Preneed

Finance Preneed

FDLIC acquires American Life and Annuity Company

We learned late last week in this press release that Funeral Directors Life Insurance Company (FDLIC) of Abilene, Texas, acquired the American Life and Annuity Company (ALAC) of Hot Springs, Arkansas.  According to the press release “effective immediately, FDLIC will work to support existing ALAC policyholders and Arkansas funeral homes”.  Again, according to the press release, “President and CEO of FDLIC Kris Seale and ALAC President Claude Holloway worked closely together to ensure a smooth transition process for both companies, […]

Cremation Finance Preneed

SCI settles “Deceptive sales” lawsuit for $209 million

Service Corporation International (SCI) has agreed to provide up to $209 million in refunds to settle a federal class-action lawsuit alleging it deceived 87,000 Florida customers who purchased its prepaid plans according to this article from last week from Yahoo News. According to the article SCI Direct (formerly called Neptune Society Management Corporation) was named as co-defendant in the class-action suit originally filed by West Palm Beach senior Nancy Taylor in April 2020 in U.S. District Court in Fort Lauderdale. […]

Preneed

Americans would rather talk about any subject than death

Recently I came across this article from the Insurance NewsNet based on a survey from health insurer, Ethos.  The article was based on what traditionally taboo subjects would people be willing to talk about.  Turns out that 81% of the people were willing to talk about Money, but at the bottom of the list came “Death” which only 32% of the survey subjects were willing to talk about. In between those extreme numbers came Mental Health -56%, Sex – 48%, […]

Cremation Finance Preneed

Messenger acquires Thumbies; thoughts on the “new memorialization”

In this news release from Messenger News you can read about the Messenger Company and its acquisition of the Thumbies Fingerprint Keepsakes business.  The release states that “the new addition to the Messenger family of companies will allow the Messenger team of sales representatives to offer the complete line of Thumbies jewelry in their portfolio of products, supporting the needs of funeral home partners across the country”. Kevin Tkacz, President of Messenger, added this comment, “This acquisition allows Messenger to […]

Cremation Preneed

Low-cost preneed plans proving to be a disrupter

This recent article was published by Financial Content in Australia about the low-cost preneed market and made the comment, “This rise and popularity of ‘low cost’ prepaid funerals have taken the death care industry by surprise. With household budgets increasingly coming under strain from rising inflation, cost considerations are likely to come even more to the fore over the coming year. . . .It doesn’t matter how bad or risky the fundamentals are: Consumers have fallen in love with the […]

Preneed

Will Aflac change preneed?

Earlier in August, partly through this press release, Aflac announced that they will be entering the “Final Expense” insurance market and made a point of detailing a strategy aiming consumer directed products at the Senior insurance market.  Not only will Aflac offer a Final Expense product but they will also be rolling out a Medicare supplement product. Here’s what Aflac Deputy U.S. President Virgil Miller says of the product roll-out, “This product expansion represents not only new offerings, but a […]

Business Preneed

Is Great Britain the proverbial “canary in the coal mine” for future U.S. death care purchases?

This recent public relations press release indicating that a shift in attitudes of people in Great Britain about how people want to “Say Goodbye” to their loved ones makes one wonder if that shift will find its way across the Atlantic Ocean to the United States. One report found that “sales of direct cremation plans – a straightforward and affordable alternative to traditional funerals where the deceased is collected, cared for, and then cremated without a service or mourners present […]

Preneed

NGL divests Settlers Life, positions for stronger Preneed business

This article from the Insurance News Net informs readers that preneed insurance company National Guardian Life (NGL), based in Madison, Wisconsin, has sold its interest in Settlers Life Insurance Company to Everly Holdings, LLC.   The sale consists of approximately 225,000 policies that are geographically disbursed throughout the United States. Those policies included in the agreement include final expense and single annuity products. According to Knut Olson, President and CEO of NGL, this move strengthens NGL’s ability in the Preneed funeral […]

Preneed

Premier Preneed adds training videos

According to a press release from the company, Premier Preneed Marketing, a preneed marketing company that offers funeral homes throughout the United States a comprehensive product portfolio to meet both their financial objectives and marketing needs, has announced that the company has recently developed a series of training videos on the topic of preneed.  These videos are currently found within the Premier Preneed 360 CRM platform. The videos were created by Craig Stewart, a licensed funeral director and funeral sales […]

Preneed

A Preneed “check-up”. . make sure you “Do it Right”

Your funeral home has lots of options when it comes to the issue of Preneed.  For instance, in most states you have the choice of funding via Trust or Master Trust bank accounts or funding with life insurance vehicles. You also have the decision as to if you are going to guarantee the sale of the funeral or memorial services with preneed selected services for the pre-funded amount or use the pre-funded amount as a “bag of cash” to be […]