Global Group Level Term Insurance Market Size Study & Forecast, by Type of Coverage, Size of Group, Industry Sector and Regional Forecasts 2022-2032

June 2025 | 285 pages | ID: GED7B3021838EN
Bizwit Research & Consulting LLP

Abstracts

The Global Group Level Term Insurance Market is valued at approximately USD 174.73 billion in 2024 and is poised to expand at a remarkable CAGR of 10.50% during the forecast period from 2025 to 2035. As organizations worldwide strive to enhance employee welfare, manage risk, and streamline benefits, group level term insurance has emerged as a pivotal tool in corporate financial planning. Offering protection at scale, this type of policy ensures uniform coverage for employees while mitigating individual underwriting complexities. As businesses scale and employee wellbeing becomes a competitive differentiator, demand for flexible, cost-efficient, and customizable group insurance solutions is experiencing a substantial upsurge.

Driving this market upward is the accelerated shift among corporates—especially in sectors such as healthcare, government, and technology—toward offering comprehensive employee benefits. Group policies, whether term life, whole life, or universal plans, are being tailored with greater benefit-level options like supplemental and enhanced coverage tiers. Furthermore, insurers are leveraging AI-powered underwriting, digital claims management, and predictive analytics to automate premium collection (across monthly, quarterly, and single-payment modes) and risk assessments, fostering smoother policyholder engagement. The growth of SMEs and increasing financial literacy across emerging economies are further igniting the proliferation of group insurance schemes.

Geographically, North America is projected to dominate the Group Level Term Insurance Market by 2025, underpinned by a highly structured regulatory environment, corporate focus on employee retention, and widespread acceptance of group life products. Meanwhile, Europe follows closely, driven by social security policies, public-private insurance partnerships, and aging workforce dynamics. However, Asia Pacific is expected to chart the fastest growth trajectory, fueled by booming employment markets in India and Southeast Asia, an expanding middle class, and digitized insurance ecosystems. Latin America and the Middle East & Africa are anticipated to offer untapped potential as local enterprises evolve and governments advocate for structured workforce coverage through incentives.

Major market players included in this report are:

• MetLife, Inc.
• Prudential Financial, Inc.
• AIA Group Limited
• Manulife Financial Corporation
• Sun Life Financial Inc.
• AXA S.A.
• Aviva plc
• Zurich Insurance Group
• Cigna Corporation
• Allianz SE
• Legal & General Group plc
• The Dai-ichi Life Insurance Company, Limited
• Reliance Nippon Life Insurance Company
• UnitedHealth Group Incorporated
• New York Life Insurance Company

Global Group Level Term Insurance Market Report Scope:

• Historical Data – 2023, 2024
• Base Year for Estimation – 2024
• Forecast period – 2025-2035
• Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
• Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
• Customization Scope – Free report customization (equivalent up to 8 analysts’ working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within the countries involved in the study. The report also provides detailed information about crucial aspects, such as driving factors and challenges, which will define the future growth of the market. Additionally, it incorporates potential opportunities in micro-markets for stakeholders to invest, along with a detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segments of the market are explained below:

By Type of Coverage:

• Term Life Insurance
• Whole Life Insurance
• Universal Life Insurance
• Variable Life Insurance

By Size of Group:

• Small Groups (2-50 Employees)
• Medium Groups (51-100 Employees)
• Large Groups (101+ Employees)

By Industry Sector:

• Healthcare
• Education
• Government
• Manufacturing
• Technology

By Premium Payment Method:

• Monthly
• Quarterly
• Annually
• Single Premium

By Benefit Level:

• Basic Coverage
• Enhanced Coverage
• Supplemental Coverage

By Region:

North America

• U.S.
• Canada

Europe

• UK
• Germany
• France
• Spain
• Italy
• Rest of Europe

Asia Pacific

• China
• India
• Japan
• Australia
• South Korea
• Rest of Asia Pacific

Latin America

• Brazil
• Mexico

Middle East & Africa

• UAE
• Saudi Arabia
• South Africa
• Rest of Middle East & Africa

Key Takeaways:

• Market Estimates & Forecast for 10 years from 2025 to 2035.
• Annualized revenues and regional level analysis for each market segment.
• Detailed analysis of geographical landscape with Country level analysis of major regions.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approach.
• Analysis of competitive structure of the market.
• Demand side and supply side analysis of the market.

Contents

CHAPTER 1. GLOBAL GROUP LEVEL TERM INSURANCE MARKET REPORT SCOPE & METHODOLOGY

1.1. Research Objective
1.2. Research Methodology
  1.2.1. Forecast Model
  1.2.2. Desk Research
  1.2.3. Top-Down and Bottom-Up Approach
1.3. Research Attributes
1.4. Scope of the Study
  1.4.1. Market Definition
  1.4.2. Market Segmentation
1.5. Research Assumptions
  1.5.1. Inclusion & Exclusion
  1.5.2. Limitations
  1.5.3. Years Considered for the Study

CHAPTER 2. EXECUTIVE SUMMARY

2.1. CEO/CXO Standpoint
2.2. Strategic Insights
2.3. ESG Analysis
2.4. Key Findings

CHAPTER 3. GLOBAL GROUP LEVEL TERM INSURANCE MARKET FORCES ANALYSIS

3.1. Market Forces Shaping the Global Group Level Term Insurance Market (2024–2035)
3.2. Drivers
  3.2.1. Corporate Emphasis on Employee Well-being
  3.2.2. Regulatory Incentives for Group Coverage
  3.2.3. Technological Advancements in Digital Underwriting
3.3. Restraints
  3.3.1. Complexity of Risk Pooling and Underwriting
  3.3.2. Premium Rate Volatility and Cost Pressures
3.4. Opportunities
  3.4.1. Expansion into Emerging Economies
  3.4.2. Customizable Benefit-Level Tiers

CHAPTER 4. GLOBAL GROUP LEVEL TERM INSURANCE INDUSTRY ANALYSIS

4.1. Porter’s Five Forces Model
  4.1.1. Bargaining Power of Buyers
  4.1.2. Bargaining Power of Suppliers
  4.1.3. Threat of New Entrants
  4.1.4. Threat of Substitutes
  4.1.5. Competitive Rivalry
4.2. Porter’s Five Forces Forecast Model (2024–2035)
4.3. PESTEL Analysis
  4.3.1. Political
  4.3.2. Economic
  4.3.3. Social
  4.3.4. Technological
  4.3.5. Environmental
  4.3.6. Legal
4.4. Top Investment Opportunities
4.5. Top Winning Strategies (2025)
4.6. Market Share Analysis (2024–2025)
4.7. Global Pricing Analysis and Trends 2025
4.8. Analyst Recommendations & Conclusion

CHAPTER 5. GLOBAL GROUP LEVEL TERM INSURANCE MARKET SIZE & FORECASTS BY TYPE OF COVERAGE 2025–2035

5.1. Market Overview
5.2. Global Market Performance – Potential Analysis (2025)
5.3. Term Life Insurance
  5.3.1. Top Countries Breakdown Estimates & Forecasts, 2024–2035
  5.3.2. Market Size Analysis, by Region, 2025–2035
5.4. Whole Life Insurance
  5.4.1. Top Countries Breakdown Estimates & Forecasts, 2024–2035
  5.4.2. Market Size Analysis, by Region, 2025–2035
5.5. Universal Life Insurance
  5.5.1. Top Countries Breakdown Estimates & Forecasts, 2024–2035
  5.5.2. Market Size Analysis, by Region, 2025–2035
5.6. Variable Life Insurance
  5.6.1. Top Countries Breakdown Estimates & Forecasts, 2024–2035
  5.6.2. Market Size Analysis, by Region, 2025–2035

CHAPTER 6. GLOBAL GROUP LEVEL TERM INSURANCE MARKET SIZE & FORECASTS BY SIZE OF GROUP 2025–2035

6.1. Market Overview
6.2. Global Market Performance – Potential Analysis (2025)
6.3. Small Groups (2–50 Employees)
  6.3.1. Top Countries Breakdown Estimates & Forecasts, 2024–2035
  6.3.2. Market Size Analysis, by Region, 2025–2035
6.4. Medium Groups (51–100 Employees)
  6.4.1. Top Countries Breakdown Estimates & Forecasts, 2024–2035
  6.4.2. Market Size Analysis, by Region, 2025–2035
6.5. Large Groups (101+ Employees)
  6.5.1. Top Countries Breakdown Estimates & Forecasts, 2024–2035
  6.5.2. Market Size Analysis, by Region, 2025–2035

CHAPTER 7. GLOBAL GROUP LEVEL TERM INSURANCE MARKET SIZE & FORECASTS BY INDUSTRY SECTOR 2025–2035

7.1. Market Overview
7.2. Global Market Performance – Potential Analysis (2025)
7.3. Healthcare
  7.3.1. Top Countries Breakdown Estimates & Forecasts, 2024–2035
  7.3.2. Market Size Analysis, by Region, 2025–2035
7.4. Education
  7.4.1. Top Countries Breakdown Estimates & Forecasts, 2024–2035
  7.4.2. Market Size Analysis, by Region, 2025–2035
7.5. Government
  7.5.1. Top Countries Breakdown Estimates & Forecasts, 2024–2035
  7.5.2. Market Size Analysis, by Region, 2025–2035
7.6. Manufacturing
  7.6.1. Top Countries Breakdown Estimates & Forecasts, 2024–2035
  7.6.2. Market Size Analysis, by Region, 2025–2035
7.7. Technology
  7.7.1. Top Countries Breakdown Estimates & Forecasts, 2024–2035
  7.7.2. Market Size Analysis, by Region, 2025–2035

CHAPTER 8. GLOBAL GROUP LEVEL TERM INSURANCE MARKET SIZE & FORECASTS BY PREMIUM PAYMENT METHOD 2025–2035

8.1. Market Overview
8.2. Global Market Performance – Potential Analysis (2025)
8.3. Monthly
  8.3.1. Top Countries Breakdown Estimates & Forecasts, 2024–2035
  8.3.2. Market Size Analysis, by Region, 2025–2035
8.4. Quarterly
  8.4.1. Top Countries Breakdown Estimates & Forecasts, 2024–2035
  8.4.2. Market Size Analysis, by Region, 2025–2035
8.5. Annually
  8.5.1. Top Countries Breakdown Estimates & Forecasts, 2024–2035
  8.5.2. Market Size Analysis, by Region, 2025–2035
8.6. Single Premium
  8.6.1. Top Countries Breakdown Estimates & Forecasts, 2024–2035
  8.6.2. Market Size Analysis, by Region, 2025–2035

CHAPTER 9. GLOBAL GROUP LEVEL TERM INSURANCE MARKET SIZE & FORECASTS BY BENEFIT LEVEL 2025–2035

9.1. Market Overview
9.2. Global Market Performance – Potential Analysis (2025)
9.3. Basic Coverage
  9.3.1. Top Countries Breakdown Estimates & Forecasts, 2024–2035
  9.3.2. Market Size Analysis, by Region, 2025–2035
9.4. Enhanced Coverage
  9.4.1. Top Countries Breakdown Estimates & Forecasts, 2024–2035
  9.4.2. Market Size Analysis, by Region, 2025–2035
9.5. Supplemental Coverage
  9.5.1. Top Countries Breakdown Estimates & Forecasts, 2024–2035
  9.5.2. Market Size Analysis, by Region, 2025–2035

CHAPTER 10. GLOBAL GROUP LEVEL TERM INSURANCE MARKET SIZE & FORECASTS BY REGION 2025–2035

10.1. Global Market, Regional Snapshot
10.2. Top Leading & Emerging Countries
10.3. North America Market
  10.3.1. U.S. Market
    10.3.1.1. Segment Breakdown Size & Forecasts, 2025–2035
    10.3.1.2. Coverage Type Breakdown Size & Forecasts, 2025–2035
  10.3.2. Canada Market
    10.3.2.1. Segment Breakdown Size & Forecasts, 2025–2035
    10.3.2.2. Coverage Type Breakdown Size & Forecasts, 2025–2035
10.4. Europe Market
  10.4.1. UK Market
    10.4.1.1. Segment Breakdown Size & Forecasts, 2025–2035
    10.4.1.2. Coverage Type Breakdown Size & Forecasts, 2025–2035
  10.4.2. Germany Market
    10.4.2.1. Segment Breakdown Size & Forecasts, 2025–2035
    10.4.2.2. Coverage Type Breakdown Size & Forecasts, 2025–2035
  10.4.3. France Market
    10.4.3.1. Segment Breakdown Size & Forecasts, 2025–2035
    10.4.3.2. Coverage Type Breakdown Size & Forecasts, 2025–2035
  10.4.4. Spain Market
    10.4.4.1. Segment Breakdown Size & Forecasts, 2025–2035
    10.4.4.2. Coverage Type Breakdown Size & Forecasts, 2025–2035
  10.4.5. Italy Market
    10.4.5.1. Segment Breakdown Size & Forecasts, 2025–2035
    10.4.5.2. Coverage Type Breakdown Size & Forecasts, 2025–2035
  10.4.6. Rest of Europe Market
    10.4.6.1. Segment Breakdown Size & Forecasts, 2025–2035
    10.4.6.2. Coverage Type Breakdown Size & Forecasts, 2025–2035
10.5. Asia Pacific Market
  10.5.1. China Market
    10.5.1.1. Segment Breakdown Size & Forecasts, 2025–2035
    10.5.1.2. Coverage Type Breakdown Size & Forecasts, 2025–2035
  10.5.2. India Market
    10.5.2.1. Segment Breakdown Size & Forecasts, 2025–2035
    10.5.2.2. Coverage Type Breakdown Size & Forecasts, 2025–2035
  10.5.3. Japan Market
    10.5.3.1. Segment Breakdown Size & Forecasts, 2025–2035
    10.5.3.2. Coverage Type Breakdown Size & Forecasts, 2025–2035
  10.5.4. Australia Market
    10.5.4.1. Segment Breakdown Size & Forecasts, 2025–2035
    10.5.4.2. Coverage Type Breakdown Size & Forecasts, 2025–2035
  10.5.5. South Korea Market
    10.5.5.1. Segment Breakdown Size & Forecasts, 2025–2035
    10.5.5.2. Coverage Type Breakdown Size & Forecasts, 2025–2035
  10.5.6. Rest of Asia Pacific Market
    10.5.6.1. Segment Breakdown Size & Forecasts, 2025–2035
    10.5.6.2. Coverage Type Breakdown Size & Forecasts, 2025–2035
10.6. Latin America Market
  10.6.1. Brazil Market
    10.6.1.1. Segment Breakdown Size & Forecasts, 2025–2035
    10.6.1.2. Coverage Type Breakdown Size & Forecasts, 2025–2035
  10.6.2. Mexico Market
    10.6.2.1. Segment Breakdown Size & Forecasts, 2025–2035
    10.6.2.2. Coverage Type Breakdown Size & Forecasts, 2025–2035
10.7. Middle East & Africa Market
  10.7.1. UAE Market
    10.7.1.1. Segment Breakdown Size & Forecasts, 2025–2035
    10.7.1.2. Coverage Type Breakdown Size & Forecasts, 2025–2035
  10.7.2. Saudi Arabia Market
    10.7.2.1. Segment Breakdown Size & Forecasts, 2025–2035
    10.7.2.2. Coverage Type Breakdown Size & Forecasts, 2025–2035
  10.7.3. South Africa Market
    10.7.3.1. Segment Breakdown Size & Forecasts, 2025–2035
    10.7.3.2. Coverage Type Breakdown Size & Forecasts, 2025–2035
  10.7.4. Rest of Middle East & Africa Market
    10.7.4.1. Segment Breakdown Size & Forecasts, 2025–2035
    10.7.4.2. Coverage Type Breakdown Size & Forecasts, 2025–2035

CHAPTER 11. COMPETITIVE INTELLIGENCE

11.1. Top Market Strategies
11.2. MetLife, Inc.
  11.2.1. Company Overview
  11.2.2. Key Executives
  11.2.3. Company Snapshot
  11.2.4. Financial Performance (Subject to Data Availability)
  11.2.5. Product/Services Portfolio
  11.2.6. Recent Development
  11.2.7. Market Strategies
  11.2.8. SWOT Analysis
11.3. Prudential Financial, Inc.
11.4. AIA Group Limited
11.5. Manulife Financial Corporation
11.6. Sun Life Financial Inc.
11.7. AXA S.A.
11.8. Aviva plc
11.9. Zurich Insurance Group
11.10. Cigna Corporation
11.11. Allianz SE
11.12. Legal & General Group plc
11.13. The Dai-ichi Life Insurance Company, Limited
11.14. Reliance Nippon Life Insurance Company
11.15. UnitedHealth Group Incorporated
11.16. New York Life Insurance Company

List Of Tables

LIST OF TABLES

Table 1. Global Group Level Term Insurance Market, Report Scope
Table 2. Global Group Level Term Insurance Market Estimates & Forecasts By Region 2024–2035
Table 3. Global Group Level Term Insurance Market Estimates & Forecasts By Type of Coverage 2024–2035
Table 4. Global Group Level Term Insurance Market Estimates & Forecasts By Size of Group 2024–2035
Table 5. Global Group Level Term Insurance Market Estimates & Forecasts By Industry Sector 2024–2035
Table 6. Global Group Level Term Insurance Market Estimates & Forecasts By Premium Payment Method 2024–2035
Table 7. Global Group Level Term Insurance Market Estimates & Forecasts By Benefit Level 2024–2035
Table 8. U.S. Group Level Term Insurance Market Estimates & Forecasts, 2024–2035
Table 9. Canada Group Level Term Insurance Market Estimates & Forecasts, 2024–2035
Table 10. UK Group Level Term Insurance Market Estimates & Forecasts, 2024–2035
Table 11. Germany Group Level Term Insurance Market Estimates & Forecasts, 2024–2035
Table 12. France Group Level Term Insurance Market Estimates & Forecasts, 2024–2035
Table 13. Spain Group Level Term Insurance Market Estimates & Forecasts, 2024–2035
Table 14. Italy Group Level Term Insurance Market Estimates & Forecasts, 2024–2035
Table 15. Rest of Europe Group Level Term Insurance Market Estimates & Forecasts, 2024–2035
Table 16. China Group Level Term Insurance Market Estimates & Forecasts, 2024–2035
Table 17. India Group Level Term Insurance Market Estimates & Forecasts, 2024–2035
Table 18. Japan Group Level Term Insurance Market Estimates & Forecasts, 2024–2035
Table 19. Australia Group Level Term Insurance Market Estimates & Forecasts, 2024–2035
Table 20. South Korea Group Level Term Insurance Market Estimates & Forecasts, 2024–2035

List Of Figures

LIST OF FIGURES

Fig 1. Global Group Level Term Insurance Market, Research Methodology
Fig 2. Global Group Level Term Insurance Market, Market Estimation Techniques
Fig 3. Global Group Level Term Insurance Market Size Estimates & Forecast Methods
Fig 4. Global Group Level Term Insurance Market, Key Trends 2025
Fig 5. Global Group Level Term Insurance Market, Growth Prospects 2024–2035
Fig 6. Global Group Level Term Insurance Market, Porter’s Five Forces Model
Fig 7. Global Group Level Term Insurance Market, PESTEL Analysis
Fig 8. Global Group Level Term Insurance Market, Value Chain Analysis
Fig 9. Group Level Term Insurance Market By Type of Coverage, 2025 & 2035
Fig 10. Group Level Term Insurance Market By Size of Group, 2025 & 2035
Fig 11. Group Level Term Insurance Market By Industry Sector, 2025 & 2035
Fig 12. Group Level Term Insurance Market By Premium Payment Method, 2025 & 2035
Fig 13. Group Level Term Insurance Market By Benefit Level, 2025 & 2035
Fig 14. North America Group Level Term Insurance Market, 2025 & 2035
Fig 15. Europe Group Level Term Insurance Market, 2025 & 2035
Fig 16. Asia Pacific Group Level Term Insurance Market, 2025 & 2035
Fig 17. Latin America Group Level Term Insurance Market, 2025 & 2035
Fig 18. Middle East & Africa Group Level Term Insurance Market, 2025 & 2035
Fig 19. Global Group Level Term Insurance Market, Company Market Share Analysis (2025)