Preneed

Business Preneed

Can you make inflation work for you

I recently read an article from Yahoo Finance written by Andy Serwer that asks the interesting question, “(Is) inflation the business opportunity of a lifetime?”  You can read that article here. Serwer explains that after almost fifty years of very low static inflation that we may be in for a much higher rate for the next several years.  United States price inflation rate was at about 5.7% in 2021 and it appears like it will run at least at that […]

Cemetery Preneed

Catholic Cemeteries of NE Kansas partner with funeral homes to offer valuable services

Less than a month ago Funeral Director Daily published this article that questioned if the days of funeral homes and cemeteries helping each other are over.  That article questioned the competitive nature of each entity that now sold products historically affiliated with the other entity as a way of “full service shopping” for death care consumers. For instance, funeral homes are now, more than ever, actively selling monuments and cemeteries, now more than ever, sell burial vaults and urns.  Nobody […]

Finance Preneed

InvoCare returns to profitability through pets and pre-need

Australia’s largest provider of death care services, InvoCare, issued a statement on their 2021 Year End results last week.  In that statement they announced that they had returned to profitability with an after-tax profit of AUS $ 80.2 million (US$ 57.2 million) after going through the drastic Australian lock-down year of 2020 with a loss of AUS $11.5 million (US$ 8.42 million). The company also announced that revenue grew 11% in 2021 to AUS $532.5 million (US $ 389.9 million).  […]

Preneed

Is it possible to “Over-Regulate”?

I’m a big believer in playing by the rules and also a believer that rules and regulations are necessary in order to live in an organized society.  I’m also one of those Americans who believes in the process of “Self-Reliance” and “Self-Determination” and sometimes think that “Regulations” can hinder one’s ability to be the “Best they can Be”. Currently in Great Britain there is a real debate on the regulations of Preneed funeral policies.  I don’t pretend to be an […]

Preneed

Life insurers see huge claims, how’s your Preneed company?

I’m a licensed health and life insurance agent.  I received my license and started a Preneed Funeral insurance agency back when Minnesota first allowed funeral directors to do so in the 1990’s.  It was a boon to our business as we could now write Preneed policies and receive a commission on them.  Our funeral home evolved into a business that had two full-time preneed agents and two part-time, funeral director/agents, including me. Up until this time, Minnesota had only allowed […]

Business Preneed Products

The Arrangement and Preneed Conferences

I’ve been out of active funeral directing for the past eight years.  And, I won’t apologize for it, but I’m a traditionalist when it comes to funeral service.  That means I still believe in the value of the public acknowledgement of death, the tradition of a service or celebration of life, and the idea of permanent memorialization for the deceased. However, every time I turn around I seem to see the public choose services that lack in some of those […]

Business Preneed

How do you collect cash and control receivables

I came across this article entitled “Lending USA introduces FastScreen, a New Tool for Pre-Loan Qualification for Funeral Home Merchants” and it reminded me of the struggles I had over the years about implementation of tougher credit policies on client families.  The age old “push-pull” credit decision is that you don’t want to make it difficult for families, however, too much leniency and you may be doing your work for less than full payment or, in some cases, no payment […]

Business Preneed

Do you have the “Long View” in customer acquisition?

Every day funeral directors and funeral home owners work hard and diligently in taking care of the families that they are entrusted to serve.  Sometimes it is a matter of just finishing with one family when the phone rings again and the funeral director/funeral home owner starts the cycle all over again. As your business profits from this type of back-to-back business it can get a little illusionary that it is just going to keep on doing so, profitably, into […]

Business Cemetery Cremation Preneed

Out with the old. . .

This article will be sent to Funeral Director Daily subscribers on the last day of 2021.  By that time America will have passed the 800,000 number of deaths due to Covid-19 and will have had more deaths in 2021 than in 2020.  That’s 800,000 individual human beings who have lost their lives and it is 800,000 times that the men and women of funeral service have answered the call to take care of these individuals. . . . individuals loved […]

Business Preneed Products

Digital life and legacy services company has raised $7.5 million to date

What happens to our online accounts, photos, documents and more when we die? According to this press release, “Our digital lives – and deaths – are increasingly complex.  Recent surveys show that some 65% of U.S. adults do not remember their passwords and another shows that 95% have no idea what happens to their digital stuff when they die.” The press release goes on to say, “GoodTrust offers a comprehensive suite of estate-planning tools including the ability to create a free […]