Burial Insurance Market Poised to Hit $393.23 Billion by 2029 with Accelerating Growth Trends

Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.

Burial Insurance Market Size Growth Forecast: What to Expect by 2025?
In recent times, the burial insurance market has seen a significant rise in its size. The market is projected to increase from $263.63 billion in 2024 to a more impressive $286.31 billion in 2025, exhibiting a Compound Annual Growth Rate (CAGR) of 8.6%. Several factors contributed to this growth in the historical period, including the surge in the population, governmental efforts, the trend towards more personalized funeral arrangements, heightened consciousness about funeral costs, and an escalation in the need for burial insurance plans.

How Will the Burial Insurance Market Size Evolve and Grow by 2029?
In the forthcoming years, the size of the burial insurance market is predicted to experience significant growth, potentially reaching $393.23 billion by 2029, with an annual growth rate (CAGR) of 8.3%. The forecasted rise can be credited to factors such as increased internet usage, a growth in the elderly population, a surge in the number of nuclear families, intensifying market competitions and subsequent collaborations, and a rise in disposable income. The forecast period is also expected to see trending developments in insurance products, the addition of value-added services, the implementation of artificial intelligence (AI) and machine learning in underwriting procedures, digital platform innovation, and tech advancements.

View the full report here:
https://www.thebusinessresearchcompany.com/report/burial-insurance-global-market-report

What Drivers Are Propelling the Growth of Burial Insurance Market Forward?
Progression in the burial insurance market is anticipated due to the growing expenses associated with funerals. Various factors contribute to the mounting cost of funerals, including service fees, coffins, urns, and transportation, alongside the rising prices of goods, services, and facilities, regulatory costs, inflation, and an increasing demand for unique or more sophisticated arrangements. Designed to cater to individual preferences, burial insurance policies assure that financial means are available to fulfil specific funeral desires and obligations. For instance, a study by Sunlife, a financial services firm based in the UK, indicated that between 2022 and 2023, funeral costs in the UK escalated from $10,120 to $10,623. As such, the escalating expenses tied to funerals fuel the demand in the burial insurance market.

Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=18273&type=smp

Which Emerging Trends Are Transforming the Burial Insurance Market in 2025?
Leading businesses in the burial insurance industry are shifting their attention towards the creation of funeral cash plans, designed to offer swift financial aid for funeral costs. These plans supply a one-time payment to cater to funeral costs, thus offering financial ease to benefactors. For instance, Diaspora Insurance, a risk management and insurance firm located in the UK, launched an inventive group funeral insurance in March 2024. This affordable, broad plan is specifically aimed at diaspora communities and includes services such as life, health, and group funeral insurance, custom-made to suit the distinct requirements of these groups. Providing timely payouts, adjustable premiums, and a simplified claims procedure, the insurance delivers crucial financial assistance for funeral costs when required the most.

What Are the Key Segments in the Burial Insurance Market?
The burial insurance market covered in this report is segmented -

1) By Type: Simplified Issue, Guaranteed Issue, Pre-Need Insurance
2) By Age Of End-User: Over 50, Over 60, Over 70, Over 80
3) By Target Demographic: Seniors, Low-Income Individuals, Middle-Income Individuals
4) By Distribution Channel: Insurance Agents, Direct Sales, Online Channels

Subsegments:
1) By Simplified Issue: implified Issue Whole Life Insurance, Simplified Issue Term Life Insurance, Simplified Issue Burial Plans
2) By Guaranteed Issue: By Guaranteed Issue Whole Life Insurance, Guaranteed Issue Final Expense Insurance
3) By Pre-Need Insurance: By Pre-Need Burial Insurance Plans, Pre-Need Funeral Insurance

Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=18273&type=smp

Who Are the Key Players Shaping the Burial Insurance Market's Competitive Landscape?
Major companies operating in the burial insurance market are Cigna Group, Zurich Insurance Group Ltd., Prudential Financial Inc., Aviva PLC, New York Life Insurance Co., Hannover Ruck SE, The Massachusetts Mutual Life Insurance Company, Sun Life Financial Inc., The Hartford Financial Services Group Inc., Manulife Financial Corporation, Assurant Inc., Allianz SE, Globe Life Inc., Legal & General Group, Sentinel Security Life Insurance Company, Colonial Penn Life Insurance Company, The Baltimore Life Insurance Company, Dignity Memorial, Choice Mutual, Fidelity Life Assurance Company Limited, Titan Casket, Sagicor Life Insurance Company

What Geographic Markets Are Powering Growth in the Burial Insurance Market?
North America was the largest region in the burial insurance market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the burial insurance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Purchase the full report today:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=18273

This Report Supports:
1.Business Leaders & Investors - To identify growth opportunities, assess risks, and guide strategic decisions.
2.Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning.
3.Policy Makers & Regulators - To track industry developments and align regulatory frameworks.
4.Consultants & Analysts - To support market entry, expansion strategies, and client advisory work.

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 7882 955267,
Asia: +91 88972 63534,
Americas: +1 310-496-7795 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.