The Burial Insurance Market study analyzes and forecasts the market size across 6 regions and 24 countries for diverse segments including By Coverage (Level Death Benefit, Guaranteed Acceptance, Modified or Graded Death Benefit), By Age (Over 50, Over 60, Over 70, Over 80).
Burial insurance, also known as final expense insurance or funeral insurance, is a type of life insurance designed to cover end-of-life expenses such as funeral costs, burial expenses, and outstanding debts. The burial insurance market in 2024 addresses the needs of individuals and families seeking financial protection and peace of mind by ensuring that funeral and burial expenses are covered without imposing financial burdens on surviving loved ones. Market dynamics are influenced by factors such as the aging population, increasing funeral costs, and the desire for financial security and legacy planning. Collaboration between insurance companies, funeral service providers, and financial advisors contributes to product innovation and market growth in burial insurance, offering individuals and families customizable solutions to meet their end-of-life planning needs.
A significant trend in the Burial Insurance market is the increasing demand for final expense planning among aging populations and their families. As individuals become more aware of the financial burdens associated with end-of-life expenses, including funeral costs, burial insurance policies are gaining popularity as a way to ensure that loved ones are not left with the financial burden of funeral arrangements. This trend is driving the uptake of burial insurance products and services, prompting insurance providers to offer more tailored solutions to meet the specific needs of consumers seeking peace of mind regarding their final expenses.
A key driver for the Burial Insurance market is the aging population and the escalating costs of funeral services. With a growing number of baby boomers reaching retirement age and beyond, there is a corresponding increase in the demand for burial insurance as individuals seek to alleviate the financial strain on their families upon their passing. Additionally, the rising costs of funeral services, including caskets, burial plots, and ceremony expenses, further motivate individuals to secure burial insurance coverage to ensure that their final wishes are met without imposing undue financial hardship on their loved ones.
One potential opportunity in the Burial Insurance market lies in the expansion of distribution channels and digital outreach strategies to reach a broader audience of potential policyholders. As consumer preferences shift towards online research and purchasing, insurance providers can capitalize on digital marketing channels, including social media, search engines, and online marketplaces, to increase visibility and accessibility of burial insurance products. Moreover, partnering with funeral homes, senior living communities, and financial advisors can enhance distribution networks and facilitate personalized consultations to educate consumers about the benefits of burial insurance, ultimately driving market growth and penetration.
By Coverage
Level Death Benefit
Guaranteed Acceptance
Modified or Graded Death Benefit
By Age
Over 50
Over 60
Over 70
Over 80
Geographical Analysis
North America (United States, Canada, Mexico)
Europe (Germany, France, United Kingdom, Spain, Italy, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
South America (Brazil, Argentina, Rest of South America)
Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East, South Africa, Egypt, Rest of Africa)
Allianz Life
Colonial Penn
Fidelity Life Association
Foresters Life Insurance and Annuity Company
Generali
Gerber Life Insurance Company
Globe Life Inc (Globe Life and Accident Insurance Company)
Mutual of Omaha
Royal Neighbors of America
The Baltimore Life
Zurich Insurance
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TABLE OF CONTENTS
1 Introduction to 2024 Burial Insurance Market
1.1 Market Overview
1.2 Quick Facts
1.3 Scope/Objective of the Study
1.4 Market Definition
1.5 Countries and Regions Analyzed
1.6 Units, Currency, and Conversions
1.7 Industry Value Chain
2 Research Methodology
2.1 Market Size Estimation
2.2 Sources and Research Methodology
2.3 Data Triangulation
2.4 Assumptions and Limitations
3 Executive Summary
3.1 Global Burial Insurance Market Size Outlook, $ Million, 2021 to 2030
3.2 Burial Insurance Market Outlook By Type, $ Million, 2021 to 2030
3.3 Burial Insurance Market Outlook By Product, $ Million, 2021 to 2030
3.4 Burial Insurance Market Outlook By Application, $ Million, 2021 to 2030
3.5 Burial Insurance Market Outlook by Key Countries, $ Million, 2021 to 2030
4 Market Dynamics
4.1 Key Driving Forces of Burial Insurance Market Industry
4.2 Key Market Trends in Burial Insurance Market Industry
4.3 Potential Opportunities in Burial Insurance Market Industry
4.4 Key Challenges in Burial Insurance Market Industry
5 Market Factor Analysis
5.1 Competitive Landscape
5.1.1 Global Burial Insurance Market Share by Company (%), 2023
5.1.2 Product Offerings by Company
5.2 Porter’s Five Forces Analysis
6 Growth Outlook Across Scenarios
6.1 Growth Analysis-Case Scenario Definitions
6.2 Low Growth Scenario Forecasts
6.3 Reference Growth Scenario Forecasts
6.4 High Growth Scenario Forecasts
7 Global Burial Insurance Market Outlook By Segments
7.1 Burial Insurance Market Outlook by Segments
By Coverage
Level Death Benefit
Guaranteed Acceptance
Modified or Graded Death Benefit
By Age
Over 50
Over 60
Over 70
Over 80
8 North America Burial Insurance Market Analysis And Outlook To 2030
8.1 Introduction to North America Burial Insurance Markets in 2024
8.2 North America Burial Insurance Market Size Outlook by Country, 2021-2030
8.2.1 United States
8.2.2 Canada
8.2.3 Mexico
8.3 North America Burial Insurance Market size Outlook by Segments, 2021-2030
By Coverage
Level Death Benefit
Guaranteed Acceptance
Modified or Graded Death Benefit
By Age
Over 50
Over 60
Over 70
Over 80
9 Europe Burial Insurance Market Analysis And Outlook To 2030
9.1 Introduction to Europe Burial Insurance Markets in 2024
9.2 Europe Burial Insurance Market Size Outlook by Country, 2021-2030
9.2.1 Germany
9.2.2 France
9.2.3 Spain
9.2.4 United Kingdom
9.2.4 Italy
9.2.5 Russia
9.2.6 Norway
9.2.7 Rest of Europe
9.3 Europe Burial Insurance Market Size Outlook By Segments, 2021-2030
By Coverage
Level Death Benefit
Guaranteed Acceptance
Modified or Graded Death Benefit
By Age
Over 50
Over 60
Over 70
Over 80
10 Asia Pacific Burial Insurance Market Analysis And Outlook To 2030
10.1 Introduction to Asia Pacific Burial Insurance Markets in 2024
10.2 Asia Pacific Burial Insurance Market Size Outlook by Country, 2021-2030
10.2.1 China
10.2.2 India
10.2.3 Japan
10.2.4 South Korea
10.2.5 Indonesia
10.2.6 Malaysia
10.2.7 Australia
10.2.8 Rest of Asia Pacific
10.3 Asia Pacific Burial Insurance Market size Outlook by Segments, 2021-2030
By Coverage
Level Death Benefit
Guaranteed Acceptance
Modified or Graded Death Benefit
By Age
Over 50
Over 60
Over 70
Over 80
11 South America Burial Insurance Market Analysis And Outlook To 2030
11.1 Introduction to South America Burial Insurance Markets in 2024
11.2 South America Burial Insurance Market Size Outlook by Country, 2021-2030
11.2.1 Brazil
11.2.2 Argentina
11.2.3 Rest of South America
11.3 South America Burial Insurance Market size Outlook by Segments, 2021-2030
By Coverage
Level Death Benefit
Guaranteed Acceptance
Modified or Graded Death Benefit
By Age
Over 50
Over 60
Over 70
Over 80
12 Middle East And Africa Burial Insurance Market Analysis And Outlook To 2030
12.1 Introduction to Middle East and Africa Burial Insurance Markets in 2024
12.2 Middle East and Africa Burial Insurance Market Size Outlook by Country, 2021-2030
12.2.1 Saudi Arabia
12.2.2 UAE
12.2.3 Oman
12.2.4 Rest of Middle East
12.2.5 Egypt
12.2.6 Nigeria
12.2.7 South Africa
12.2.8 Rest of Africa
12.3 Middle East and Africa Burial Insurance Market size Outlook by Segments, 2021-2030
By Coverage
Level Death Benefit
Guaranteed Acceptance
Modified or Graded Death Benefit
By Age
Over 50
Over 60
Over 70
Over 80
13 Company Profiles
13.1 Company Snapshot
13.2 SWOT Profiles
13.3 Products and Services
13.4 Recent Developments
13.5 Financial Profile
List of Companies
Allianz Life
Colonial Penn
Fidelity Life Association
Foresters Life Insurance and Annuity Company
Generali
Gerber Life Insurance Company
Globe Life Inc (Globe Life and Accident Insurance Company)
Mutual of Omaha
Royal Neighbors of America
The Baltimore Life
Zurich Insurance
14 Appendix
14.1 Customization Offerings
14.2 Subscription Services
14.3 Related Reports
14.4 Publisher Expertise
By Coverage
Level Death Benefit
Guaranteed Acceptance
Modified or Graded Death Benefit
By Age
Over 50
Over 60
Over 70
Over 80
The global Burial Insurance Market is one of the lucrative growth markets, poised to register a 7.5% growth (CAGR) between 2024 and 2032.
Emerging Markets across Asia Pacific, Europe, and Americas present robust growth prospects.
Allianz Life, Colonial Penn, Fidelity Life Association, Foresters Life Insurance and Annuity Company, Generali, Gerber Life Insurance Company, Globe Life Inc (Globe Life and Accident Insurance Company), Mutual of Omaha, Royal Neighbors of America, The Baltimore Life, Zurich Insurance
Base Year- 2023; Estimated Year- 2024; Historic Period- 2018-2023; Forecast period- 2024 to 2030; Currency: USD; Volume