Burial Insurance Market, By Insurance Coverage, By Premium Payment Type, By Customer Age Group, By Distribution Channel, By Geography

Description

The global burial insurance market is estimated to be valued at USD 291.10 Bn in 2024 and is expected to reach USD 425.20 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 5.6% from 2024 to 2031.

Report Coverage		Report Details
Base Year:	2023	Market Size in 2024:	US$ 291.10 Bn
Historical Data for:	2019 To 2023	Forecast Period:	2024 To 2031
Forecast Period 2024 to 2031 CAGR:	5.60%	2031 Value Projection:	US$ 425.20 Bn

Figure. Burial Insurance Market Share (%), By Region 2024

The global burial insurance market has been witnessing steady growth in the recent years. Burial insurance, also known as funeral planning insurance, is a type of life insurance that provides payout to cover the costs associated with burial or cremation of the insured person upon their death. With rising life expectancy and increasing costs related to last rites and ceremonies, more individuals are opting for burial insurance policies. The growing elderly population base susceptible to health issues and medical expenses further substantiates the need for such insurance plans. Manufacturers are leveraging technological solutions to automate claims processing and provide efficient customer services aiding the market expansion. However, factors like economic downturns affecting individual spending may impede the market progress to a certain extent during the forecast period.

Market Dynamics:

The key drivers fueling the global burial insurance market include rapid growth of the aged population worldwide susceptible to health issues, rising funeral costs necessitating monetary protection, and increasing awareness among consumers about pre-planning funeral arrangements. However, the market growth can be restrained by factors such as economic slowdowns negatively impacting individual spending, stringent underwriting procedures followed by insurers, and preference for alternative saving instruments over insurance. On the opportunities front, digitization of insurance processes, customized plans as per client needs, and favorable government regulations are expected to unlock new avenues for the players in the coming years.

(Key Features of the Study):

This report provides in-depth analysis of the global burial insurance market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year

It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market

This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players

It profiles key players in the global burial insurance market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies

Key companies covered as a part of this study include Gerber Life, Foresters Financial, Allianz Life, AIG, American National, Assurity Life Insurance Company, Transamerica, Americo Financial Life and Annuity Insurance Company, Baltimore Life, AAA Life Insurance Company, State Farm, Sagicor Life Insurance Company, Mutual of Omaha, United Home Life Insurance Company, and New York Life Insurance Company

Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics

The global burial insurance market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts

Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global burial insurance market

Market Segmentation

Insurance Coverage Insights (Revenue, USD Bn, 2019 - 2031)
- Level Death Benefit
- Guaranteed Acceptance
- Modified or Graded Death Benefit
Premium Payment Type Insights (Revenue, USD Bn, 2019 - 2031)
- Monthly
- Quarterly
- Annually
Customer Age Group Insights (Revenue, USD Bn, 2019 - 2031)
- Over 50
- Over 60
- Over 70
- Over 80
Distribution Channel Insights (Revenue, USD Bn, 2019 - 2031)
- Direct Sales
- Insurance Brokers
- Online Platforms
Regional Insights (Revenue, USD Bn, 2019 - 2031)
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- South Africa
- North Africa
- Central Africa
Key Players Insights
- Gerber Life
- Foresters Financial
- Allianz Life
- AIG
- American National
- Assurity Life Insurance Company
- Transamerica
- Americo Financial Life and Annuity Insurance Company
- Baltimore Life
- AAA Life Insurance Company
- State Farm
- Sagicor Life Insurance Company
- Mutual of Omaha
- United Home Life Insurance Company
- New York Life Insurance Company

Product Code: CMI7534

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Global Burial Insurance Market, By Insurance Coverage
- Global Burial Insurance Market, By Premium Payment Type
- Global Burial Insurance Market, By Customer Age Group
- Global Burial Insurance Market, By Distribution Channel
- Global Burial Insurance Market, By Region

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
Driver
Restraint
Opportunity
Impact Analysis
Key Developments
Regulatory Scenario
Product Launches/Approvals
PEST Analysis
PORTER's Analysis
Merger and Acquisition Scenario
Industry Trends

4. Global Burial Insurance Market, By Insurance Coverage, 2019-2031, (USD Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
Level Death Benefit
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Guaranteed Acceptance
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Modified or Graded Death Benefit
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)

5. Global Burial Insurance Market, By Premium Payment Type, 2019-2031, (USD Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
Monthly
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Quarterly
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Annually
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)

6. Global Burial Insurance Market, By Customer Age Group, 2019-2031, (USD Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
Over 50
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Over 60
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Over 70
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Over 80
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)

7. Global Burial Insurance Market, By Distribution Channel, 2019-2031, (USD Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
Direct Sales
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Insurance Brokers
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Online Platforms
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)

8. Global Burial Insurance Market, By Region, 2019 - 2031, Value (USD Bn)

Introduction
- Market Share (%) Analysis, 2024, 2027 & 2031, Value (USD Bn)
- Market Y-o-Y Growth Analysis (%), 2020 - 2031, Value (USD Bn)
- Regional Trends
North America
- Introduction
- Market Size and Forecast, By Insurance Coverage , 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Premium Payment Type, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Customer Age Group, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Distribution Channel, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Bn)
  - U.S.
  - Canada
Latin America
- Introduction
- Market Size and Forecast, By Insurance Coverage , 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Premium Payment Type, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Customer Age Group, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Distribution Channel, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Bn)
  - Brazil
  - Argentina
  - Mexico
  - Rest of Latin America
Europe
- Introduction
- Market Size and Forecast, By Insurance Coverage , 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Premium Payment Type, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Customer Age Group, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Distribution Channel, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Bn)
  - Germany
  - U.K.
  - Spain
  - France
  - Italy
  - Russia
  - Rest of Europe
Asia Pacific
- Introduction
- Market Size and Forecast, By Insurance Coverage , 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Premium Payment Type, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Customer Age Group, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Distribution Channel, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Bn)
  - China
  - India
  - Japan
  - Australia
  - South Korea
  - ASEAN
  - Rest of Asia Pacific
Middle East
- Introduction
- Market Size and Forecast, By Insurance Coverage , 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Premium Payment Type, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Customer Age Group, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Distribution Channel, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Bn)
  - GCC Countries
  - Israel
  - Rest of Middle East
Africa
- Introduction
- Market Size and Forecast, By Insurance Coverage , 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Premium Payment Type, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Customer Age Group, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Distribution Channel, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country/Region, 2019 - 2031, Value (USD Bn)
  - South Africa
  - North Africa
  - Central Africa

9. Competitive Landscape

Gerber Life
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Foresters Financial
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Allianz Life
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
AIG
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
American National
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Assurity Life Insurance Company
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Transamerica
Americo Financial Life and Annuity Insurance Company
Baltimore Life
AAA Life Insurance Company
State Farm
Sagicor Life Insurance Company
Mutual of Omaha
United Home Life Insurance Company
New York Life Insurance Company

10. Analyst Recommendations

Wheel of Fortune
Analyst View
Coherent Opportunity Map

11. References and Research Methodology

References
Research Methodology
About us