The individual life insurance policies in the U.S. are anticipated to steadily increase from 3.16 million units in 2024 to 3.26 million units in 2028. In 2023, these policies stood at approximately 3.14 million units. Year-on-year growth is modest, around 0.63% on average. The CAGR over five years is expected to be approximately 0.75%.
Future trends to watch for:
- Demographic shifts, such as aging populations, impacting demand.
- Economic factors affecting consumer purchasing power and policy affordability.
- Technological advancements enhancing policy offerings and customer engagement.
