What is Burial Insurance Market?
Burial insurance is a type of life insurance used to pay for funeral services and merchandise costs after a death. The policy can be bought online or by telephone without waiting for an insurance-company doctor exam. In fact, burial insurance does not require a medical exam at all. Applicants are asked about age, smoking history and whether they have serious conditions. For some policies, acceptance is guaranteed. Others require a two-year premium-paying period before collection is possible and only provide coverage to 100 years of age.
Highlights from Burial Insurance Market Study
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | Esurance (United States), Direct Gap (United Kingdom), Covéa Insurance (United Kingdom), USAA (United States), ALA (United States), AXA (France), Allianz (Germany), Click4Gap (United Kingdom), AAA (United States), Admiral (United Kingdom), Nationwide (United States) and Motoreasy (United Kingdom) |
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Burial Insurance market throughout the forecasted period.
Esurance (United States), Direct Gap (United Kingdom), Covéa Insurance (United Kingdom), USAA (United States), ALA (United States), AXA (France), Allianz (Germany), Click4Gap (United Kingdom), AAA (United States), Admiral (United Kingdom), Nationwide (United States) and Motoreasy (United Kingdom) are some of the key players profiled in the study. Burial Insurance Market Segmentation:
Scope | Sub-Segments |
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Type | Level Death Benefit, Modified or Graded Death Benefit and Guaranteed Acceptance |
Coverages | Funeral service,Cemetery plot and headstone,Casket,Funeral procession,Other miscellaneous costs. |
Age group | Over 50,Over 60,Over 70,Over 80 |
Distribution channel | Online brokers,Insurance companies |
On the basis of geography, the market of Burial Insurance has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Burial Insurance Market Dynamics:
Attributes | Details |
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Growth Drivers | - Coverages and Benefits of Burial Insurance
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Influencing Trends | - Adoption of Technology in Insurance
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Restraints | - High Costs Associated with the Premiums
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Road Blocks / Challenges | - Lack of Awareness Among the Consumers
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Gaps & Opportunities | - Rising Disposable Income
- Increasing Online Sales Channel
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Key Target Audience
Insurance providers, Government associations, Research organizations and Others