Final expense insurance market to grow at 4.62% CAGR

Urbanisation and the shift from traditional support systems are driving demand in APAC.

The global final expense insurance market is projected to grow from $6.75b in 2024 to approximately $10.60b by 2034, according to a new report by Custom Market Insights. 

The market is expected to expand at a compound annual growth rate (CAGR) of 4.62% over the forecast period from 2025 to 2034.

In the Asia-Pacific region, final expense insurance is gaining traction amidst changing demographics, longer life expectancies, and a growing middle class. 

Urbanisation and the shift away from traditional family support systems are driving demand for end-of-life planning products. 

Whilst awareness remains limited in some countries, markets such as Japan, South Korea, and Australia are seeing increased adoption of final expense insurance as part of broader financial planning strategies.