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Key Trends of Life Insurance to Expect Between 2015-2018

Thursday, January 15th, 2015

It’s a new year, and a new beginning as people say goodbye to 2014. We hope it was a prosperous and sound year for all.

There is a lot of optimism for 2015, and this is the best time for some introspection of achievements made over the past twelve months of 2014, and the right time to consider the challenges that lie ahead.

The Market Research Reports, Inc. announced recently that there is a new trend in life insurance in the US, and changes will happen starting from 2015 (check http://www.MarketResearchReports.comLewes, Published on 29 December 2014). The report highlights the following details:

  • The US life insurance segments will grow based on individual life insurance categories
  • There will be improved key trends and drivers
  • The distribution channels in US life insurance will also increase and improve
  • The competitive landscape will become even more competitive with improved guidelines
  • There will be improved regulatory policies
  • Customer segment will undergo evaluation for life insurance
  • There will be new products included in US life insurance schemes

Based on gross written premium, during 2009-2013, life insurance was the third-largest segment that was part of the US insurance industry. It accounted for 27.1% of the gross written premium in 2013. In 2014, there was an increase by 2.6% in the written premium and this was due to the rise in employment levels. This increased the demand for insurance for an individual’s whole life. However, the low investment in this industry led to losses in categories like general annuity.

The largest investors in the US capital market have been annuity and life insurers, since 1930. Therefore, they tend to have the most exposure to real estate and financial investments. This is why, when the financial and mortgage crisis hit the US in 2009, there was a sharp drop in investments. The volatility of stock markets led to a drop in the demand for annuity goods.

Key Highlights 2015-2018

  • Being the largest life insurance segment in the world, the US has 10 leading companies that account for 53.5% of the segments, and account for the written premiums in 2013
  • In 2013, the life segment provided 27.1% of the gross written premium
  • The health insurance agencies accounted for 53.4% of the written premium of the new segments in 2013, which will grow to 53.5% by 2018.
  • From 2009 to 2013, the average life expectancy grew from 78.2 years to 78.6 years. By 2018, there is expectation that life expectancy will grow to 79.3 years.
  • The e-commerce market shares in terms of new business grew to 1.7% by 2014, and by 2018, there will likely be a raise to 1.8%.

To achieve the key highlights, 2015 will come with some augmentation in the life insurance sector.


October 30th, 2014

Think before you buy expensive life insurance

We’re all well aware of the importance of life insurance policy. We buy them from various reasons, we have a neighbor who passed away in his 30’s and left his family with too many bills to pay, we have purchased a house and need to cover for mortgage, maybe one of our relatives died too soon and no one could care about his children.

July 2nd, 2014

Young adults fail to secure their future-financial status LIMRA study reveals

According to a study conducted by LIMRA, it has been revealed that six out of ten young adults in America would be unprepared to deal with their financial crisis in case they suffered an accident or an illness. This study has shown that young adults would really suffer a financial devastating impact in case of any unpredictable misfortunes.

May 21st, 2014

Less than twenty percent of new mothers have life insurance, recounts the latest survey

The latest survey carried out by life Ant, an organization and website dedicated to affordable life insurance, has made the revelations that mothers aged between eighteen to thirty years are not likely to have a life insurance. Initially people consulted financial advisors before starting families but in these modern times, people are sorting out financial advisors less and less. This is an observation confirmed by New York based financial and advisor Thomas Rockford.

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