Preneed

Funeral Directors helping funeral directors
Preneed Products

Funeral Directors helping funeral directors

When a crisis comes upon you – you have a choice.  You can shudder in a corner or you can face it and do all you can to be part of the solution.  I believe that funeral professionals and funeral business suppliers are those that want to be part of the solution. In that vein we bring you this news video and article from KTAB Television in Abilene, Texas, about what pre-need funeral insurance and death care solutions company Funeral […]

Do the Diligence. . . a cautionary tale
Business Preneed Regulations

Do the Diligence. . . a cautionary tale

Even before Robert Waltrip bought that second location in Houston in the early 1960’s there were lots of funeral homes that changed hands.  And, I’m guessing that over the years about 99% of those business transactions, especially the transferring of a funeral home to a new owner in a small community, went off without a hitch. Today, however, there are a lot more items to consider in a purchase/sale agreement so it is really smart to have good representation when […]

This should never happen
Preneed

This should never happen

Chalk this incident up to “This should never happen” but it did.  In this article from the Bucks County Courier Times of Pennsylvania we learn of the tale of Richard Geisinger who died in 2013.  The article tells the story of how Mr. Geisinger, who had pre-arrangements for a casketed burial, was instead cremated and left unclaimed in the county morgue for six years. How did this happen?  Even though he had paid for a casket, bronze plaque, mausoleum crypt, […]

Guilty plea, restitution and no jail doesn’t go over well with some pre-need victims
Preneed Regulations

Guilty plea, restitution and no jail doesn’t go over well with some pre-need victims

According to this article from the Manistee News, a former funeral home manager has pleaded guilty to taking over $223,000 in pre-need funds.  The plea would assure the defendent, Mr. Denis Johnson, age 69, of Manistee, Michigan, that he would serve no jail time as long as restitution to the approximately 60-70 victims is completed within one year. At least one relative of a victim stated that she believed the plea bargain was too lenient of a sentence.  “I guess […]

Security National Financial acquires Kilpatrick Life Insurance
Finance Preneed

Security National Financial acquires Kilpatrick Life Insurance

In a press release dated today out of Murray, Utah, we learned that the Security National Financial Corporation (SNFC) has closed on its purchase of the Kilpatrick Life Insurance Company domiciled in Louisiana.  Both companies operate to some degree in the pre-need funeral funding insurance market. You can read the press release as provided from Globe Newswire here. Scott M Quist, President of Security National is quoted in the press release, “We view this acquisition as strategic with regards to […]

Illinois funeral director sentenced for preneed irregularities
Preneed Regulations

Illinois funeral director sentenced for preneed irregularities

We received a couple of articles out of Springfield, Illinois, today concerning a southern Illinois funeral director who has been sentenced to prison for his role in failing to deposit payments for preneed funeral services. You can read about the case in these articles from WGN Web and from KFVS 12.  According to the articles, in addition to a prison sentence a fine of $25,000 was also imposed as was restitution to the victims. Illinois State Comptroller Susan Mendoza is […]

Social help in funeral costs
Business Preneed

Social help in funeral costs

Virtually all funeral homes in the United States are profit driven.  I’m aware of one funeral home in Minnesota — in New Ulm — which is a cooperative community based funeral home.  You can see their web-site here. However, I’m guessing that over 99% of funeral homes in North America are profit driven enterprises.   Today, however, we are starting to see socially conscious not-for-profit death care establishments turn up in Australia and Scotland that may someday put a dent in […]

Preneed:  Do you know your competitors?
Preneed

Preneed: Do you know your competitors?

I’ve been involved in the funeral business long enough to see the State of Minnesota move, in what I consider a more consumer friendly way, in respect to the business of preneed.  I can go back to the 1980’s when we were only allowed to put a consumer’s designated funeral funds into a bank guaranteed certificate of deposit. I’ve seen the preneed movement in our state then go to insurance sold by designated agents not affiliated with funeral homes to, […]

From the Veterans Day file
Business Cemetery Preneed

From the Veterans Day file

Yesterday was Veteran’s Day across the United States and we noticed a couple of funeral related items that we thought we would pass on to our readers. First of all, we noticed how Service Corporation International’ s Dignity Memorial location in Western Michigan received some really good attention on a television talk show about pre-planning options for veterans.  You can see the video here.  This is great publicity and public information. We just think it is great marketing by the […]

Assurant reports 3rd Quarter 2019
Finance Preneed

Assurant reports 3rd Quarter 2019

Assurant is a leading global provider of housing and lifestyle solutions that support, protect and connect major consumer purchases.  In relation to the death care industry they are a provider of pre-need or what they call “pre-funded funeral insurance”.  Assurant is a Fortune 500 company with a presence in 21 countries. They recently reported their 3rd Quarter results for 2019 and you can see them here.  In those results they reported $104.8 million of operating income of which $7.4 million […]