{"id":3088,"date":"2023-02-23T22:53:04","date_gmt":"2023-02-23T22:53:04","guid":{"rendered":"https:\/\/www.amalgamatedbenefits.com\/amalgamated-life\/?p=3088"},"modified":"2024-07-01T10:22:41","modified_gmt":"2024-07-01T14:22:41","slug":"a-close-up-on-the-disability-insurance-market","status":"publish","type":"post","link":"https:\/\/www.amalgamatedbenefits.com\/amalgamated-life\/a-close-up-on-the-disability-insurance-market\/","title":{"rendered":"A Close-up on the Disability Insurance Market"},"content":{"rendered":"
\"According<\/figure>\n

According to Allied Market Research, the global disability insurance market is projected to grow at a Compound Annual Growth Rate (CAGR) of 11.2% from 2022 to 2031, increasing its value from $3.3 billion in 2021 to $9.2 billion in 2031. This is impressive considering the hard hit disability insurance took during the pandemic, which saw demand decline due to the abrupt business lockdowns that occurred in 2020. Now, however, there has been a heightened awareness of disability insurance driven largely by insurance companies promoting this coverage and its importance.  It is the employer supplied disability insurance sector that is projected to experience the highest market share.<\/p>\n

North America to Experience the Highest Demand<\/h2>\n

North America has dominated the disability insurance market, a position it is expected to hold in the years ahead. This is due both to the number of major carriers in this region and the robust disability insurance products carriers across the region provide and their proactive marketing of their disability solutions. Along with growing awareness of disability insurance by consumers, other factors influencing its growth include:<\/p>\n