Funeral Pre-Need
Scott Turnbull is an Australian funeral director who has worked in that occupation for the past 25 years. In an article that you can read here from the Australian Financial Review Turnbull states that while some weddings take over a year to plan, funerals are generally planned and executed in one week or less and…
Read MoreThere is not a business around that doesn’t want a bigger piece of the pie when it comes to market share. Funeral businesses and funeral home owners are no different. So, what is the secret in building your market share? First, there is no silver bullet on how it is done. However, just like Major…
Read MoreLast 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…
Read MoreAn article from the Des Moines Register that you can read here gives some implications on the American Enterprise Group (AEG), a Des Moines based insurer, and its acquisition of Great Western Insurance Company of Utah. As you recall we made you aware of this acquisition last month on Funeral Director Daily and now that…
Read MoreBack in the 1990s as our State of Minnesota began allowing insurance policies to be a repository for pre-need funeral arrangement funding, many funeral homes, mine included, started insurance agencies in order to profit from the decision. Since, Minnesota is a 100% trusting state, prior to that decision if a family gave you $5000 to…
Read MoreIt is interesting for me to speculate on what is happening in the Pre-Need insurance market. While I have access to some statistics – it is by all means when considering the national perspective – a small sampling size. However, I do see a couple of things trending that I would indicate that the Pre-Need…
Read MorePre-Need insurance means different things for different funeral homes. Some funeral homes use pre-need to build market share, some use pre-need as a cash-flow tool, and some use pre-need as a means of providing revenue and net income to the bottom line. Probably more often than not, funeral homes use pre-need for a combination of…
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