PUBLISHER: Grand View Research | PRODUCT CODE: 1678544
PUBLISHER: Grand View Research | PRODUCT CODE: 1678544
U.S. Group Level Term Insurance Market Size, Share & Trends Analysis Report By Distribution Channel (Tied Agents And Branches, Brokers), Key Companies, Competitive Analysis, And Segment Forecasts, 2025 - 2030
U.S. Group Level Term Insurance Market Growth & Trends:
The U.S. group level term insurance market size is estimated to reach USD 10.57 billion by 2030, expanding at a CAGR of 6.5% from 2025 to 2030, according to a new report by Grand View Research, Inc. Insurers are incorporating technology and digitizing their processes to make the underwriting process faster, more efficient, and more accessible to consumers. This has made it easier for businesses to purchase group term insurance policies, positively impacting the market.
In today's competitive insurance market, insurers continuously seek ways to differentiate themselves from their competitors and provide value to their customers. One way they are doing this is by introducing new products that meet the changing needs of consumers. This includes customized coverage options, flexible payment structures, and value-added services.
In May 2020, The Guardian Life Insurance Company of America introduced a new feature in its Guardian's level term life insurance, a charitable benefit rider that is built into the policy. This rider allows policyholders to donate a portion of their life insurance proceeds to a charity of their choice. It enables them to support causes they care about while still providing for their loved ones.
The COVID-19 pandemic has significantly impacted the market. Many businesses realized the importance of offering comprehensive employee benefits to attract and retain top talent, and group-level term insurance is becoming an increasingly popular option. With more companies offering this benefit, the demand for group-level term insurance policies is also increasing, leading to growth in the market.
U.S. Group Level Term Insurance Market Report Highlights:
- The tied agents and branches segment accounted for the largest share of 55.3% in 2024. Agents and branches are often affiliated with established insurance companies that have a strong reputation in the market. This helps to build trust with customers, who are more likely to purchase insurance policies from companies they recognize and trust.
- The brokers segment is expected to grow at the fastest rate over the forecast period. Brokers have access to a broad range of insurance policies and carriers, which allows them to find the best coverage options at competitive prices. This makes them a preferred choice for many businesses seeking group term life insurance for their employees.
- Market players are driving the U.S. group level term insurance market by introducing innovative products and technologies, expanding their distribution channels, and partnering with other players to increase their market share. In addition, players are offering competitive pricing, flexible coverage options, and customized solutions to meet the evolving needs of customers.
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation and Scope
- 1.2. Research Methodology
- 1.2.1. Information Procurement
- 1.3. Information or Data Analysis
- 1.4. Methodology
- 1.5. Research Scope and Assumptions
- 1.6. Market Formulation & Validation
- 1.7. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.3. Competitive Insights
Chapter 3. U.S. Group Level Term Insurance Market Variables, Trends, & Scope
- 3.1. Market Lineage Outlook
- 3.2. Market Dynamics
- 3.2.1. Market Driver Analysis
- 3.2.2. Market Restraint Analysis
- 3.2.3. Industry Challenge
- 3.3. U.S. Group Level Term Insurance Market Analysis Tools
- 3.3.1. Industry Analysis - Porter's
- 3.3.1.1. Bargaining power of the suppliers
- 3.3.1.2. Bargaining power of the buyers
- 3.3.1.3. Threats of substitution
- 3.3.1.4. Threats from new entrants
- 3.3.1.5. Competitive rivalry
- 3.3.2. PESTEL Analysis
- 3.3.2.1. Political landscape
- 3.3.2.2. Economic and social landscape
- 3.3.2.3. Technological landscape
- 3.3.1. Industry Analysis - Porter's
Chapter 4. U.S. Group Level Term Insurance Market: Distribution Channel Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. U.S. Group Level Term Insurance Market: Distribution Channel Movement Analysis, 2024 & 2030 (USD Million)
- 4.3. Tied Agents and Branches
- 4.3.1. Tied Agents and Branches Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.4. Brokers
- 4.4.1. Brokers Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.5. Others
- 4.5.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 5. Competitive Landscape
- 5.1. Company Categorization
- 5.2. Company Market Positioning
- 5.3. Company Heat Map Analysis
- 5.4. Company Profiles/Listing
- 5.4.1. MetLife
- 5.4.1.1. Participant's Overview
- 5.4.1.2. Financial Performance
- 5.4.1.3. Product Benchmarking
- 5.4.1.4. Strategic Initiatives
- 5.4.2. Prudential Financial, Inc.
- 5.4.2.1. Participant's Overview
- 5.4.2.2. Financial Performance
- 5.4.2.3. Product Benchmarking
- 5.4.2.4. Strategic Initiatives
- 5.4.3. Lincoln National Corporation
- 5.4.3.1. Participant's Overview
- 5.4.3.2. Financial Performance
- 5.4.3.3. Product Benchmarking
- 5.4.3.4. Strategic Initiatives
- 5.4.4. Unum Group
- 5.4.4.1. Participant's Overview
- 5.4.4.2. Financial Performance
- 5.4.4.3. Product Benchmarking
- 5.4.4.4. Strategic Initiatives
- 5.4.5. New York Life Insurance Company
- 5.4.5.1. Participant's Overview
- 5.4.5.2. Financial Performance
- 5.4.5.3. Product Benchmarking
- 5.4.5.4. Strategic Initiatives
- 5.4.6. Voya Services Company
- 5.4.6.1. Participant's Overview
- 5.4.6.2. Financial Performance
- 5.4.6.3. Product Benchmarking
- 5.4.6.4. Strategic Initiatives
- 5.4.7. United Healthcare Services, Inc.
- 5.4.7.1. Participant's Overview
- 5.4.7.2. Financial Performance
- 5.4.7.3. Product Benchmarking
- 5.4.7.4. Strategic Initiatives
- 5.4.8. Securian Financial Group, Inc.
- 5.4.8.1. Participant's Overview
- 5.4.8.2. Financial Performance
- 5.4.8.3. Product Benchmarking
- 5.4.8.4. Strategic Initiatives
- 5.4.9. Reliance Standard Life Insurance Co.
- 5.4.9.1. Participant's Overview
- 5.4.9.2. Financial Performance
- 5.4.9.3. Product Benchmarking
- 5.4.9.4. Strategic Initiatives
- 5.4.10. The Guardian Life Insurance Company of America
- 5.4.10.1. Participant's Overview
- 5.4.10.2. Financial Performance
- 5.4.10.3. Product Benchmarking
- 5.4.10.4. Strategic Initiatives
- 5.4.1. MetLife
List of Tables
- Table 1 U.S. Group Level Term Insurance market size estimates & forecasts 2018 - 2030 (USD Million)
- Table 2 U.S. Group Level Term Insurance market, by Distribution Channel 2018 - 2030 (USD Million)
- Table 3 U.S. Group Level Term Insurance market, by Tied Agents and Branches, by region 2018 - 2030 (USD Million)
- Table 4 U.S. Group Level Term Insurance market, by Brokers, by region 2018 - 2030 (USD Million)
- Table 5 U.S. Group Level Term Insurance market, by other distribution channel, by region 2018 - 2030 (USD Million)
List of Figures
- Fig. 1 U.S. Group Level Term Insurance market segmentation
- Fig. 2 Market research process
- Fig. 3 Information procurement
- Fig. 4 Primary research pattern
- Fig. 5 Market research approaches
- Fig. 6 Value chain-based sizing & forecasting
- Fig. 7 Parent market analysis
- Fig. 8 Market formulation & validation
- Fig. 9 U.S. Group Level Term Insurance market snapshot
- Fig. 10 U.S. Group Level Term Insurance market segment snapshot
- Fig. 11 U.S. Group Level Term Insurance market competitive landscape snapshot
- Fig. 12 Market research process
- Fig. 13 Market driver relevance analysis (Current & future impact)
- Fig. 14 Market restraint relevance analysis (Current & future impact)
- Fig. 15 U.S. Group Level Term Insurance market, Distribution Channel outlook key takeaways (USD Million)
- Fig. 16 U.S. Group Level Term Insurance market, Distribution Channel movement analysis, 2024 & 2030 (USD Million)
- Fig. 17 Tied Agents and Branches market revenue estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 18 Brokers market revenue estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 19 Others market revenue estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 20 Strategy framework
- Fig. 21 Company Categorization
