Variable life Insurance Market

Published May 15, 2025

Length 250 Pages

SKU # ALMR20275280

Description

A combination of life coverage with different investment options is termed as variable life insurance. Policyholders allocate a part of their premiums to different bonds, mutual funds, and equities, which allow the cash value of the policy to fluctuate with variable life insurance performance. Thus, variable life insurance offers both potential for higher returns as well as death benefits.

Financial literacy, rise in consumer interest in flexible, unit-linked life insurance products for long-term financial planning, regulatory frameworks, and more are the factors that boost the growth of the variable life insurance market. However, investment risk associated with variable life insurance and market volatility limit the growth of the market. Rise in digital penetration in the insurance sector, inclusion of AI in advisory tools and online policy management platforms are expected to foster the growth of the market during the forecast period.

Segment Review

The variable life insurance market is segmented into type, application, and region. On the basis of type, the variable life insurance market is bifurcated into fixed premium variable insurance and variable universal life insurance. By application, the variable life insurance market is classified into direct sales, brokers/agents, banks, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Competition Analysis

The report analyzes the profiles of key players operating in the Variable life Insurance market outlook are MetLife Inc., Chubb Limited, Protective Life Corporation, Transamerica Corporation, Lincoln Financial Group, New York Life Insurance Company, Northwestern Mutual Life Insurance Company, Nationwide Mutual Insurance Company, Allstate Insurance Company, Aditya Birla Capital Ltd, Prudential plc, Guardian Life Insurance Company of America, Pacific Life Insurance Company, Manulife Financial Corporation, Securian Financial Group, Inc., State Farm Life Insurance Company, FUTURE GENERALI INDIA INSURANCE COMPANY LTD, Tata AIA Life Insurance Company Limited, The OneLife Company S.A., and Quantum Leben.

Key Takeaways

By type, the fixed premium variable insurance segment held the largest Variable life Insurance market size for 2024.

By application, the broker/agent segment held the largest share in the Variable life Insurance market for 2024.

Region-wise, Asia-Pacific held the largest variable life insurance market share in 2024. However, LAMEA is expected to witness the highest variable life insurance market growth.

Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the variable life insurance market analysis from 2024 to 2034 to identify the prevailing variable life insurance market opportunities.

The market research is offered along with information related to key drivers, restraints, and opportunities.

Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.

In-depth analysis of the variable life insurance market segmentation assists to determine the prevailing market opportunities.

Major countries in each region are mapped according to their revenue contribution to the global market.

Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.

The report includes the analysis of the regional as well as global variable life insurance market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Type

Fixed Premium Variable Insurance
Variable Universal Life Insurance

By Application

Direct Sales
Broker/Agent
Bank
Others

By Region

North America
U.S.
Canada
Europe
UK
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
MetLife Inc.
Protective Life Corporation
Transamerica Corporation
New York Life Insurance Company
Northwestern Mutual Life Insurance Company
Nationwide Mutual Insurance Company
Allstate Insurance Company
Prudential plc
Guardian Life Insurance Company of America
Manulife Financial Corporation
Securian Financial Group, Inc.
The OneLife Company S.A.
Quantum Leben
Chubb Limited
Lincoln Financial Group
Aditya Birla Capital Ltd
Pacific Life Insurance Company
State Farm Life Insurance Company
FUTURE GENERALI INDIA INSURANCE COMPANY LTD.
Tata AIA Life Insurance Company LimitedThe research methodology of the global market involves extensive primary and secondary research. Primary research includes about over 12 hours of interviews and discussion with a wide range of stakeholders, including upstream and downstream participants. The primary research typically is the bulk of our research efforts; however, coherently supported by extensive secondary research. Researchers have reviewed over 6,765 product literatures, industry releases, annual reports, and other such documents of key industry participants to obtain better market understanding and gain competitive intelligence. In addition, authentic industry journals, trade associations' releases,and government websites have also been reviewed for generating high-value industry insights.

CHAPTER 1: INTRODUCTION: 1.1. Report description; 1.2. Key market segments; 1.3. Key benefits to the stakeholders; 1.4. Research methodology; 1.4.1. Primary research; 1.4.2. Secondary research; 1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY: 2.1. CXO perspective
CHAPTER 3: MARKET OVERVIEW: 3.1. Market definition and scope; 3.2. Key findings; 3.2.1. Top impacting factors; 3.2.2. Top investment pockets; 3.3. Porter’s five forces analysis; 3.3.1. Low bargaining power of suppliers; 3.3.2. Moderate low threat of new entrants; 3.3.3. Moderate to high threat of substitutes; 3.3.4. High intensity of rivalry; 3.3.5. Moderate bargaining power of buyers; 3.4. Market dynamics; 3.4.1. Drivers; 3.4.1.1. Rising demand for investment-linked insurance products; 3.4.1.2. Increasing financial literacy and awareness; 3.4.1.3. Favorable regulatory framework in some markets; 3.4.2. Restraints; 3.4.2.1. Market volatility and investment risk; 3.4.2.2. Distribution challenges and need for skilled advisors; 3.4.3. Opportunities; 3.4.3.1. Integration with Wealth Management Platforms
CHAPTER 4: VARIABLE LIFE INSURANCE MARKET, BY TYPE: 4.1. Overview; 4.1.1. Market size and forecast; 4.2. Fixed Premium Variable Insurance; 4.2.1. Key market trends, growth factors and opportunities; 4.2.2. Market size and forecast, by region; 4.2.3. Market share analysis by country; 4.3. Variable Universal Life Insurance; 4.3.1. Key market trends, growth factors and opportunities; 4.3.2. Market size and forecast, by region; 4.3.3. Market share analysis by country
CHAPTER 5: VARIABLE LIFE INSURANCE MARKET, BY APPLICATION: 5.1. Overview; 5.1.1. Market size and forecast; 5.2. Direct Sales; 5.2.1. Key market trends, growth factors and opportunities; 5.2.2. Market size and forecast, by region; 5.2.3. Market share analysis by country; 5.3. Broker/Agent; 5.3.1. Key market trends, growth factors and opportunities; 5.3.2. Market size and forecast, by region; 5.3.3. Market share analysis by country; 5.4. Bank; 5.4.1. Key market trends, growth factors and opportunities; 5.4.2. Market size and forecast, by region; 5.4.3. Market share analysis by country; 5.5. Others; 5.5.1. Key market trends, growth factors and opportunities; 5.5.2. Market size and forecast, by region; 5.5.3. Market share analysis by country
CHAPTER 6: VARIABLE LIFE INSURANCE MARKET, BY REGION: 6.1. Overview; 6.1.1. Market size and forecast By Region; 6.2. North America; 6.2.1. Key market trends, growth factors and opportunities; 6.2.2. Market size and forecast, by Type; 6.2.3. Market size and forecast, by Application; 6.2.4. Market size and forecast, by country; 6.2.4.1. U.S.; 6.2.4.1.1. Market size and forecast, by Type; 6.2.4.1.2. Market size and forecast, by Application; 6.2.4.2. Canada; 6.2.4.2.1. Market size and forecast, by Type; 6.2.4.2.2. Market size and forecast, by Application; 6.3. Europe; 6.3.1. Key market trends, growth factors and opportunities; 6.3.2. Market size and forecast, by Type; 6.3.3. Market size and forecast, by Application; 6.3.4. Market size and forecast, by country; 6.3.4.1. UK; 6.3.4.1.1. Market size and forecast, by Type; 6.3.4.1.2. Market size and forecast, by Application; 6.3.4.2. Germany; 6.3.4.2.1. Market size and forecast, by Type; 6.3.4.2.2. Market size and forecast, by Application; 6.3.4.3. France; 6.3.4.3.1. Market size and forecast, by Type; 6.3.4.3.2. Market size and forecast, by Application; 6.3.4.4. Italy; 6.3.4.4.1. Market size and forecast, by Type; 6.3.4.4.2. Market size and forecast, by Application; 6.3.4.5. Spain; 6.3.4.5.1. Market size and forecast, by Type; 6.3.4.5.2. Market size and forecast, by Application; 6.3.4.6. Rest of Europe; 6.3.4.6.1. Market size and forecast, by Type; 6.3.4.6.2. Market size and forecast, by Application; 6.4. Asia-Pacific; 6.4.1. Key market trends, growth factors and opportunities; 6.4.2. Market size and forecast, by Type; 6.4.3. Market size and forecast, by Application; 6.4.4. Market size and forecast, by country; 6.4.4.1. China; 6.4.4.1.1. Market size and forecast, by Type; 6.4.4.1.2. Market size and forecast, by Application; 6.4.4.2. Japan; 6.4.4.2.1. Market size and forecast, by Type; 6.4.4.2.2. Market size and forecast, by Application; 6.4.4.3. India; 6.4.4.3.1. Market size and forecast, by Type; 6.4.4.3.2. Market size and forecast, by Application; 6.4.4.4. Australia; 6.4.4.4.1. Market size and forecast, by Type; 6.4.4.4.2. Market size and forecast, by Application; 6.4.4.5. South Korea; 6.4.4.5.1. Market size and forecast, by Type; 6.4.4.5.2. Market size and forecast, by Application; 6.4.4.6. Rest of Asia-Pacific; 6.4.4.6.1. Market size and forecast, by Type; 6.4.4.6.2. Market size and forecast, by Application; 6.5. LAMEA; 6.5.1. Key market trends, growth factors and opportunities; 6.5.2. Market size and forecast, by Type; 6.5.3. Market size and forecast, by Application; 6.5.4. Market size and forecast, by country; 6.5.4.1. Latin America; 6.5.4.1.1. Market size and forecast, by Type; 6.5.4.1.2. Market size and forecast, by Application; 6.5.4.2. Middle East; 6.5.4.2.1. Market size and forecast, by Type; 6.5.4.2.2. Market size and forecast, by Application; 6.5.4.3. Africa; 6.5.4.3.1. Market size and forecast, by Type; 6.5.4.3.2. Market size and forecast, by Application
CHAPTER 7: COMPETITIVE LANDSCAPE: 7.1. Introduction; 7.2. Top winning strategies; 7.3. Product mapping of top 10 player; 7.4. Competitive dashboard; 7.5. Competitive heatmap; 7.6. Top player positioning, 2024
CHAPTER 8: COMPANY PROFILES: 8.1. Prudential plc; 8.1.1. Company overview; 8.1.2. Key executives; 8.1.3. Company snapshot; 8.1.4. Operating business segments; 8.1.5. Product portfolio; 8.1.6. Business performance; 8.2. MetLife Inc.; 8.2.1. Company overview; 8.2.2. Key executives; 8.2.3. Company snapshot; 8.2.4. Operating business segments; 8.2.5. Product portfolio; 8.2.6. Business performance; 8.2.7. Key strategic moves and developments; 8.3. Chubb Limited; 8.3.1. Company overview; 8.3.2. Key executives; 8.3.3. Company snapshot; 8.3.4. Operating business segments; 8.3.5. Product portfolio; 8.3.6. Business performance; 8.3.7. Key strategic moves and developments; 8.4. Protective Life Corporation; 8.4.1. Company overview; 8.4.2. Key executives; 8.4.3. Company snapshot; 8.4.4. Operating business segments; 8.4.5. Product portfolio; 8.4.6. Business performance; 8.4.7. Key strategic moves and developments; 8.5. Lincoln Financial Group; 8.5.1. Company overview; 8.5.2. Key executives; 8.5.3. Company snapshot; 8.5.4. Operating business segments; 8.5.5. Product portfolio; 8.5.6. Business performance; 8.5.7. Key strategic moves and developments; 8.6. Transamerica Corporation; 8.6.1. Company overview; 8.6.2. Key executives; 8.6.3. Company snapshot; 8.6.4. Operating business segments; 8.6.5. Product portfolio; 8.7. Guardian Life Insurance Company of America; 8.7.1. Company overview; 8.7.2. Key executives; 8.7.3. Company snapshot; 8.7.4. Operating business segments; 8.7.5. Product portfolio; 8.7.6. Key strategic moves and developments; 8.8. New York Life Insurance Company; 8.8.1. Company overview; 8.8.2. Key executives; 8.8.3. Company snapshot; 8.8.4. Operating business segments; 8.8.5. Product portfolio; 8.8.6. Key strategic moves and developments; 8.9. Northwestern Mutual Life Insurance Company; 8.9.1. Company overview; 8.9.2. Key executives; 8.9.3. Company snapshot; 8.9.4. Operating business segments; 8.9.5. Product portfolio; 8.10. Pacific Life Insurance Company; 8.10.1. Company overview; 8.10.2. Key executives; 8.10.3. Company snapshot; 8.10.4. Operating business segments; 8.10.5. Product portfolio; 8.10.6. Key strategic moves and developments; 8.11. Nationwide Mutual Insurance Company; 8.11.1. Company overview; 8.11.2. Key executives; 8.11.3. Company snapshot; 8.11.4. Operating business segments; 8.11.5. Product portfolio; 8.11.6. Key strategic moves and developments; 8.12. Allstate Insurance Company; 8.12.1. Company overview; 8.12.2. Key executives; 8.12.3. Company snapshot; 8.12.4. Operating business segments; 8.12.5. Product portfolio; 8.12.6. Business performance; 8.12.7. Key strategic moves and developments; 8.13. Manulife Financial Corporation; 8.13.1. Company overview; 8.13.2. Key executives; 8.13.3. Company snapshot; 8.13.4. Operating business segments; 8.13.5. Product portfolio; 8.13.6. Business performance; 8.13.7. Key strategic moves and developments; 8.14. Securian Financial Group, Inc.; 8.14.1. Company overview; 8.14.2. Key executives; 8.14.3. Company snapshot; 8.14.4. Operating business segments; 8.14.5. Product portfolio; 8.14.6. Key strategic moves and developments; 8.15. State Farm Life Insurance Company; 8.15.1. Company overview; 8.15.2. Key executives; 8.15.3. Company snapshot; 8.15.4. Operating business segments; 8.15.5. Product portfolio; 8.16. Aditya Birla Capital Ltd; 8.16.1. Company overview; 8.16.2. Key executives; 8.16.3. Company snapshot; 8.16.4. Operating business segments; 8.16.5. Product portfolio; 8.16.6. Business performance; 8.17. Tata AIA Life Insurance Company Limited; 8.17.1. Company overview; 8.17.2. Key executives; 8.17.3. Company snapshot; 8.17.4. Operating business segments; 8.17.5. Product portfolio; 8.17.6. Key strategic moves and developments; 8.18. Quantum Leben; 8.18.1. Company overview; 8.18.2. Key executives; 8.18.3. Company snapshot; 8.18.4. Operating business segments; 8.18.5. Product portfolio; 8.19. FUTURE GENERALI INDIA INSURANCE COMPANY LTD.; 8.19.1. Company overview; 8.19.2. Key executives; 8.19.3. Company snapshot; 8.19.4. Operating business segments; 8.19.5. Product portfolio; 8.19.6. Key strategic moves and developments; 8.20. The OneLife Company S.A.; 8.20.1. Company overview; 8.20.2. Key executives; 8.20.3. Company snapshot; 8.20.4. Operating business segments; 8.20.5. Product portfolio

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