Preneed insurance provider Homesteaders Life Company released their 8th annual Preneed Motivators survey last week.  According to this press release from which you can download your own copy of the survey results, “. . .this year’s Preneed Motivators report highlights how timing, education and trusted guidance influence when families decide to plan ahead. The eighth edition also includes practical strategies and resources funeral professionals can use to strengthen their preneed programs, improve outreach and build lasting relationships with the families they serve.”

 

There is a lot to learn from taking a look at this report.  There is exceptional data about Preneed and what motivates those who purchase Preneed products to do so.  According to the survey notes, the answers were taken from 531 Homesteaders Life policy holders who pre-arranged and pre-funded a Preneed policy in May 2025.

 

Here is some of the data that I found interesting and, more than likely, of value for those who are interested in “zero-ing in on their potential Preneed  clientele”:

 

• Policy holders view the ages of 70-84 as the “Right Age” to take pre-planning action

• 82% who pre-plan are married or widowed when they pre-arrange.  Only 18% of pre-plans are on the lives of not-married Americans, even thought they represent 23% of Americans overall.

• 22% indicate that the main reason for taking pre-planning action is because of a recent death of a family member.

• 31% of policy holders waited two years from the time they first considered pre-planning until they actually completed the process.

• 18% of policy holders completed pre-planning within 2 weeks of first considering pre-planning.

• 83% of policy holders did their pre-planning at the funeral home.

• 66% of pre-planners look for pricing information online.

• 75% of pre-planners only considered one pre-plan option.

• Only 6% of pre-planners fall into the category of “None” when asked their religious affiliation.  That is is contrast to 28% of the general United States adult population self-describing as “None” when asked their religious affiliation.

 

Funeral Director Daily take:  This is great information and those funeral home operators who are looking to increase their Preneed sales should take a serious look at the data.

 

While the 83% rate for “Pre-planning” at the funeral home is interesting and an indication that you want to get potential Preneed consumers to the funeral home, Service Corporation International (SCI) CEO Thomas Ryan made these observations in the company’s April 30 Earnings Call, “Nonfuneral home preneed sales production increased . . . . 9% over the prior year quarter. . . . . We found that (out of the funeral home) seminars are a way that we can educate the consumer, get in front of them. . . . really pushed the initiative to say, let’s expand the number of seminars we’re doing, and we’re seeing great success with that.”

 

So, I think it is important to also get out in the community.  While it may not be your firm at this time, there probably is somebody doing seminars to the general public somewhere in the community in an effort to wrestle market share to their business.

 

Our funeral home, when I was a Preneed seminar speaker, also had great success in lowering that 70-84 “feels right” age.  We sent seminar invitations to those 55 years and older and expressed the opinion that when one is looking into the changes they will see coming financially with Social Security (generally eligible at age 62) and Medicare (generally eligible at age 65) it is also a good time to take a hard look at one’s mortality and funeral/cremation/memorialization planning.

 

And now, after passing those ages myself, I can testify that people in the “Nearing Social Security and Medicare” ages discuss the differing options for this eligibility with friends a great deal.  Wouldn’t it be great if they brought up their preneed policy with your funeral home at the same time? . . . . .Marketing to younger preneed targets is a way to accomplish that goal.

 

In any regard, Preneed is a proven method of not only gaining market share but it also is a great remedy for timely payments on receivables keeping the business cash-flow steady.

 

More news from the world of Death Care:

• Restoration of cemetery in Allen County underway.  Video news story and print article.  WNKY News 40 – Bowling Green (KY)
• A Ranier Beach filmmaker turned grief into documentary about green burials.  South Seattle Emerald (WA)
• Final Arrangements:  What makes natural burials different from traditional funerals.  Video news story and print article.  Fox Carolina – Greenville  (SC)
• Small town’s “pioneering plan” for mortuary waste.  1News (New Zealand)
• Legacy Cremation Services brazenly violating federal court order.  Business Insider

 

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