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(MoneyNewsWire.Net, August 23, 2018 ) Critical illness insurance, otherwise known as critical illness cover or a dread disease policy, is an insurance product in which the insurer is contracted to typically make a lump sum cash payment if the policyholder is diagnosed with one of the specific illnesses on a predetermined list as part of an insurance policy.
The policy may also be structured to pay out regular income and the payout may also be on the policyholder undergoing a surgical procedure, for example, having a heart bypass operation.
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The following manufacturers are covered in this report: ChinaLifeInsurance ,PingAnInsurance, ChinaPacificInsurance, Aviva, Legal&General, NewChinaLifeInsurance, AXA, Prudentialplc, Aegon, Allianz, AIG, UnitedHealthcare, Zurich, MetLife, Dai-ichiLifeGroup, SunLifeFinancial, HuaxialifeInsurance, Aflac, LibertyMutual, HCF.
Market Segment by Regions, regional analysis covers
• North America (United States, Canada and Mexico)
• Europe (Germany, France, UK, Russia and Italy)
• Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
• South America (Brazil, Argentina, Colombia)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Market Segment by Type, covers
• Disease Insurance
• Medical Insurance
• Income Protection Insurance
Market Segment by Applications, can be divided into
• Cancer
• Heart Attack
• Stroke
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Scope of the Report:
This report studies the Critical Illness Insurance market status and outlook of Global and major regions, from angles of players, countries, product types and end industries; this report analyzes the top players in global market, and splits the Critical Illness Insurance market by product type and applications/end industries.
Critical illness insurance, otherwise known as critical illness cover or a dread disease policy, is an insurance product in which the insurer is contracted to typically make a lump sum cash payment if the policyholder is diagnosed with one of the specific illnesses on a predetermined list as part of an insurance policy.
In the last several years, global market of critical illness insurance developed rapidly, with CAGR of 16.48%. In 2017, global market size of critical illness insurance is nearly 27338.56 M USD; Asia region, especially China is estimated to account for the largest share, in terms of Population and economy, of the global critical illness insurance market in 2017. The region comprises some of the fastest developing economies in the world, including China, India, Japan and Korea. This has led to an increase in Insurance investment over the years.
There are three kinds of Critical illness insurance paid out (cancer, Cancer, Heart Attack and Stroke), Cancer remains the most common cause of critical illness claims at 67.94%, followed by heart attack (13.34%), stroke (8.46%) and Other (10.26%) in 2017
The global Critical Illness Insurance market is valued at 25600 million USD in 2017 and is expected to reach 63700 million USD by the end of 2023, growing at a CAGR of 16.4% between 2017 and 2023.
The Asia-Pacific will occupy for more market share in following years, especially in China, also fast growing India and Southeast Asia regions.
North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of Critical Illness Insurance.
Europe also play important roles in global market, with market size of xx million USD in 2017 and will be xx million USD in 2023, with a CAGR of xx%.
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