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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