What is Child Life Insurance Market?
A child's life insurance offers a double benefit of investment and insurance. It secures the various milestones in your life by providing insurance coverage at all times. When due, the proceeds can be used for any financial need. Child life insurance is a form of permanent life insurance that insures the life of a minor. It is usually purchased to protect a family from the sudden and unexpected costs of a child's funeral or burial and to provide inexpensive and guaranteed insurance for the child's lifetime. It offers a guaranteed present value growth that some carriers allow when the child is in their early twenties. These insurance policies mainly offer the owner the option to purchase, or in some cases, additional guaranteed insurance when the child reaches maturity. Child life insurance should not be confused with teenage life insurance, which is issued at much higher face values (typically USD 100,000- USD 10,000,000) and is generally purchased for college savings, lifelong savings, estate planning, and guaranteed insurability. In the current situations, therefore, the use of a children's plan has become an absolute necessity.
The market study is being classified by Type (Term Child Life Insurance and Permanent Child Life Insurance) and major geographies with country level break-up.
Allianz SE (Germany), Assicurazioni Generali (Italy), China Life Insurance (China), MetLife (United States), Ping An Insurance (China), AXA (France), Sumitomo Life Insurance (Japan), Aegon N.V. (Netherlands), Dai-ichi Mutual Life Insurance (Japan), CPIC (China), Aviva (United Kingdom), Munich Re Group (Germany), Zurich Financial Services (Switzerland), Nippon Life Insurance (Japan), Gerber Life Insurance Company (United States), AIG (United States), Toilet Seat Sanitizers:, Cleenol (United Kingdom), Wechem, INC. (United States), Safe4U (United States), Pee Safe (India), CleanSmart(United States), F.C.P. Co., Ltd. (Thailand), Reckitt Benckiser LLC (United States), Prowomen (Israel) and Greenerways Organic (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Saraya Co. Ltd. (Japan), Kimberly-Clark (United States), RunBugz (India), Duprex (Singapore), Rubbermaid (United States), CWS International GmbH (Germany) and Vectair Systems Ltd. (United Kingdom).
There are various companies that are performing in the market, those companies are new geographic regions by adopting major strategic initiatives such as mergers & acquisitions, expansions, investments, new service launches, and many others. There are various key players are entering this market to capture market growth opportunities. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Child Life Insurance market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Child Life Insurance market by Type, Application and Region.
On the basis of geography, the market of Child Life Insurance has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increasing Prevalence of Diseases Is Fueling the Market Growth
- Lower Premiums and a Degree of Flexibility
- Growing Number of Individuals with High Income
- High Growth in Medical Care Expenses
- Introduction of Advanced Technologies
- Short Term Restraint for the Market Due to Shutting Down of Operations & Process of Different Companies Across Different Parts of the World Due to COVID-19 Pandemic
- The Rise in Consolidation within the Health Care Industry
- Digitization in Accessing Policies
- Stiff Competition Among the Major Players
- The Slowdown in Economic Conditions
Market Leaders and some development strategies
On 3rd January 2020, Allianz has completed the acquisition of Liverpool Victoria General Insurance Group Ltd. and the general insurance unit of the United Kingdom.
Key Target AudienceVenture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Commercial Health Insurance Providers, Government Regulatory and Research Organizations and End-Use Industries
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