Burial Insurance Market worth $247.77 billion by 2030, growing at a CAGR of 8.26% - Exclusive Report by 360iResearch

The "Burial Insurance Market by Coverage Type (Guaranteed Acceptance, Level Death Benefit, Modified or Graded Death Benefit), Providers (Agency, Bancassurance, Brokers), End-user Age - Global Forecast 2024-2030" report has been added to 360iResearch.com's offering.

The Global Burial Insurance Market to grow from USD 142.10 billion in 2023 to USD 247.77 billion by 2030, at a CAGR of 8.26%.

Request a Free Sample Report @ https://www.360iresearch.com/library/intelligence/burial-insurance?utm_source=openpr&utm_medium=referral&utm_campaign=sample

Burial insurance, also known as final expense insurance is a type of life insurance policy that covers the costs associated with end-of-life expenses, predominantly funeral arrangements, and burial expenses. Unlike traditional life insurance, which provides a broad range of financial protection to the beneficiaries, burial insurance offers a smaller benefit amount aimed specifically at ensuring that funeral costs do not become a financial burden on families. Premiums for burial insurance tend to be affordable, and the policies are tailored for ease of qualification, often with no required medical examination. An aging population increases the demand for burial insurance, coupled with rising funeral costs, making pre-planning more attractive. Also, the growing awareness of the financial burden associated with funerals is pushing more individuals to secure burial insurance policies, expanding the scope of the burial insurance market. However, the perception of burial insurance as an unnecessary expense among the population acts as a restraining factor for the market. Despite the restraining factors, technology adoption presents an opportunity to streamline processes and enhance customer experience. Lastly, partnerships with funeral service providers could create a more integrated approach to end-of-life planning, tapping into new customer segments.

The burial insurance market in the Americas, especially in North America, shows a robust performance attributed to the aging population and a strong awareness of life insurance products. In the United States and Canada, the market is characterized by a competitive landscape with a variety of products tailored to different consumer segments. Moreover, the increased prevalence of online distribution channels has made it easier for consumers to purchase burial insurance policies. The performance of the burial insurance market in the EMEA region is diverse. In Europe, the market is relatively mature, with a high penetration rate of life insurance products. The Middle East shows potential for market expansion, driven by economic growth and an increasing awareness of the benefits of insurance. In contrast, the African market is still nascent, with low insurance penetration rates, but presents long-term growth opportunities as economies develop and awareness increases. The APAC region demonstrates a dynamic and rapidly growing burial insurance market, with burgeoning middle-class populations, economic development, and improving financial literacy. Additionally, cultural attitudes towards death and the strong tradition of providing for one's family after passing suggest a growing acceptance and need for burial insurance. Regulatory developments and the integration of technology in the insurance industry, such as mobile platforms and fintech, further enhance market accessibility and growth in the APAC region.

Market Segmentation & Coverage:

This research report categorizes the Burial Insurance Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Coverage Type, market is studied across Guaranteed Acceptance, Level Death Benefit, and Modified or Graded Death Benefit. The Guaranteed Acceptance commanded largest market share of 57.61% in 2023, followed by Modified or Graded Death Benefit.

Based on Providers, market is studied across Agency, Bancassurance, Brokers, and Digital & Direct Channels. The Agency commanded largest market share of 33.01% in 2023, followed by Brokers.

Based on End-user Age, market is studied across Below 50, Over 50, Over 60, Over 70, and Over 80. The Below 50 commanded largest market share of 31.08% in 2023, followed by Over 60.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 49.28% in 2023, followed by Americas.

Inquire Before Buying @ https://www.360iresearch.com/library/intelligence/burial-insurance?utm_source=openpr&utm_medium=referral&utm_campaign=inquire

FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Burial Insurance Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in the Burial Insurance Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

Key Company Profiles:

The report delves into recent significant developments in the Burial Insurance Market, highlighting leading vendors and their innovative profiles. These include African Unity Life Ltd., Allianz Group, Assurity Benefits Group, Bsure Insurance Brokers Bloomfield SL, Caser Expatinsurance, CVS Health, Ethos Technologies Inc., Fidelity Life Association, Genlife, Gerber Life Insurance Company, Globe Life Inc., Metlife, Inc., Mutual of Omaha Insurance Company, New York Life Insurance Company, Policygenius Inc. by Zinnia, LLC, Protective Life Insurance Company, Prudential PLC, Sagicor Financial Corporation Limited, Sanlam Limited, State Farm Mutual Automobile Insurance Company, The Baltimore Life Insurance Company, The Savings Bank Mutual Life Insurance Company, Transamerica Corporation, TruStage Insurance, United Home Life Insurance Company, and Zurich Insurance Group.

Key Topics Covered:

1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Burial Insurance Market, by Coverage Type
7. Burial Insurance Market, by Providers
8. Burial Insurance Market, by End-user Age
9. Americas Burial Insurance Market
10. Asia-Pacific Burial Insurance Market
11. Europe, Middle East & Africa Burial Insurance Market
12. Competitive Landscape
13. Competitive Portfolio

The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:
1. What is the market size and forecast of the Burial Insurance Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Burial Insurance Market?
3. What is the competitive strategic window for opportunities in the Burial Insurance Market?
4. What are the technology trends and regulatory frameworks in the Burial Insurance Market?
5. What is the market share of the leading vendors in the Burial Insurance Market?
6. What modes and strategic moves are considered suitable for entering the Burial Insurance Market?

Read More @ https://www.360iresearch.com/library/intelligence/burial-insurance?utm_source=openpr&utm_medium=referral&utm_campaign=analyst

Contact 360iResearch

Mr. Ketan Rohom
Sales & Marketing,
Office No. 519, Nyati Empress,
Opposite Phoenix Market City,
Vimannagar, Pune, Maharashtra,
India - 411014.
sales@360iresearch.com
+1-530-264-8485
+91-922-607-7550

About 360iResearch

360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.

We are a dynamic, nimble company that believes in carving ambitious, purposeful goals and achieving them with the backing of our greatest asset - our people.

Quick on our feet, we have our ear to the ground when it comes to market intelligence and volatility. Our market intelligence is diligent, real-time and tailored to your needs, and arms you with all the insight that empowers strategic decision-making.

Our clientele encompasses about 80% of the Fortune Global 500, and leading consulting and research companies and academic institutions that rely on our expertise in compiling data in niche markets. Our meta-insights are intelligent, impactful and infinite, and translate into actionable data that support your quest for enhanced profitability, tapping into niche markets, and exploring new revenue opportunities.

This release was published on openPR.