As life insurers seek to find more buyers in the United States, sales in foreign markets are booming for some carriers, particularly in Asia as millions continue to transition into the middle class.
Meanwhile, carriers are also courting specific markets within the United States, including Hispanics, gay couples, up-and-coming Gen Yers, and women — particularly those who are the main breadwinner in their household.
The growing middle class in Asia — as well as in the emerging markets of Russia, Turkey and Brazil — are fueling the growth in life insurance sales overseas, according to Trefis, an online investment research site developed by MIT engineers and Wall Street analysts. In Asia, more than 1.2 billion people expected to make the transition into the middle class by 2020, with China presenting one of the greatest opportunities for more life insurance sales.
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Katie Kuehner-Hebert
Katie Kuehner-Hebert is a freelance writer based in Running Springs, Calif. She has more than three decades of journalism experience, with particular expertise in employee benefits and other human resource topics.
