Global Final Expense Insurance Market Growth (Status and Outlook) 2025-2031

The global Final Expense Insurance market size is predicted to grow from US$ 203160 million in 2025 to US$ 228400 million in 2031; it is expected to grow at a CAGR of 2.0% from 2025 to 2031.

Final expense insurance is a life insurance policy that has a smaller amount of death benefit comparing with normal life insurance. Also, it is easier to get approved. Final expense insurance is also called funeral insurance or burial insurance. The death benefit is usually between $2,000 to $50,000.

Global Final Expense Insurance key players include Allianz, AXAm, Generali, Ping An Insurance, China Life Insurance, etc. Global top five players hold a share about 26%. North America is the largest market, with a share about 36%, followed by Europe and APAC, both have a share over 54 percent. In terms of product, Permanent is the largest segment, with a share over 71%. And in terms of application, the largest application is Permanent, followed by Non-Permanent, etc.

Final Expense Insurance Market Drivers

Aging Population: The increasing elderly population, particularly in developed regions like North America and Europe, is a primary driver. As people age, the need for financial planning to cover end-of-life expenses, such as funeral costs and medical bills, becomes more pressing, boosting demand for final expense insurance.

Rising Funeral Costs: The cost of funerals and related services has been steadily rising, making it difficult for many families to afford these expenses out-of-pocket. Final expense insurance provides a financial safety net, ensuring that these costs are covered without burdening loved ones.

Increased Awareness: Growing awareness about the importance of end-of-life financial planning is driving market growth. Educational campaigns by insurers and financial advisors are helping consumers understand the benefits of final expense insurance, leading to higher adoption rates.

LPI (LP Information)' newest research report, the “Final Expense Insurance Industry Forecast” looks at past sales and reviews total world Final Expense Insurance sales in 2024, providing a comprehensive analysis by region and market sector of projected Final Expense Insurance sales for 2025 through 2031. With Final Expense Insurance sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Final Expense Insurance industry.

This Insight Report provides a comprehensive analysis of the global Final Expense Insurance landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyses the strategies of leading global companies with a focus on Final Expense Insurance portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Final Expense Insurance market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Final Expense Insurance and breaks down the forecast by Type, by Age Bracket, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Final Expense Insurance.

This report presents a comprehensive overview, market shares, and growth opportunities of Final Expense Insurance market by product type, application, key players and key regions and countries.

Segmentation by Type:
Permanent
Non-Permanent

Segmentation by Age Bracket:
From 50 to 65 Years Old
From 65 to 75 Years Old
Above and Equal to 75 Years Old

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Allianz
AXA
Generali
Ping An Insurance
China Life Insurance
Prudential PLC
Lincoln National Corporation
Zurich Insurance
Nippon Life Insurance
Japan Post Holdings
Bandhan Life
Metlife
Manulife Financial
CPIC
Chubb
AIG
Aviva
Allstate
LIC
Prudential Financial
UnitedHealthcare
AIA
Aflac
Legal & General

Please note: The report will take approximately 2 business days to prepare and deliver.