Worldwide Facts About Life Insurance
Most don’t give it much thought, but life insurance is a product that extends beyond the U.S. borders. It is sold worldwide. There are some aspects that can change from country to country, while others are the same or similar. Here is a look at “the world” of life insurance.
The United States is the Global Leader in Life Insurance
While life insurance is available in many countries, most of it is still sold in the U.S. In fact, it is estimated that 55% of all life insurance is sold here.
Your Coverage Extends to Other Countries
Your U.S.-based life insurance policy remains in force should you visit, or even move to, another country, assuming you keep your premiums up-to-date. However, you should let your provider know if you have moved.
Life Insurance in China
Life insurance in China is administered by a state-run financial enterprise. Life insurance in China is not mandatory. In terms of overall premiums paid, China is second only to the United States.
Life Insurance in Russia
Life insurance is the most popular insurance product that is non-compulsory in the country. Much like in the United States, a large number of insurance companies compete against each other to gain market share.
Life Insurance in India
IndiaFirst Life Insurance Company is India’s first life insurance firm that started in 2009. The company has seen rapid growth and offers both group and individual insurance policies.
Life Insurance in Egypt
There are only 32 companies selling insurance in Egypt, and only 13 of those are considered life insurance companies.
Life Insurance in Japan
A large percentage of households in Japan have life insurance, making it the third highest country in the world for life insurance premiums.
What is your life insurance situation? Do you have enough to take care of final expenses? What about your debts? Could you pay off your house or provide for your spouse and family? You may be surprised at how affordable life insurance may be. Contact one of our independent insurance agents for a free quote today.
