The ‘Global Final Expense Insurance Market Share, Size, Price, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global final expense insurance market, assessing the market on the basis of its segments like type, age group, application, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Final Expense Insurance Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): USD 175.62 Billion
- Forecast CAGR (2023-2028): 7.20%
- Forecast Market Size (2028): USD 265.36 Billion
The global final expense insurance market is being driven by rising death rates worldwide and increasing costs of funeral arrangements. As more people become aware of the various end-of-life expenses and the availability of final expense insurance, they are investing in this type of insurance to prevent burden on remaining family members. Particularly in regions with expensive funeral processes and among users with limited financial means, final expense insurance can be a beneficial way to manage costs such as funerals and memorials.
Get a Free Sample Report with Table of Contents@ https://www.expertmarketresearch.com/reports/final-expense-insurance-market/requestsample
With advancements in healthcare, life expectancy has increased and there is greater accuracy in predicting lifespans of patients undergoing treatment for chronic and fatal health conditions. Accordingly, patients have more time available to plan for end-of-life expenses and estimate approximate costs. In countries with private healthcare systems and expensive medical treatment, final expense insurance can also be used to pay off any pending medical bills.
Rising demand for non-permanent final expense insurance is also contributing to the final expense insurance market growth. Non-permanent final expense insurance offers greater flexibility over the policy and coverage length and is available at relatively lower costing premiums. Depending upon requirement, non-permanent final expense insurance can be converted to permanent final expense insurance, giving users greater control.
Final Expense Insurance Industry Definition and Major Segments
Final expense insurance refers to a form of life insurance that provides coverage to meet end-of-life expenses such as funerals, cremations, burials, and memorial services. The insurance can also be used to pay for any legal or medical expenses remaining after death. Final expense insurance is also described as funeral insurance, burial insurance, modified life insurance, or simplified issue whole life insurance.
Read Full Report with Table of Contents@ https://www.expertmarketresearch.com/reports/final-expense-insurance-market
Based on type, the market is bifurcated into:
- Permanent
- Non-Permanent
On the basis of age group, the market is divided into:
- Less than 3 Years
- 4-17 Years
- 18-35 Years
- 35 Years and Above
By application, the market is segmented into:
- Agency
- Brokers
- Bancassurance
- Digital and Direct Channels
Based on region, the market is categorised into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Final Expense Insurance Market Trends
The relative ease of obtaining a final expense insurance policy is a key trend aiding the final expense insurance market development. In comparison to traditional life insurance policies, final expense policies are typically available without any need for medical examinations or healthcare information and can be issued at later ages with ease.
Sales of final expense insurance through digital and direct channels are on the rise as more people become aware of the various types of final expense insurance. Through digital and direct channels, potential buyers can compare different policy options and assess their requirements before purchasing final expense insurance. Increasing promotions of different types of insurance policies and insurance policy customisation are assessed to be crucial trends in the final expense insurance market in the coming years.
By region, North America accounts for a significant share of the global market for final expense insurance, fuelled by the expensive funeral costs in countries such as the United States and increasing availability of various types of insurance. The growing population of geriatrics and expensive medical costs are also encouraging more patients to invest in final expense insurance. Presence of various key players in North America is also aiding the growth of the regional final expense insurance market.
Key Market Players
The major players in the global final expense insurance market report are:
- Chubb Corporation
- Prudential Financial, Inc.
- Allianz SE
- MetLife, Inc
- Zurich Insurance Group
- Globe Life and Accident Insurance Company
- Liberty Mutual Insurance Company
- Aviva plc
- Allstate Insurance Company
- Others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
About Us:
Expert Market Research (EMR) is leading market research company with clients across the globe. Through comprehensive data collection and skilful analysis and interpretation of data, the company offers its clients extensive, latest, and actionable market intelligence which enables them to make informed and intelligent decisions and strengthen their position in the market. The clientele ranges from Fortune 1000 companies to small and medium scale enterprises.
EMR customises syndicated reports according to clients’ requirements and expectations. The company is active across over 15 prominent industry domains, including food and beverages, chemicals and materials, technology and media, consumer goods, packaging, agriculture, and pharmaceuticals, among others.
Over 3000 EMR consultants and more than 100 analysts work very hard to ensure that clients get only the most updated, relevant, accurate and actionable industry intelligence so that they may formulate informed, effective, and intelligent business strategies and ensure their leadership in the market.
Media Contact:
Company Name: Claight Corporation
Contact Person: George buttler, Corporate Sales Specialist – U.S.A.
Email: sales@expertmarketresearch.com
Toll Free Number: +1-415-325-5166 | +44-702-402-5790
Address: 30 North Gloud Street, Sheridan, WY 82801, USA
Website: https://www.expertmarketresearch.com
