Tag: prepaid funerals

Afternoon edition:  lots of news. . . finance, cemetery, coroner race, funeral home sold, more
Uncategorized

Afternoon edition: lots of news. . . finance, cemetery, coroner race, funeral home sold, more

As we head not only into the weekend but into the month of August, we found lots of interesting stories for our readers.  And, they are from all over the world. . .from preneed insurance in New Zealand, to public company finances in Great Britain, and back to the good old U.S.A. with stories ranging from a body potentially buried in the wrong spot to a coroner’s race pitting two funeral directors against each other. Read the stories. . . […]

Homesteaders to offer webinar
Preneed

Homesteaders to offer webinar

We have learned that Homesteaders Life Company is offering a free webinar on Friday, July 10, to take place at 11 am Eastern Time, 10 am Central Time. The webinar is entitled “Bouncing Back after COVID-19 — Strategies to heal and thrive in life and business“.  You can learn more about the webinar and register for participation in viewing it here. More news from the world of Death Care: Body Composting is the newest sustainable death practice.  Now Belfast council […]

The savings rate and what it can do for preneed and cemetery sales
Cemetery Preneed

The savings rate and what it can do for preneed and cemetery sales

It’s not even noon on Sunday yet and I’ve had a pretty good day already.  Minnesota has allowed churches to open at 25% of capacity so my wife and I attended church today, albeit wearing masks and sitting far from anybody else, for the first time since mid-March.  Also, singing was banned for just instrumental music, but for someone who has a spiritual bent to them, it felt really good to be in church.  I’ve also had a chance to […]

Security National reports 3Q and 9-month 2019 financials
Finance

Security National reports 3Q and 9-month 2019 financials

Security National Financial Corporation of Utah, a public company that has operations in both the mortuary and insurance businesses reported financial numbers for their 3rd Quarter of 2019 recently.  You can read their press release on that information here. 3rd Quarter Life Insurance revenues are up slightly to $29.8 million in 2019 from $28.9 million in 2018 during the same period.  They report, however, that their Cemetery/Mortuary revenue for the 3rd quarter is down in 2019 to $3.57 million from […]

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 […]

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, […]

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 […]

United Kingdom insurer, DeadHappy, plans move to death care ideas
Preneed

United Kingdom insurer, DeadHappy, plans move to death care ideas

DeadHappy, the United Kingdoms technical insurance startup that recently received about US $ 5 million in Series A funding, announced in this  article from Techcrunch, that they hope to get more involved in the wishes of their insured, including making sure that your funeral is the way you want it. The company was founded in 2017 and claims to be the United Kingdom’s first fully digital pay-as you-go life insurance provider.  According to the Techcrunch article that means that their […]

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.  […]