Funeral planning: There seems to be a gap between “Perception and Action”

 

 

Funeral planning is an interesting topic on an individual basis.  In my opinion, regardless of your age, self-mortality is a thought all human beings have at more than one point in their lives.  However, the vast majority of us do nothing to prepare for the Death Care needs of it — such as buy grave lots or make funeral plans — before it is too late.

 

It’s even become more apparent to me as I spend winters in Florida.  If you are in my age group you will hear about all the plans people are making for their eventual demise  —  such as preparing wills, trusts, and even changing states of residency in order to avoid “inheritance or estate” taxes.  .  . . . .Yet, so few seem to have any plans for their body disposition or memorialization options.

 

Tom Anderson
Funeral Director Daily

And, in that cohort that is setting up wills, estate plans, and changing residency, finances should not be a headwind for making their Death Care plans.  Yet, a recent study by Great Britain preneed provider Golden Charter indicates that only 19% of those over age 50 have such a plan in place.

 

In fact, the Golden Charter study found a “gap” in what I will call the perception of believing in a service and having a plan in place — or even talking about your wishes.  Even, without funding, Golden Charter’s study found that 80% of the populace believe it “would be a shame to go without a service” yet that same number of  80% have not even had a discussion with family about their wishes. . . . . So, there is definitely a “gap” between “perception” and “action”.

 

In my opinion, no discussion about “having a service” probably leads to relatives believing, incorrectly, that you wanted no additional services and maybe will lead to only a direct cremation.  Again, in my opinion, simply having “the discussion” will lead to the service or services that you believed would be “shameful” not to have.

 

Why is there that gap?  Well, the study tells us that a third of the population find it “difficult to talk about death” and 11% feel it is “flat-out” morbid to do so.

 

The Opportunity —   When you look at the numbers of the over age 60 population, whether it be in Great Britain or the United States, you can see a very large opportunity to make the case, and the sale, for preneed.  Getting this group to have “the discussion” and being in front of them when they do could lead to large market share increases for your funeral home. . . . or for a competitors if they beat you to the consumer.

 

A 2023 articleby Homesteaders Life indicated that 97% of families that followed through with a pre-arranged funeral were “completely satisfied” or “very satisfied” with the result.  That level of satisfaction should also lead to market share increases.

 

Think about what strategies that you can employ to get in front of those people who don’t want to, or find it difficult, to have discussions about death.  Because simply getting in front of them, and having the “discussion”, could lead to business gains.

 

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