Research and Markets: United Kingdom Life Insurance Study 2014

DUBLIN--()--Research and Markets (http://www.researchandmarkets.com/research/n86t9f/life_insurance) has announced the addition of the "Life Insurance 2014" report to their offering.

This report analyses the market for life protection products. This covers a number of different life insurance products, funds and payment methods. Life protection products refers to both term insurance and life assurance (also known as whole-of-life assurance); although they differ, both types of product involve a contract between the insured and the insurer, whereby the insurer agrees to pay a sum of money on the death of the insured. The policyholder usually makes regular premium contributions and, on the event of their death, a lump sum is paid out by the insurer. Life protection products are taken out for many reasons, although one of the most common is to protect dependent family members from the financial distress of losing a loved one who is the household's main breadwinner. Payouts from life protection products can be used to meet the policyholder's debt obligations after their death, typically a mortgage.

Many life protection policies, especially those linked to mortgages, often come with some degree of critical illness cover attached so that the policy pays out not only on death but also at the onset of a selection of seriously debilitating diseases or conditions. Where critical illness insurance has been included as part of life insurance, this report has included sales figures for the overall product; however, where the policy is just standalone critical illness insurance, this report has excluded these figures. These will be made available in later publications focusing on the sector.

Below are a selection of definitions for the products, funds and premium payments discussed in this report:

  • Assurance - assurance provides cover against something that is certain to happen, such as death; whole-of-life policies are assurance policies because they last until the policyholder's inevitable death, whenever that may be.
  • Insurance - in contrast to assurance, insurance only provides cover for the risk of something happening; term insurance policies are therefore so called because they insure against the risk of the policyholder possibly dying within the term of the insurance contract and not their inevitable death, whenever that may be in the future.
  • Critical illness insurance - a long-term insurance policy which provides the policyholder with a tax-free lump sum if they are diagnosed with one of the serious illnesses covered by an insurance policy. Typical illnesses covered by such policies include heart attacks, strokes, certain types and stages of cancer and conditions such as multiple sclerosis. Policies are designed to pay off mortgages and other debts if a severely debilitating health episode prevents the insured from working.
  • Death benefit - the sum of money received by the policyholder's beneficiaries on the policyholder's death.
  • Single life insurance - covers one person only, and pays out the chosen amount of cover if that single person dies with the policy in force.
  • Joint life insurance - covers two lives, most commonly on a first death' basis; this means that the chosen amount of cover is paid on the death of the first person (providing this falls during the length of the policy) and the policy then ends, even if the partner' in the policy survives the death of the first party, leaving the survivor without cover

Key Topics Covered:

1. INTRODUCTION

2. REPORT COVERAGE AND DEFINITIONS

3. KEY DRIVERS

4. MARKET TRENDS

5. ECONOMIC TRENDS

6. KEY CURRENT ISSUES

7. MARKET POSITION

8. HOW ROBUST IS THE MARKET?

9. MARKET SIZE AND SEGMENTATION

10. FORECASTS

11. GLOBAL LIFE EXPECTANCY

12. GLOBAL INDEBTEDNESS

13. OVERVIEW OF GLOBAL ECONOMIC CONDITIONS

14. THE GLOBAL INSURANCE MARKET

15. THE STATE OF THE LIFE INSURANCE MARKET

16. THE MARKETPLACE

17. MARKET LEADERS

18. NUMBER OF COMPANIES

19. DISTRIBUTION

20. MARKETING ACTIVITY

21. KEY TRADE ASSOCIATIONS

22. CONSUMER PENETRATION

23. BUYING BEHAVIOUR - LIFE ASSURANCE

24. CONSUMER DYNAMICS

25. STRENGTHS

26. ECONOMIC

27. SOCIAL

28. TECHNOLOGICAL

29. ENVIRONMENTAL

30. LEGISLATIVE

Companies Mentioned

- Aviva Life & Pensions UK Ltd

- Canada Life Ltd

- Friends Life Ltd

- Legal & General Assurance Society Ltd

- Liverpool Victoria Friendly Society Ltd

- National Farmers Union Mutual Insurance Society Ltd (The)

- Old Mutual PLC

- Pearl Group Holdings (No 2) Ltd

- Prudential Assurance Company Ltd (The)

- Royal London Mutual Insurance Society Ltd (The)

- Scottish Equitable PLC

- Scottish Widows PLC

- Standard Life Assurance Ltd

- Zurich Assurance Ltd

- OTHER COMPANIES

- Ageas Protect Ltd

- AXA Wealth Services Ltd

- The Co-operative Banking Group

- Forester Life Ltd

- Homeowners Friendly Society Ltd

- HSBC Life (UK) Ltd

- Neilson Financial Services Ltd

- Wesleyan Assurance Society

For more information visit http://www.researchandmarkets.com/research/n86t9f/life_insurance

Contacts

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Sector: Life Insurance

Contacts

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Sector: Life Insurance