Published on 13 Dec 2023 on Insider Monkey via Yahoo Finance
15 Best Life Insurance Companies Heading into 2024
In this article, we will look into the 15 best life insurance companies heading into 2024. If you want to skip our detailed analysis, you can go directly to the 5 Best Life Insurance Companies Heading into 2024.
Life Insurance Industry: A Market Analysis
Life insurance provides insurance to individuals against the financial repercussions of an unforeseen event such as an illness, accident, or death. According to a report by Research and Markets, the global life insurance market was worth $3.45 trillion in 2022. The market is expected to grow at a CAGR of 5.5% and reach $4.80 trillion by 2028. The growth can be attributed to the growing awareness and concern about financial security among people. With the increasing risks and uncertainties, people are becoming more mindful of having a secure financial future. Another significant factor driving the global life insurance market is a rise in the aging population, which is creating a higher demand for financial security.