Burial Insurance Market, By Insurance Coverage (Level Death Benefit, Guaranteed Acceptance, and Modified or Graded Death Benefit), By Premium Payment Type (Monthly, Quarterly, and Annually), By Customer Age Group (Over 50, Over 60, Over 70, and Over 80),

Burial Insurance Market, By Insurance Coverage (Level Death Benefit, Guaranteed Acceptance, and Modified or Graded Death Benefit), By Premium Payment Type (Monthly, Quarterly, and Annually), By Customer Age Group (Over 50, Over 60, Over 70, and Over 80), By Distribution Channel (Direct Sales, Insurance Brokers, and Online Platforms), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)

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