Dublin, March 07, 2022 (GLOBE NEWSWIRE) -- The "Financial Protection Market by Type, Policy Coverage and End User: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
Financial protection provides a regular replacement income if someone is unable to work because of illness or injury. Typically, an income protection policy pays out after the insured person has been off work for 6 months often called a deferred or waiting period and can pay a percentage of their salary until either they return to work, reach state pension age, or if they die while claiming.
However, the employer, or individual can choose their waiting period for getting the payment from financial protection scheme. Moreover, if an employee is able to return to work on a reduced basis, financial protection plans pay a reduced amount of salary, which can be compensated with the salary received by the employee after joining the office.
Financial protection ensures income of insured person continues even if they cannot work and ensure financial protection of their families. This is a major growth factor for the financial protection market. In addition, financial protection can be customized as per the insured person and financial protection gives mental peace to the insured person to focus on their health recovery. Therefore, these are some of the factors propelling the market growth.
However, pre-existing medical conditions affecting premiums for financial protection and longer waiting periods are some of the major factors limiting the financial protection market. On the contrary, instability in the employment rate due to which people lose their job and are unable to pay for basic needs require income protection plans to pay for their daily needs such as groceries and medical bills, which is expected to increase demand for financial protection in the coming years.
The financial protection market is segmented on the basis of type, policy coverage, end user, and region. By type, it is segmented into long-term financial protection and short-term financial protection. By policy coverage, it is bifurcated into payment protection and mortgage payment protection. By end user type, the market is divided into men and women. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The report analyzes the profiles of key players operating in the financial protection market such as AXA, ABI, American International Group, Inc., Aviva, Aon, Citizens Advice, Marsh Ltd., StanCorp Financial Group, Inc., The Guardian Life Insurance Company of America, and Zurich. These players have adopted various strategies to increase their market penetration and strengthen their position in the financial protection market.
Key Benefits
- The study provides in-depth analysis of the global financial protection market along with the current & future trends to illustrate the imminent investment pockets.
- Information about key drivers, restrains, & opportunities and their impact analysis on the global financial protection market size are provided in the report.
- Porter's five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
- The quantitative analysis of the global financial protection market from 2021 to 2028 is provided to determine the market potential.
Key Topics Covered:
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key forces shaping global financial protection market
3.3. Market dynamics
3.3.1. Drivers
3.3.1.1. Financial protection ensures continuation of income even if the insured cannot work due to health condition
3.3.1.2. Income protection insurance can be customized
3.3.1.3. Income protection provides mental peace to the insured to focus on their recovery
3.3.2. Restraints
3.3.2.1. Pre-existing medical conditions affect premiums
3.3.2.2. Longer waiting period for certain insurance policies
3.3.3. Opportunities
3.3.3.1. Instability of employment rate
3.4. COVID-19 impact analysis on financial protection market
3.4.1. Impact on financial protection market size
3.4.2. Change in consumer trends, preferences, and budget impact, owing to COVID-19
3.4.3. Framework for market challenges faced by financial protection providers
3.4.4. Economic impact on financial protection providers
3.4.5. Key player strategies to tackle negative impact on the industry
3.4.6. Opportunity analysis for financial protection providers
CHAPTER 4: FINANCIAL PROTECTION MARKET, BY TYPE
4.1. Overview
4.2. Long Term Financial Protection
4.2.1. Key market trends, growth factors, and opportunities
4.2.2. Market size and forecast, by region
4.2.3. Market analysis, by country
4.3. Short Term Financial Protection
4.3.1. Key market trends, growth factors, and opportunities
4.3.2. Market size and forecast, by region
4.3.3. Market analysis, by country
CHAPTER 5: FINANCIAL PROTECTION MARKET, BY POLICY COVERAGE
5.1. Overview
5.2. Payment Protection
5.2.1. Key market trends, growth factors, and opportunities
5.2.2. Market size and forecast, by region
5.2.3. Market analysis, by country
5.3. Mortgage Payment Protection
5.3.1. Key market trends, growth factors, and opportunities
5.3.2. Market size and forecast, by region
5.3.3. Market analysis, by country
CHAPTER 6: FINANCIAL PROTECTION MARKET, BY END USER
6.1. Overview
6.2. Men
6.2.1. Key market trends, growth factors, and opportunities
6.2.2. Market size and forecast, by region
6.2.3. Market analysis, by country
6.3. Women
6.3.1. Key market trends, growth factors, and opportunities
6.3.2. Market size and forecast, by region
6.3.3. Market analysis, by country
CHAPTER 7: FINANCIAL PROTECTION MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
8.1. Introduction
8.1.1. Market player positioning, 2020
8.2. Competitive dashboard
CHAPTER 9: COMPANY PROFILES
9.1. AXA
9.1.1. Company overview
9.1.2. Key executive
9.1.3. Company snapshot
9.1.4. Operating business segments
9.1.5. Product portfolio
9.1.6. Business performance
9.2. ABI
9.2.1. Company overview
9.2.2. Company snapshot
9.2.3. Product portfolio
9.3. AMERICAN INTERNATIONAL GROUP, INC.
9.3.1. Company overview
9.3.2. Key executive
9.3.3. Company snapshot
9.3.4. Operating business segments
9.3.5. Product portfolio
9.3.6. Business performance
9.4. Aviva
9.4.1. Company overview
9.4.2. Company snapshot
9.4.3. Product portfolio
9.4.4. Business performance
9.5. Aon plc
9.5.1. Company overview
9.5.2. Company snapshot
9.5.3. Product portfolio
9.5.4. Business performance
9.6. Citizens Advice
9.6.1. Company overview
9.6.2. Company snapshot
9.6.4. Product portfolio
9.7. Marsh LLC
9.7.1. Company overview
9.7.2. Company snapshot
9.7.3. Product portfolio
9.8. StanCorp Financial Group, Inc.
9.8.1. Company overview
9.8.2. Company snapshot
9.8.3. Product portfolio
9.9. The Guardian Life Insurance Company of America
9.9.1. Company overview
9.9.2. Company snapshot
9.9.3. Product portfolio
9.10. ZURICH
9.10.1. Company overview
9.10.2. Company snapshot
9.10.3. Operating business segments
9.10.4. Product portfolio
9.10.5. Business performance
For more information about this report visit https://www.researchandmarkets.com/r/xboc44
