preneed

adjective
pre·need | \(ˌ)prē-ˈnēd \
variants: or pre-need

Definition of preneed 

: occurring before there is a need especially : planned prior to death preneed funeral arrangements preneed contracts/insurance Pre-need funeral insurance is whole life insurance that provides funds to pay for the insured's funeral and burial. — Harriett E. Jones

First Known Use of preneed

1945, in the meaning defined above

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The first known use of preneed was in 1945

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