Term life insurance in Germany
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The German term insurance market is well developed and competitive. In 2012, the term insurance premium volume was about EUR 3 177 million (new business reached EUR 355 million) and there were 7.48 million policies in force. Premium income from in-force business has been growing slowly but steadily since 1995. However, new sales peaked in 2006 and have been declining since then, with no
signs of recovery.1 As a result, insurers are increasingly competing on price.