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WINDSOR, Conn., Oct. 16, 2025—Total 2024 preneed sales rose 4% year over year, according to the latest LIMRA/Life Insurers Council (LIC) Preneed Survey Report, which includes results from 17 companies representing about 65% of companies in the preneed insurance market.

LIC, in collaboration with LIMRA, conducts this annual survey to offer insights into the unique preneed market. Preneed insurance products are different from other life insurance lines, in that the sales opportunity is not the insurance product; rather, consumers are purchasing an advance funeral plan with the guaranteed goods and services funded by a life insurance policy or annuity.

The study finds 2024 gross face amount totaled $3.04 billion. Fifty-nine percent represented single premium dollars, 37% was multi-pay, and preneed annuities accounted for 3% of the sales. Participating companies reported selling 535,503 preneed cases (62% single premium, 34% multi-pay, and 4% annuities).

“While 2024 sales growth was not as strong as the growth experienced in 2022 and 2023, these unique products continue to appeal to consumers seeking to relieve their families from the expense and decisions involved in funeral and final expenses,” said Dean Lambert, executive director, LIC. “We believe the impact of COVID-19, which heightened consumers’ mortality concerns and the need to protect their loved ones’ financial security, has waned over the past 18-24 months. That said, the value proposition of preneed contracts continues to resonate with consumers looking to lock in funeral costs at today's prices.”

The study finds the average face amount for single premium contracts was $5,398, up 1% from the prior year’s results. Average face amount was $6,274 for multi-pay policies and $4,869 for annuities, both less than a 1% increase over 2023 results.

Survey highlights will be presented for discussion at the 2025 LIC Preneed Forum, November 5 – 6 in Pekin, Ill. For more information or to purchase the LIMRA/LIC Preneed Survey Report, visit www.loma.org/LICSurveys or contact lic@loma.org.

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About LIMRA
Serving the industry since 1916, LIMRA offers industry knowledge, insights, connections, and solutions to help more than 700 member organizations navigate change with confidence. Visit LIMRA at www.limra.com.

About LIC
The Life Insurers Council is a council of LIMRA and LOMA that provides networking and resources for small-to-midsize life insurance companies and all companies involved in final expense, preneed, and home service, improving performance through shared excellence. LIC has conducted annual surveys of final expense sales since 2009. www.loma.org/LIC