Privately placed life insurance (PPLI) is generally structured and described as a variable universal life insurance policy. In PPLI, premiums are flexible. The holders of insurance policy can pay any amount of their choice as premium at the time of their ease. From the cash value in the policy subaccounts, the cost of insurance is deducted on monthly basis or yearly basis. Private placement life insurance have been growing in terms of awareness and in terms of availability owing to various benefits provided under the plans coupled with the positive response shown by the end user audience for the market offerings.
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The major factor driving the global private placement life insurance (PPLI) market is the various benefits of insurance that are associated with wealth planning strategies for the clients. In order to fulfill future tax obligations, insurance can suffice as a cost-effective and tax-efficient tool. Insurance can provide immediate liquidity as well as tax-free liquidity that can be used for fulfilling estate obligations including taxes, probate and estate settlement costs. As circumstances may require, these obligations can be fulfilled on either a single life basis or joint last-to-die basis. If the insurance policy holder dies prematurely, insurance proceeds can ensure that their dependents (such as children or spouse) are financially protected. For this purpose, usually people buy low-cost term insurance policy.
The recruitment of accredited investors to procure private placement life insurance is anticipated to propel the growth of global private placement life insurance (PPLI) market over the forecast period. Accredited investors work with people possessing significant amount of assets. Accredited investors have experience of working with hedge funds or other methods of wealth management, where only people who meet certain financial criteria are eligible to participate.
The global private placement life insurance (PPLI) market accounted for US$ 77.19 Mn in 2020, and is expected to grow at a CAGR of more than 16% during the forecast years (2021-2029).
The detailed research study provides qualitative and quantitative analysis of private placement life insurance (PPLI) market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
Key Findings of the Report:
- During the forecast period, the commodity funds segment is anticipated to register highest growth rate owing to the flexible nature of commodity funds. Commodity funds can not only fulfil short term goals but also long term goals.
- Based on subscription process, the streamlined subscription process segment of global private placement life insurance (PPLI) market held the largest market share in 2020 due to increasing use of information technology (IT) in every industry including insurance. A streamlined process for insurance through an app or web platform helps insurance customers to initiate a claim without having to go through customer service. It can speed up the claim process, reduce the turnaround time required and give peace of mind to customers throughout the process.
- Considering users, the high-net-worth individuals segment in the global private placement life insurance (PPLI) market are estimated to register highest growth rate owing to the tax benefits associated with the insurance product. Because of the tax benefits, the wealthy people are increasingly embracing PPLI.
- In 2020, North America was the biggest regional market in the global private placement life insurance (PPLI) market due to strong economy. Countries like USA and Canada have well established laws to prevent insurance fraud, which is attributing to the region’s growth in the global market.
- Some of the major players operating in the global private placement life insurance (PPLI) market are ADVANTAGE INSURANCE INC., Axia Global, Cohn Financial Group LLC, COPPERSTONE INSURANCE SERVICES LLC, Creatrust, Crown Global Insurance Group LLC, Evergreen, Financial Designs Ltd., Geneva Management Group, Informa USA Inc., Insurance and Estate Strategies LLC, My National Family Office Inc., Sage Capital Advisors, SFS Global Corp., TOWER STRATEGIC GROUP LLC, Winged Keel Group, and Wisdom Capital, amongst others.
Global Private Placement Life Insurance (PPLI) Market:
- By Type
- Hedge Funds
- Managed Accounts
- Private Equity
- Derivatives
- Venture Capital
- Commodity Funds
- Real Estate Investment Funds
- By Subscription process
- Streamlined subscription process
- Customized subscription process
- By Contract type
- Modified Endowment Contract (MEC)
- Non-Modified individual Endowment Contract (Non-MEC)
- By Users
- Family offices
- High-net-Worth Individuals
- Others
- By Region
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- North America
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