Tag: Pre-Arrangements

Afternoon Edition

How does your firm view Preneed?

I have a son that works in the automotive industry and we’ve discussed their lines of revenue quite often.  For instance the average dealership has about six primary lines of revenue – new car sales, used car sales, the service or repair center, a collision repair center, a leasing center, and a financing center.  At any given time some of those lines may be bringing in revenue. . sometimes dependent on the economy and supply chain. In the funeral home […]

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 […]

Business Products

“Decision Fatigue”. . . do you put your client families through it

Saturday was going to be a busy day of working in the yard for me.  So, after my morning bike ride I showered up and told Angie I’m going to McDonalds for some breakfast and a chance to sit down and read the newspaper before I got down to doing that work. As like so many places today they were short on help and there was no one at the order cash register and customers – McDonald’s like to call […]

Preneed Regulations

Regulation of Preneed apparently coming too late for some consumers

It would be safe to say that in Great Britain there has been a lot of discussion about the costs of death care among consumers and government alike.  While it has been going on for some time and there is no doubt that the Covid-19 pandemic and the rise of Direct Cremation with No Services (DCNS) has forwarded the discussion, suffice it to say that the discussion has been going on for some time. And, the discussion has led some […]

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 […]

Cremation Preneed

An interesting look at disposition intentions

Every once in a while I will come across a survey on some aspect of the death care world that doesn’t quite jive with what I’ve been led to believe.  Normally when that happens I’ll find out the survey was constructed and completed by some one from outside the traditional death care world. When that happens I always find it interesting to look at who commissioned the survey and who took the survey.  That happened the other day when I […]

Cremation Preneed Regulations

Death care receives criticism on three continents

I’ve operated and managed a thriving funeral home.  If you’ve been there and done it. . . you know it is 24/7/365. . . .not many days go by when you don’t worry about something.  And, I’ve dealt with grieving family members, regulators, and the consumer movement too.  When you operate a community funeral home, there is a lot to do. . . . . and a lot of people who will tell you how to do it better — […]

Preneed

Is now the best time ever to build market share thru Preneed?

Our funeral home will celebrate 150 years of service in 2022.  However, we have really only helped families pre-arrange and pre-finance funerals since about 1964 — about 60 years.  And, in those early years, it really wasn’t about pre-planning and pre-financing consumer funerals, but about setting up payment options or trusts for those helped through government programs. In Minnesota, by law, we weren’t even allowed to offer insurance plans to consumers to specifically cover funeral costs until the 1980’s.  My […]

Finance Preneed

Assurant reports. . . . Preneed seems to be “up in the air”

Worldwide insurance conglomerate Assurant reported both its 4Q 2020 and its Full Year 2020 results last week.  The company reports in three distinctive segments — Global Housing, Global Lifestyle, and Global Preneed. The total Earned Premiums of the entire company for the Full Year 2020 combined to $9.52 billion which is a better than 2% increase over the combined Earned Premiums of about $9.33 billion in FY 2019.  The company press release, which you can read here, had this to […]

Afternoon Edition

Life expectancy, funeral choice, and the effects on revenue

Yesterday Funeral Director Daily published an article about cemeteries and in that article we made the assertion that the COVID experience of 2020 will probably have some type of long-term effect on funerals going forward.  That statement was made mostly in reference to what has happened with funeral attendance due to the social distancing practices that have been imposed from place to place. It’s been my experience that when an individual is forced to change a habit, sometimes that forced […]