Preneed

The Director. . . . “Break a leg”
Preneed

The Director. . . . “Break a leg”

Scott Turnbull is an Australian funeral director who has worked in that occupation for the past 25 years.  In an article that you can read here from the Australian Financial Review  Turnbull states that while some weddings take over a year to plan, funerals are generally planned and executed in one week or less and that results in what he says can be an underwhelming experience for the grieving consumer. Turnbull believes that planning ahead is the way to do […]

Looks like this story will end well
Preneed

Looks like this story will end well

Last October we brought you a story about an Austin, Texas, funeral home where the Texas Department of Banking (TDB) had opened an investigation.  You can read about that story concerning the Austin-Peel and Son Funeral Home here. The investigation was opened because the TDB had reason to believe that the funeral home had illegally sold prepaid funeral benefit contracts.  As it turns out, the company had collected over $500,000 in preneed payments and the TDB reported that the funeral […]

It’s not all about Social Media
Business Preneed

It’s not all about Social Media

Sometimes if you listen to some of the younger self-proclaimed death care industry experts, you would think that funeral service is only about getting your brand name on social media.  And sometimes I’ve been accused of being a little old fashioned in my thinking about how to build a brand in the death care industry. I’m not all about social media.  I think a well rounded approach to publicity and advertising is best. . including giving great service so word […]

SCI CEO Thomas Ryan on “Beacon”
Preneed

SCI CEO Thomas Ryan on “Beacon”

Last week we examined the 3rd quarter financial results for Service Corporation International.  When we did that we noticed, and told our readers, about the success that their preneed funeral services seemed to be having.  We actually told readers to compare what they are doing in their own businesses to SCI to make sure that your own business was staying on track. What we didn’t know when we reported those results was the existence of Service Corporation’s proprietary technology that […]

Pre-Paid vs. Funeral Insurance – The Aussie Take
Preneed

Pre-Paid vs. Funeral Insurance – The Aussie Take

There are some interesting things happening in the financial world in Australia.  Lately there has been quite a bit of publicity from the Royal Commission into Misconduct in the Banking, Superannuation, and Financial Services industry about the financing of funerals while still living. My guess is that a lot of this has reached the public point partly because of the consolidation trend of mortuaries on that continent and the on going part of those companies to build market share.  Simply […]

Texas Funeral Home under Scrutiny
Preneed

Texas Funeral Home under Scrutiny

In an article and investigative video story that you can read and see here, an Austin, Texas based funeral home has been accused by the Texas Department of Banking of illegally collecting over half a million dollars of prepaid funeral payments from consumers.  Illegal because the owner was not licensed to sell prepaid funeral plans. These consumers are now worried about whether the money will be there for them at the time of need as the Department of Banking, according […]

Funeral Directors Life downgraded to Negative Outlook
Preneed

Funeral Directors Life downgraded to Negative Outlook

A press release from A.M. Best that you can read here has revised the outlook to negative from stable for Funeral Directors Life Insurance Company of Abilene, Texas. The rating change also states that the negative outlook reflects the company’s “ERM” or enterprise risk management. The release also maintains that the company’s metrics “reflect the company’s generally steady operating earnings, driven by somewhat modestly growing preneed premiums.  A.M. Best does, however, view the company’s business profile as limited and concentrated […]

Life Insurer’s Council Reports on Preneed Sales
Preneed

Life Insurer’s Council Reports on Preneed Sales

In two different articles that you can find here and here, the Life Insurance Council (LIC) reported on the results of their study of 2017 Preneed activity.  The study found mixed results in that annual premiums for preneed life insurance was $1.3 billion – down 3% from 2016.  The study also found that multi-pay policies were down 11% from 2016. On the other side of the ledger, however, the LIC found that preneed annuity sales increased 5% from 2016 levels. […]

Assurant Reports Higher Preneed Profits
Finance Preneed

Assurant Reports Higher Preneed Profits

Assurant reported their 2nd Quarter results last week.  You can read their report here. The worldwide conglomerate operating in the insurance and warranty business has one of its three business segments that operates in what they call “Global Preneed”.  That is the part of the company that we at Funeral Director Daily like to review. As an entire company Assurant reported operating profits of over $121 million for the quarter as compared to $90.5 million for the 2nd Quarter 2017.  […]

Will that be Cash, Credit, or Crowdfunding?
Preneed

Will that be Cash, Credit, or Crowdfunding?

  About a year ago Funeral Director Daily ran an article when we learned that some people were using crowdfunding sites to help raise the money needed to pay for the memorial expenses that they chose for their loved ones.  We recently read an article in the United Kingdom’s Independent entitled, “We had to beg for money to bury mum.”  You can read the article here. The article points out the difficulty a family had when their 49 year old […]