Tag: funeral pre-arrangements

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 […]

Preneed

Mail on Sunday article calls Safe Hands Plans “a disgrace”

According to this article from This is Money (Great Britain) the Safe Hands Plans funeral preneed fund “went under six weeks ago”.  Taking information from an article in the Financial Mail on Sunday, it suggests that over 47,000 plan holders are left with the potential of zero balances in their trust funds that were supposed to pay for their funeral services after death. According to the This is Money article linked above “An independent actuarial report, prepared by Zenith Actuarial […]

Preneed

Pandemic Survey: Retirees emerge resilient. . . what does that mean for Preneed

Allianz Life recently published a survey that was taken of a representative sample of 1,000 Americans detailing how they were financially affected by the pandemic that we are showing signs of emerging from.  You can access an article about the survey here. In essence, the article states that there is a “significant gap in the financial experience of younger Americans and their retired counterparts“.  Going further into the details the survey showed that “68% of pre-retirees (down from 2021’s 75%) […]

Business Cemetery Preneed Regulations

Ohio cemeteries, funeral homes spar over “trusting” requirement

Ohio Senate Bill 224 will make over a dozen changes to the state’s funeral and burial laws according to this article from Cleveland.com.  The bill will do such mundane things as increasing the price to reactivate a funeral director’s license and it will also establish a more formal process for families to collect money from funeral providers if a customer signed a pre-planned funeral contract, but the family never used that particular facility. One thing it won’t do, however, is […]

Cremation Preneed

Preneed is the answer

This article picks up on yesterday’s discussion of what could happen as more crematories are built expanding the supply of crematories in the United States.  Yesterday’s discussion then went to the thought process and question of, “Will this excess capacity in cremation move cremation to a lower and lower retail cost as death care companies vie for the limited number of clients?” Shortly after I wrote that article I came to the conclusion that, even if that does happen, the […]

Business Preneed

Preneed sales. . . . The Elevator Pitch

The other day I wrote an article that was titled “Selling Preneed. . .   .positively” which you can read here.  The bottom line of that article was to illustrate when advising on preneed, to promote preneed in a positive fashion.   I went on to say how, when I did seminars on funeral pre-arrangements, I tried to put a positive spin that it (preneed financial planning) was just the next step in a life full of prudent financial decisions the consumer […]

Afternoon Edition

Afternoon Edition: Utah funeral director hopes to build business with donated services

It’s not everyday when someone opens a business and then says they are going to build that business by donating the business’ services.  However, that is exactly what James Stephens is saying as the Managing Funeral Director of the new White Pines Funeral Home in Logan, Utah. According to this article from the Herald Journal News of Utah, Stephens and a group of investors are expected to open their funeral home in mid-October.  The group purchased the building from foreclosure […]

Preneed

Can you find some extra cash-flow in Preneed

In the last couple of months or so I’ve heard from funeral home owners, or heard on a webinar, that the loss of revenue on a per case basis has been anywhere from about 9% to almost 40% in North America.  Even the public companies, such as Service Corporation International and Carriage Services, acknowledged in their latest quarterly reports that their revenues per case have dropped over 8%. It is almost universally believed and recognized that this drop in per […]

Preneed

Pre-Paid vs. Funeral Insurance – The Aussie Take

There are some interesting things happening in the financial world in Australia.  Lately there has been quite a bit of publicity from the Royal Commission into Misconduct in the Banking, Superannuation, and Financial Services industry about the financing of funerals while still living. My guess is that a lot of this has reached the public point partly because of the consolidation trend of mortuaries on that continent and the on going part of those companies to build market share.  Simply […]

Regulations

First Family Funeral Faces More Issues

Last week we told you about a problem at the First Family Funeral Home of Spartanburg, South Carolina.  That problem stemmed from the fact that a body that was to have been cremated three years earlier was found stored in a room at the mortuary just a couple of weeks ago. Today in an article and news feed you can see here, a new problem seems to have come from a life insurance policy that Rhonda Harris was using to […]