[Latest] Global Final Expense Insurance Market Size/Share Worth USD 10.60 Billion by 2034 at a 4.62% CAGR: Custom Market Insights (Analysis, Outlook, Leaders, Report, Trends, Forecast, Segmentation, Growth, Growth Rate, Value, SWOT)

[220+ Pages Latest Report] According to a market research study published by Custom Market Insights, the demand analysis of Global Final Expense Insurance Market size & share revenue was valued at approximately USD 6.75 Billion in 2024 and is expected to reach USD 7.06 Billion in 2025 and is expected to reach around USD 10.60 Billion by 2034, at a CAGR of 4.62% between 2025 and 2034. The key market players listed in the report with their sales, revenues and strategies are Americo, Assurity, Bankers Life, Foresters Financial, Gerber Life, Globe Life, Hartford, Lincoln Heritage, Modern Woodmen, Mutual of Omaha, Old American, Principal Financial Group, Transamerica, United Home Life, Woodmen Life, and others.

/EIN News/ -- Austin, TX, USA, May 28, 2025 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled “Final Expense Insurance Market Size, Trends and Insights By Policy Type (Guaranteed Issue Whole Life Insurance, Simplified Issue Whole Life Insurance, Traditional Whole Life Insurance), By Target Audience (Seniors (age 50 and above), Individuals with Pre-Existing Conditions, Low-Income Individuals), By Coverage Amount (Up to $25,000, $25,000 to $50,000, Over $50,000), By Premium Payment Frequency (Monthly, Quarterly, Annually), By Distribution Channel (Independent Agents, Captive Agents, Online Marketplaces), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2025–2034” in its research database.

“According to the latest research study, the demand of global Final Expense Insurance Market size & share was valued at approximately USD 6.75 Billion in 2024 and is expected to reach USD 7.06 Billion in 2025 and is expected to reach a value of around USD 10.60 Billion by 2034, at a compound annual growth rate (CAGR) of about 4.62% during the forecast period 2025 to 2034.”

Click Here to Access a Free Sample Report of the Global Final Expense Insurance Market @ https://www.custommarketinsights.com/request-for-free-sample/?reportid=69997

Final Expense Insurance Market Overview

According to industry experts at CMI, the implementation of new strategies and technologies by insurance providers presents lucrative opportunities for players in the Final Expense Insurance Market during the forecast period.

Final Expense Insurance Market Growth Factors and Dynamics

• Aging Global Population: As health is improving which is seeing a rise in life expectancy worldwide, there has been a large-scale growth in the senior population which is 60 and above. This demographic movement is putting pressure for the development of financial planning tools that are specific to seniors which include final expense insurance. Senior citizens are looking for affordable and easy to access solutions that will cover funerary costs and also which do not put burden on their families. Insurers are in turn putting out targeted marketing and also simplifying underwriting processes to better serve this growing section. The trend of an aging population is expected to be a stable and very long-term customer base for final expense products which in turn is what is making insurers develop age friendly services which in total is to report sustained market growth in both established and emerging markets.

• Rise of Simplified and Guaranteed Issue Policies: The consumers are tending to go for insurance that does not require medical checks or in-depth questionnaires. That is what simplified and guaranteed issue policies do they remove underwriting barriers which in turn mainly benefits seniors and persons with pre-existing health issues. These products also include features of guaranteed acceptance and stable premiums. The application process’ ease and the feature of immediate coverage are very attractive to people who need it right away and as a result is increasing insurance access. As awareness of these options grows and companies continue to clean up their processes, these policy types are at the forefront of growth in the market, reaching out to the health conscious and age groups that had little to no life insurance choices.

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• Digital Transformation and Online Distribution: Digital platforms along with insurtech players are redefining how final expense insurance is marketed, sold, and managed out to the public. Online quote comparison tools, e-apps, electronic applications that replace paper forms, and automated underwriting are introduced, which in turn remove friction in the purchase journey and are very much to the tech savvy consumer’s taste. Also, more older adults get on board with digital solutions, which has been furthered post pandemic. This change is what is allowing insurers to access larger audiences and present more tailored products. The ease of digital channels also plays a role in lowering the costs related to what is called customer acquisition for these insurers, and at the same time it ameliorates customer relationships, thus creating the role of tech as a key growth driver for the growth of the market.

• Increasing Funeral and End-of-Life Costs: Funeral and interment costs have been on the rise which in turn puts a financial strain on many families. As the prices go up so does consumer interest in final expense insurance, which in turn covers those predictable expenses. Consumers want peace of mind that their loved ones will not have to deal with unexpected expenses. Insurers are playing into this issue by the design of policies that address the average costs of funerals and also in the way they put forth their coverage which is very emotional in nature. This trend which also plays on the issue of unexpected expenses is expected to be relevant for final expense products and at the same time is very much a factor in the consistent demand for them especially among middle- and lower-income groups.

• Growing Financial Awareness and Planning Culture: People today are taking a more active role in financial planning which includes end of life preparation. This is a result of greater access to financial education, media reportage, and retirement planning tools. Final expense insurance is an element of this trend which has a low cost solution for responsible legacy planning. As consumers focus on protecting what is theirs and their family’s future from financial stress they are increasing their choice of these policies as part of a whole financial strategy. Insurers are in turn providing educational resources and are putting together bundles that include final expense products with other services thus their position in total life planning.

• Expansion in Underserved and Emerging Markets: Insurance penetration is still low in many emerging markets which are seeing growth in income, urbanization, and adoption of fintech. In this environment final expense insurance is a good fit for these regions which present affordability, simplicity, and relevance to cultural practices surrounding death and burial. Insurers are forming local relationships, using mobile distribution, and customizing products to fit regional preferences. As trust in insurance increases and regulatory structures improve it is expected there will be more consumers in Latin America, Africa and Southeast Asia adopting final expense products which in turn is causing geographic diversity and long-term market growth.

Report Scope

Feature of the Report	Details
Market Size in 2025	USD 7.06 Billion
Projected Market Size in 2034	USD 10.60 Billion
Market Size in 2024	USD 6.75 Billion
CAGR Growth Rate	4.62% CAGR
Base Year	2024
Forecast Period	2025-2034
Key Segment	By Policy Type, Target Audience, Coverage Amount, Premium Payment Frequency, Distribution Channel and Region
Report Coverage	Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope	North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options	Request tailored purchasing options to fulfil your requirements for research.

(A free sample of the Final Expense Insurance report is available upon request; please contact us for more information.)

Our Free Sample Report Consists of the following:

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• Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2025
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• Custom Market Insights (CMI) research methodology

(Please note that the sample of the Final Expense Insurance report has been modified to include the COVID-19 impact study prior to delivery.)

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Final Expense Insurance Market SWOT Analysis

• Strengths: Many individuals do not have sufficient savings or other life insurance coverage to handle these costs, making final expense insurance a valuable financial tool for a specific segment of the population. Another significant strength is the simplified underwriting process, which typically involves no or minimal medical exams. Final expense insurance policies typically feature fixed premiums, which remain constant throughout the life of the policy.

• Weakness: The lower payout amounts compared to other life insurance policies. While sufficient for basic funeral costs, the limited coverage might not be adequate to cover substantial medical bills or other outstanding debts. Another potential drawback is the presence of waiting periods in some policies, particularly guaranteed issue policies.

• Opportunities: The continuously expanding aging population represents a substantial and growing target market. As more individuals enter their senior years, the need for end-of-life planning and financial security for their loved ones will only increase. There is also a growing awareness among the general population about the importance of end-of-life financial planning.

• Threats: The competition from other insurance products, such as term life, whole life, and universal life insurance. Consumers seeking life insurance coverage might opt for these alternatives, which often offer broader coverage options and may be perceived as providing better value, especially for those who qualify for traditional underwriting. Limited awareness and misconceptions about final expense insurance can also hinder market growth.

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Key questions answered in this report:

• What is the size of the Final Expense Insurance market and what is its expected growth rate?
• What are the primary driving factors that push the Final Expense Insurance market forward?
• What are the Final Expense Insurance Industry's top companies?
• What are the different categories that the Final Expense Insurance Market caters to?
• What will be the fastest-growing segment or region?
• In the value chain, what role do essential players play?
• What is the procedure for getting a free copy of the Final Expense Insurance market sample report and company profiles?

Key Offerings:

• Market Share, Size & Forecast by Revenue | 2025−2034
• Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
• Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Final Expense Insurance Market Regional Analysis

The Final Expense Insurance Market is segmented into various regions, including North America, Europe, Asia-Pacific, and LAMEA. Here is a brief overview of each region:

• North America: North America is home to the most mature and structured market for final expense insurance which we attribute to high insurance penetration and large aging population. We see great awareness around end of life financial planning which in turn leads to many consumers that are proactive in their search for affordable options which ease the burden on their families. Also, there are advanced distribution systems in play which include independent agents, captive agents and digital platforms. The U.S. is the preeminent market for final expense insurance which we put down to our large senior population and increasing funeral expenses. Also, in the U.S. we see high awareness around death related costs and that many consumers are looking for easy access, fixed premium policies to protect their families’ finances.

• Europe: The European market for final expense insurance is growing which we attribute to an aging population and increasing interest in personal financial planning. Some countries do still look to state provided death benefits or pension systems which they are familiar with, but we are see an increase in the private insurance solutions which cover funerl and end of life care. In the UK, Germany and France we are seeing more awareness campaigns and product introductions that are targeted at the retiree.

• Asia-Pacific: In the Asia-Pacific we see an emerging market for final expense insurance which is seeing very dynamic demographics play out, increasing life expectancies, and a growing middle class. As traditional family units change and urbanization increases more people are turning to financial products which in turn will ease the burden on their loved ones. While insurance awareness is still in its early stages in some markets, in countries like Japan, South Korea and Australia we are seeing growth in end of life planning products.

• LAMEA: The in the LAMEA region we see a mixed picture for final expense insurance which includes low overall penetration of insurance but at the same time we see growth in the interest of affordable and need based products. In Latin America we are seeing funerary costs go up and also an increase in financial literacy which in turn is getting more families to look into final expense coverage. In the Middle East and Africa we see slower adoption which is a result of cultural, religious, and economic issues, that said we are seeing urbanization and growth of the fintech sector which is in fact presenting new opportunities.

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Browse the full “Final Expense Insurance Market Size, Trends and Insights By Policy Type (Guaranteed Issue Whole Life Insurance, Simplified Issue Whole Life Insurance, Traditional Whole Life Insurance), By Target Audience (Seniors (age 50 and above), Individuals with Pre-Existing Conditions, Low-Income Individuals), By Coverage Amount (Up to $25,000, $25,000 to $50,000, Over $50,000), By Premium Payment Frequency (Monthly, Quarterly, Annually), By Distribution Channel (Independent Agents, Captive Agents, Online Marketplaces), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2025–2034” Report at https://www.custommarketinsights.com/report/final-expense-insurance-market/

List of the prominent players in the Final Expense Insurance Market:

• Air Products and Chemicals Inc.
• Aker Solutions
• BP plc
• Chevron Corporation
• Equinor ASA
• ExxonMobil Corporation
• Mitsubishi Heavy Industries Ltd.
• Royal Dutch Shell plc
• Schlumberger Limited
• TotalEnergies SE
• Fluor Corporation
• Linde Plc
• JGC Holdings
• Honeywell International
• Halliburton Company
• Others

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The Final Expense Insurance Market is segmented as follows:

By Policy Type

• Guaranteed Issue Whole Life Insurance
• Simplified Issue Whole Life Insurance
• Traditional Whole Life Insurance

By Target Audience

• Seniors (age 50 and above)
• Individuals with Pre-Existing Conditions
• Low-Income Individuals

By Coverage Amount

• Up to $25,000
• $25,000 to $50,000
• Over $50,000

By Premium Payment Frequency

• Monthly
• Quarterly
• Annually

By Distribution Channel

• Independent Agents
• Captive Agents
• Online Marketplaces

Click Here to Get a Free Sample Report of the Global Final Expense Insurance Market @ https://www.custommarketinsights.com/report/final-expense-insurance-market/

Regional Coverage:

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Russia
• Italy
• Spain
• Netherlands
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Taiwan
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America

This Final Expense Insurance Market Research/Analysis Report Contains Answers to the following Questions.

• Which Trends Are Causing These Developments?
• Who Are the Global Key Players in This Final Expense Insurance Market? What are Their Company Profile, Product Information, and Contact Information?
• What Was the Global Market Status of the Final Expense Insurance Market? What Was the Capacity, Production Value, Cost and PROFIT of the Final Expense Insurance Market?
• What Is the Current Market Status of the Final Expense Insurance Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of Final Expense Insurance Market by Considering Applications and Types?
• What Are Projections of the Global Final Expense Insurance Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
• What Is Final Expense Insurance Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
• What Is the Economic Impact On Final Expense Insurance Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
• What Are Market Dynamics of Final Expense Insurance Market? What Are Challenges and Opportunities?
• What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Final Expense Insurance Industry?

Click Here to Access a Free Sample Report of the Global Final Expense Insurance Market @  https://www.custommarketinsights.com/report/final-expense-insurance-market/

Reasons to Purchase Final Expense Insurance Market Report

• Final Expense Insurance Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
• Final Expense Insurance Market report outlines market value (USD) data for each segment and sub-segment.
• This report indicates the region and segment expected to witness the fastest growth and dominate the market.
• Final Expense Insurance Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
• The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
• Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
• The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
• Final Expense Insurance Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain.

Reasons for the Research Report

• The study provides a thorough overview of the global Final Expense Insurance market. Compare your performance to that of the market as a whole.

• Aim to maintain competitiveness while innovations from established key players fuel market growth.

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What does the report include?

• Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Final Expense Insurance market analysis.

• The competitive environment of current and potential participants in the Final Expense Insurance market is covered in the report, as well as those companies' strategic product development ambitions.

• According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.

• For each segment mentioned above, actual market sizes and forecasts have been given.

Who should buy this report?

• Participants and stakeholders worldwide Final Expense Insurance market should find this report useful. The research will be useful to all market participants in the Final Expense Insurance industry.

• Managers in the Final Expense Insurance sector are interested in publishing up-to-date and projected data about the worldwide Final Expense Insurance market.

• Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Final Expense Insurance products' market trends.

• Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans. 

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