Global Critical Illness Insurance market is expected to reach 79400 million US$ by the end of 2025

Publisher: QYResearch

Published Date: 2019/1/4

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.

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.

In 2017, the global Critical Illness Insurance market size was 25600 million US$ and it is expected to reach 79400 million US$ by the end of 2025, with a CAGR of 15.2% during 2018-2025.

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