Final Expense Insurance Market was valued at USD 8.1 Billion in 2022 and is projected to reach USD 11.1 Billion by 2030, growing at a CAGR of 4.2% from 2024 to 2030.
The global Final Expense Insurance market was valued at approximately USD 35 billion in 2022. With a projected compound annual growth rate (CAGR) of 6.5%, the market is expected to reach around USD 47 billion by 2027. This growth is driven by an increasing awareness of end-of-life financial planning and a rising aging population across various regions. The need for affordable and accessible financial solutions to cover funeral and related expenses has propelled the demand for final expense insurance products. The market is characterized by a diverse range of policy offerings, catering to varying customer needs and preferences, which further fuels its expansion.
Emerging markets, particularly in Asia-Pacific and Latin America, present significant opportunities for growth. These regions are experiencing a rise in disposable income and an increasing number of elderly individuals, contributing to a growing demand for final expense insurance. Additionally, advancements in digital technology are enhancing distribution channels and customer engagement, offering insurers new avenues to tap into previously underpenetrated markets. As these trends continue, the final expense insurance market is expected to see substantial development and increased market penetration in these emerging regions.
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Allianz
AXA
Generali
Ping An Insurance
China Life Insurance
Prudential PLC
Munich Re
Zurich Insurance
Nippon Life Insurance
Japan Post Holdings
Berkshire Hathaway
Metlife
Manulife Financial
CPIC
Chubb
AIG
Aviva
Allstate
Swiss RE
Prudential Financial
Travelers
AIA
Aflac
Legal & General
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Final Expense Insurance Market
Agency
Brokers
Bancassurance
Digital & Direct Channels
Based on Types the Market is categorized into Below types that held the largest Final Expense Insurance market share In 2023.
Permanent
Non-Permanent
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Final Expense Insurance Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Final Expense Insurance Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Final Expense Insurance Market, By Type
6. Global Final Expense Insurance Market, By Application
7. Global Final Expense Insurance Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Final Expense Insurance Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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