Burial Insurance - Global Strategic Business Report

The global market for Burial Insurance was estimated at US$317.2 Billion in 2024 and is projected to reach US$434.9 Billion by 2030, growing at a CAGR of 5.4% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. The report includes the most recent global tariff developments and how they impact the Burial Insurance market.

Global Burial Insurance Market - Key Trends & Drivers Summarized

Why Is Burial Insurance Gaining Popularity?

Burial insurance, also known as final expense insurance, is becoming an essential financial tool for individuals and families seeking to cover end-of-life expenses without placing a financial burden on their loved ones. With rising funeral costs and increasing awareness about financial planning, more people are investing in burial insurance policies as a means of ensuring a dignified farewell. The aging global population, particularly in regions with higher life expectancy, is driving demand for these insurance plans. Additionally, burial insurance is appealing to individuals who may not qualify for traditional life insurance due to age or health conditions. The simplicity of policy issuance, often requiring no medical exams and minimal paperwork, is further fueling market growth. As financial literacy improves worldwide, burial insurance is being recognized as an essential component of estate planning and personal financial security.

How Are Technological Innovations Transforming Burial Insurance Services?

The digitalization of the insurance industry is significantly improving access to and management of burial insurance policies. Online policy comparison tools, AI-powered underwriting, and blockchain-based contracts are streamlining the customer experience. Insurtech companies are leveraging artificial intelligence to provide instant policy approvals, while automated claims processing ensures faster payouts to beneficiaries. Mobile apps and digital platforms now allow policyholders to manage their plans, update beneficiaries, and pay premiums with ease. Additionally, predictive analytics and big data are being used to personalize burial insurance offerings, tailoring policies to individual financial needs and health conditions. As insurance companies embrace digital transformation, burial insurance is becoming more accessible and efficient, catering to a broader range of consumers globally.

Which Consumer Segments Are Driving the Adoption of Burial Insurance?

The primary consumers of burial insurance policies include senior citizens, low-to-middle-income families, and individuals with pre-existing health conditions. Senior citizens, particularly those without substantial life insurance coverage, are opting for burial insurance as a way to ensure that funeral expenses are covered. Low-to-middle-income families are increasingly purchasing these policies as an affordable alternative to traditional life insurance, providing financial security in times of bereavement. The market is also witnessing growing interest from younger demographics, who are recognizing the long-term benefits of early financial planning. Additionally, funeral service providers and financial advisors are playing a crucial role in promoting burial insurance by educating clients on the costs associated with end-of-life arrangements. As awareness grows, burial insurance is becoming a preferred option for securing final expenses across various demographic segments.

What Factors Are Fueling Market Growth?

The growth in the burial insurance market is driven by several factors, including the rising costs of funeral services, increasing financial awareness, and advancements in digital insurance platforms. The growing senior population is expanding the customer base for burial insurance providers, while the ease of policy issuance is attracting individuals with health concerns. The proliferation of online insurance platforms is enhancing policy accessibility, allowing consumers to compare plans and make informed decisions. Additionally, government regulations promoting financial inclusion and consumer protection in the insurance sector are fostering market stability. The emergence of subscription-based funeral insurance plans and bundled insurance products is further diversifying offerings in the industry. As financial planning becomes a global priority, burial insurance is expected to witness steady growth, ensuring peace of mind for policyholders and their families.

Scope of Study:

The report analyzes the Burial Insurance market in terms of units by the following Segments, and Geographic Regions/Countries:

• Segments: Coverage (Modified/Graded Death Benefit, Level Death Benefit, Guaranteed Acceptance); End-Use (Over 50 Years End-Use, Over 60 Years End-Use, Over 70 Years End-Use, Over 80 Years End-Use)
• Geographic Regions/Countries: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.

Key Insights:

• Market Growth: Understand the significant growth trajectory of the Modified / Graded Death Benefit segment, which is expected to reach US$207.0 Billion by 2030 with a CAGR of a 6.3%. The Level Death Benefit segment is also set to grow at 5.2% CAGR over the analysis period.
• Regional Analysis: Gain insights into the U.S. market, estimated at $83.4 Billion in 2024, and China, forecasted to grow at an impressive 5.2% CAGR to reach $69.5 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Why You Should Buy This Report:

• Detailed Market Analysis: Access a thorough analysis of the Global Burial Insurance Market, covering all major geographic regions and market segments.
• Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
• Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Burial Insurance Market.
• Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

• How is the Global Burial Insurance Market expected to evolve by 2030?
• What are the main drivers and restraints affecting the market?
• Which market segments will grow the most over the forecast period?
• How will market shares for different regions and segments change by 2030?
• Who are the leading players in the market, and what are their prospects?

Report Features:

• Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
• In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
• Company Profiles: Coverage of players such as Americo Financial Life and Annuity Insurance Company (Americo), Assurity Life Insurance Company, Colonial Penn Life Insurance Company, Fidelity Life Association, Gerber Life Insurance Company and more.
• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Some of the 42 companies featured in this Burial Insurance market report include:

• Americo Financial Life and Annuity Insurance Company (Americo)
• Assurity Life Insurance Company
• Colonial Penn Life Insurance Company
• Fidelity Life Association
• Gerber Life Insurance Company
• Globe Life Inc.
• Lemonade Insurance Agency, LLC
• Luminary Life
• Mutual of Omaha Insurance Company
• New York Life Insurance Company
• State Farm Insurance
• The Baltimore Life Insurance Company
• Transamerica Corporation
• United Home Life Insurance Company

This edition integrates the latest global trade and economic shifts as of June 2025 into comprehensive market analysis. Key updates include:

• Tariff and Trade Impact: Insights into global tariff negotiations across 180+ countries, with analysis of supply chain turbulence, sourcing disruptions, and geographic realignment. Special focus on 2025 as a pivotal year for trade tensions, including updated perspectives on the Trump-era tariffs.
• Adjusted Forecasts and Analytics: Revised global and regional market forecasts through 2030, incorporating tariff effects, economic uncertainty, and structural changes in globalization. Includes segmentation by product, technology, type, material, distribution channel, application, and end-use, with historical analysis since 2015.
• Strategic Market Dynamics: Evaluation of revised market prospects, regional outlooks, and key economic indicators such as population and urbanization trends.
• Innovation & Technology Trends: Latest developments in product and process innovation, emerging technologies, and key industry drivers shaping the competitive landscape.
• Competitive Intelligence: Updated global market share estimates for 2025, competitive positioning of major players (Strong/Active/Niche/Trivial), and refined focus on leading global brands and core players.
• Expert Insight & Commentary: Strategic analysis from economists, trade experts, and domain specialists to contextualize market shifts and identify emerging opportunities.
• Complimentary Update: Buyers receive a free July 2025 update with finalized tariff impacts, new trade agreement effects, revised projections, and expanded country-level coverage.