trend Based Strategies

35.3.2 Competitor Strategies

36. Appendix

36.1. Abbreviations

36.2. Currencies

36.3. Historic And Forecast Inflation Rates

36.4. Research Inquiries

36.5. The Business Research Company

36.6. Copyright And Disclaimer

Need tailored insights? Customise this report to fit your business goals.


List Of Tables

    Table 1: Global Historic Market Growth, 2019-2024, $ Billion
  • Table 2: Global Forecast Market Growth, 2024-2029F, 2034F, $ Billion
  • Table 3: Global Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 4: Global Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 5: Global Whole Life Insurance Market, Sub-Segmentation Of Non-Participating Whole Life, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 6: Global Whole Life Insurance Market, Sub-Segmentation Of Participating Whole Life, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 7: Global Whole Life Insurance Market, Split By Region, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 8: Global Whole Life Insurance Market, Split By Country, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 9: Asia-Pacific, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 10: Asia-Pacific, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 11: China, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 12: China, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 13: India, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 14: India, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 15: Japan, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 16: Japan, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 17: Australia, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 18: Australia, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 19: Indonesia, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 20: Indonesia, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 21: South Korea, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 22: South Korea, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 23: Western Europe, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 24: Western Europe, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 25: UK, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 26: UK, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 27: Germany, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 28: Germany, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 29: France, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 30: France, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 31: Italy, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 32: Italy, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 33: Spain, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 34: Spain, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 35: Eastern Europe, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 36: Eastern Europe, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 37: Russia, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 38: Russia, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 39: North America, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 40: North America, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 41: USA, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 42: USA, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 43: Canada, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 44: Canada, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 45: South America, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 46: South America, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 47: Brazil, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 48: Brazil, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 49: Middle East, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 50: Middle East, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 51: Africa, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 52: Africa, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Table 53: China Life Insurance Company Limited Financial Performance
  • Table 54: MetLife Inc. Financial Performance
  • Table 55: Ping An Insurance Company of China Ltd. Financial Performance
  • Table 56: Allianz Life Insurance Financial Performance
  • Table 57: Axa SA Financial Performance

List Of Figures

    Figure 1: Global Historic Market Growth, 2019-2024, $ Billion
  • Figure 2: Global Forecast Market Growth, 2024-2029F, 2034F, $ Billion
  • Figure 3: Global Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 4: Global Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 5: Global Whole Life Insurance Market, Sub-Segmentation Of Non-Participating Whole Life, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 6: Global Whole Life Insurance Market, Sub-Segmentation Of Participating Whole Life, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 7: Global Whole Life Insurance Market, Split By Region, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 8: Global Whole Life Insurance Market, Split By Country, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 9: Asia-Pacific, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 10: Asia-Pacific, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 11: China, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 12: China, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 13: India, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 14: India, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 15: Japan, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 16: Japan, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 17: Australia, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 18: Australia, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 19: Indonesia, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 20: Indonesia, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 21: South Korea, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 22: South Korea, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 23: Western Europe, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 24: Western Europe, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 25: UK, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 26: UK, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 27: Germany, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 28: Germany, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 29: France, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 30: France, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 31: Italy, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 32: Italy, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 33: Spain, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 34: Spain, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 35: Eastern Europe, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 36: Eastern Europe, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 37: Russia, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 38: Russia, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 39: North America, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 40: North America, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 41: USA, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 42: USA, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 43: Canada, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 44: Canada, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 45: South America, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 46: South America, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 47: Brazil, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 48: Brazil, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 49: Middle East, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 50: Middle East, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 51: Africa, Whole Life Insurance Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 52: Africa, Whole Life Insurance Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Figure 53: China Life Insurance Company Limited Financial Performance
  • Figure 54: MetLife Inc. Financial Performance
  • Figure 55: Ping An Insurance Company of China Ltd. Financial Performance
  • Figure 56: Allianz Life Insurance Financial Performance
  • Figure 57: Axa SA Financial Performance

Frequently Asked Questions

Whole life insurance, often known as permanent life insurance, refers to life insurance plans that include an investment component and are designed to last until death. In contrast to term life insurance, which only covers a specified number of years, the insurance policy offers a death benefit when the policyholder passes away, as long as the appropriate payments are paid. A whole life insurance policy's premiums fund both an investment account and the policy's guaranteed death benefit. For further insights on the Whole Life Insurance market, request a sample here

The Whole Life Insurance market major growth driver - Increasing Urbanization Is Anticipated To Fuel The Whole Life Insurance Market. For further insights on the Whole Life Insurance market, request a sample here

The Whole Life Insurance market size has grown strongly in recent years. The whole life insurance market size has grown strongly in recent years. It will grow from $3928.21 billion in 2024 to $4269 billion in 2025 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to policy stability and guarantees, long-term financial security, legacy and estate planning, inflation hedge, conservative investment option. The whole life insurance market size is expected to see strong growth in the next few years. It will grow to $5905.66 billion in 2029 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to personalized solutions, increased longevity concerns, wealth transfer and estate planning, health and wellness incentives, shift in consumer preferences. Major trends in the forecast period include customization and personalization, innovative product offerings, tech integration in underwriting, evolving customer preferences, wealth transfer and estate planning. For further insights on the Whole Life Insurance market, request a sample here

The whole life insurance market covered in this report is segmented –
1) By Type: Non-Participating Whole Life, Participating Whole Life
2) By Application: Agency, Brokers, Bancassurance, Digital And Direct Channels
Subsegments:
1) By Non-Participating Whole Life: Fixed Premium Non-Participating Whole Life, Level Death Benefit Non-Participating Whole Life, Universal Non-Participating Whole Life
2) By Participating Whole Life: Traditional Participating Whole Life, Limited Pay Participating Whole Life, Indeterminate Premium Participating Whole Life For further insights on the Whole Life Insurance market,
request a sample here

North America was the largest region in the whole life insurance market in 2024. Europe is expected to be the fastest-growing region in the whole life insurance market report during the forecast period. The regions covered in the whole life insurance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa For further insights on the Whole Life Insurance market, request a sample here.

Major companies operating in the whole life insurance market include China Life Insurance Company Limited, MetLife Inc., Ping An Insurance Company of China Ltd., Allianz Life Insurance, Axa SA, Generali Group, Munich Re Group, Zurich Insurance Group Ltd., Nippon Life Insurance Company, Japan Post Holdings Company Ltd., Berkshire Hathaway Inc., Manulife Financial Corporation, China Pacific Insurance Co. Ltd., Chubb Corp., American International Group, Aviva Plc., Allstate Corporation, Swiss Reinsurance Company Ltd., Prudential Financial Inc., New York Life Insurance Company, Massachusetts Mutual Life Insurance Company, Guardian Life Insurance Company of America, Penn Mutual Life Insurance Company, Ohio National Life Insurance Company, State Farm Mutual Automobile Insurance Company, Pacific Life Insurance Company, John Hancock Financial Services, Principal Financial Group Inc., Nationwide Mutual Insurance Company, Thrivent Financial for Lutherans . For further insights on the Whole Life Insurance market, request a sample here.

Major trends in the Whole Life Insurance market include Comprehensive Insurance Product That Caters To The Needs Of Local Customers. For further insights on the Whole Life Insurance market, request a sample here.

Customer representative image Book your 30 minutes free consultation with our research experts
Back to top
\
Back to top