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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