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Whole of Life Assurance Market Begins to Take Bite Out of Versioned Long Term Growth

Sep 14, 2021 5:00 PM ET

Whole of Life Assurance Market Begins to Take Bite Out of Versioned Long Term Growth

A new 44 page research study released with title ‘Whole of Life Assurance – United Kingdom (UK) Protection Insurance 2021’ provides detailed qualitative and quantitaive research to better analyze latest market scenario and staged competition. The study not just covers geographic analysis that includes regions like North America, Europe, Asia-Pacific, South America, Middle East and Africa but also players analysis with profile such as SunLife, Aviva, Royal London, AIG, Guardian, LV=, Square Health etc. With n-number of tables and figures examining the Whole of Life Assurance, the research gives you a visual, one-stop breakdown of the leading products, submarkets and market leader’s market revenue forecasts as well as analysis to 2026Get customization & check discount for report @ https://www.htfmarketreport.com/request-discount/3578030-whole-of-life-assurance-united-kingdom-1

SummaryThe whole of life market shrank in 2020, following years of sustained growth. COVID-19 eroded business, pushing the guaranteed acceptance segment (over-50s market) into a downturn. The niche, underwritten segment also contracted. Despite the decline, whole of life assurance remains the second-largest protection product. The vast majority of guaranteed acceptance policies are sold unadvised. Despite their complexity, the proportion of underwritten policies sold through independent financial advisors fell drastically as a result of COVID-19-induced closures.

The report provides an in-depth assessment of the whole of life market, looking at current and historical market size with regards to changes in contracts and premiums. It examines how whole of life products are distributed, and highlights key changes in the competitive landscape, as well as the propositions of the key market players. The value of claims is also assessed. It provides five-year forecasts of market size in contracts and premiums to 2025 and discusses how the market, distribution, and products offered are likely to change in the future, as well as the reasons for these changes.

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Scope

– The whole of life market contracted in 2020, with premiums falling by 12.6% to £92.2m. Both the guaranteed acceptance (over-50s policies) and underwritten segments shrank.– The whole of life market is becoming increasingly dominated by a handful of players. SunLife is by far the largest provider, accounting for almost half (44.6%) of all new guaranteed acceptance contracts sold in 2019. – COVID-19 has forced insurers to turn their attention towards increasing the speed and efficiency of product delivery. For the first time, providers have started selling over-50s policies through specialist life insurance comparison platforms.

Reasons to Buy

– Examine the size of the whole of life assurance market.– Learn about key market drivers and the impact of COVID-19 on the market.– Discover which providers lead the way in the whole of life assurance space.– Understand how whole of life assurance claims compare to other protection products.

Place a Purchase Order for this Market Study (Single User License) at USD3450 https://www.htfmarketreport.com/buy-now?format=1&report=3578030

Companies Mentioned in the Report

SunLife, Aviva, Royal London, AIG, Guardian, LV=, Square Health, Medical Screening Solutions, Scottish Friendly, Cavendish Online, Choozi, Anorak, Compare the Market, OneFamily, Shepherds Friendly, British Seniors Insurance Agency, Legal & General, MoneySuperMarket, Schroders Personal Wealth, Scottish Widows, Schroders, Lloyds Banking Group, Promis Life

Table of ContentsMarket sizeDistribution2. The Whole of Life Assurance MarketMarket sizeDistributionClaims and payouts3. Market DriversCurrent driversLegislationImpact of COVID 194. Product Launches and InnovationCase studies5. Competitive LandscapeMarket sharesCompany profiles6. ForecastsForecastsCommentaryAppendix….Continued

View Detailed Table of Content @ https://www.htfmarketreport.com/reports/3578030-whole-of-life-assurance-united-kingdom-1

Thanks for reading this article, you can also get individual chapter wise section or region wise report version like North America, Europe or Asia.