Tag: Pre-Arrangements

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 […]

Business Preneed Regulations

Weekend Edition: SCI receives economic development aid, a difference of opinion in Winnipeg, a preneed ratings downgrade

It is somewhat unbelievable to me how fast we have moved from Memorial Day to Labor Day, but here we are.  Among the American debate, many schools are opening, the election is soon here, and the one constant is that those in the funeral profession continue to give comfort and guidance to those in need. Today’s edition brings you three features including plans by Service Corporation International to greatly expand its New Orleans based accounting operations, a funeral home owner […]

Finance

Technical difficulties, Seeking Alpha opinion on Service Corporation

To our readers:  Before we get into our feature article of the day I want to apologize to readers who did not receive distributed copies of Funeral Director Daily last Wednesday and Thursday.  Unfortunately, we ran into issues where we simply outgrew our former distributor of Funeral Director Daily emails, Twitter, and Facebook postings.  The growth is good, however, we were not prepared for this happening and so I apologize to our readers for the problem.  There were three articles […]

Cemetery Preneed

Better late than never

In the news last week was a story of deceased New York state firefighter Anthony Fatale and the delayed legacy of his life.  Fatale had died two years ago in 2018 at the age of 70. Fatale was single, an Air Force veteran,  and a member of the Nyack Fire Department, who many colleagues say was “larger than life”.  David Gottlieb of Empire Hook & Ladder Company No. 1 had this to say according to an article and video that […]

Business Preneed Regulations

Do the Diligence. . . a cautionary tale

Even before Robert Waltrip bought that second location in Houston in the early 1960’s there were lots of funeral homes that changed hands.  And, I’m guessing that over the years about 99% of those business transactions, especially the transferring of a funeral home to a new owner in a small community, went off without a hitch. Today, however, there are a lot more items to consider in a purchase/sale agreement so it is really smart to have good representation when […]

Preneed

Crowdfunding continues to grow for funeral expenses

I came across this article the other day about the rise of crowdfunding to pay for funerals.  Now, this is not the first time we have written about this subject, but this article is interesting because it points out some statistics and trends behind this phenomena.   The article is a public relations article about the attributes of owning life insurance, but it is very relative to our industry in that I believe that there is a direct correlation between what […]

Preneed

How does your firm view pre-need?

I wrote a story yesterday on the timing of advertising telling consumers about the benefits of pre-planning one’s own funeral or cremation services.  When I did that article I did not envision a follow-up or series of pre-need articles, but a day later here is another angle I have thought about often concerning pre-need and how it fits in with your funeral home’s service to consumers and/or your funeral homes profitability or compensation. I will admit that serving my entire […]