United States Life-Annuity Consumer Markets 2021: Protection Gap has Widened to $23.4 Trillion – ResearchAndMarkets.com – Business Wire

United States Life-Annuity Consumer Markets 2021: Protection Gap has Widened to $23.4 Trillion - ResearchAndMarkets.com - Business Wire

DUBLIN–(BUSINESS WIRE)–The “2021: Life-Annuity Consumer Markets” report has been added to ResearchAndMarkets.com’s offering.

The Covid-19 pandemic has greatly affected the consumer market, with differing market segments being impacted in different ways both in increased mortality and economic disruption. This has created both opportunities and challenges for life-annuity insurers.

The life insurance protection gap has widened to a relatively large amount, $23.4 trillion, which is equivalent to over 60% of the current in force individual life insurance.

All three adult generations saw increased mortality, though most excess mortality for Baby Boomers came from Covid-19, while younger adults (Generation X and Millennials) had excess mortality driven by non-Covid-19 causes, potentially a result of economic pressure on these segments.

Three major cultural markets in the U.S. (Hispanics, African-Americans, and Asian-Americans) saw excess mortality disproportionate to the overall population, with some differences driven by differing geographic impacts. These three segments have long been underinsured compared to the rest of the U.S. consumer markets and are key to future insurer growth.

Readers can use this report to:

Understand how the Covid-19 pandemic has created opportunities and challenges for life-annuity insurers across different market segments

Learn about long-term demographic trends shaping the U.S. life annuity consumer market

Uncover why the life insurance protection gap keeps increasing

Analyze increased mortality rates stemming from the pandemic year, by demographic group

Define how the Hispanic, African-American, and Asian-American Consumer Markets are underinsured compared to the rest of the U.S. consumer markets

Key Topics Covered:

Measuring the Insurer Opportunity

Key Takeaways

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Quantifying the Life Insurance Opportunity

Quantifying the Retirement Market Opportunity

Protection Gaps: Significance for Insurers

Putting the Pieces of the U.S. Market Together

Affluent and Middle Markets

Affluent and Middle Market Key Takeaways

Wealth and Income Growth Rates Drive Segmentation

Economic Segmentation of the Market

The Affluent Market

The Middle Market

Baby Boomers

Baby Boomer Key Takeaways

Generations and Life Stages

Covid-19 Impact

Demographic Profile

Shrinking Generation, Shifting Needs

Life Insurance Needs for Seniors

Retirement Income Opportunities for Insurers: Rising Tide

Opportunities and Challenges

Generation X

Key Takeaways

Sandwich Generation

Covid-19 Impact

Demographic Profile

Peak of Income, Peak of Pressures

Opportunities and Challenges

Millennials

Key Takeaways

Covid-19 Impact

Demographic Profile

Delayed Development – Lower Employment, Lower Income

Opportunities, Challenges, and Consumer Expectations

Hispanic Market in the U.S.

Key Takeaways

Covid-19 Impact

Demographic Profile

Geographic Distribution

Opportunities, Challenges, and Consumer Expectations

African-American Market

Key Takeaways

Covid-19 Impact

Demographic Profile

Geographic Distribution

Opportunities and Challenges

Asian-American Market

Key Takeaways

Covid-19 Impact

Demographic Profile

Geographic Distribution

Opportunities and Challenges

For more information about this report visit https://www.researchandmarkets.com/r/8vv78u