preneed
We learned late last week in this press release that Funeral Directors Life Insurance Company (FDLIC) of Abilene, Texas, acquired the American Life and Annuity Company (ALAC) of Hot Springs, Arkansas. According to the press release “effective immediately, FDLIC will work to support existing ALAC policyholders and Arkansas funeral homes”. Again, according to the press…
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Service Corporation International (SCI) has agreed to provide up to $209 million in refunds to settle a federal class-action lawsuit alleging it deceived 87,000 Florida customers who purchased its prepaid plans according to this article from last week from Yahoo News. According to the article SCI Direct (formerly called Neptune Society Management Corporation) was named…
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This recent article was published by Financial Content in Australia about the low-cost preneed market and made the comment, “This rise and popularity of ‘low cost’ prepaid funerals have taken the death care industry by surprise. With household budgets increasingly coming under strain from rising inflation, cost considerations are likely to come even more to…
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Earlier in August, partly through this press release, Aflac announced that they will be entering the “Final Expense” insurance market and made a point of detailing a strategy aiming consumer directed products at the Senior insurance market. Not only will Aflac offer a Final Expense product but they will also be rolling out a Medicare…
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This recent public relations press release indicating that a shift in attitudes of people in Great Britain about how people want to “Say Goodbye” to their loved ones makes one wonder if that shift will find its way across the Atlantic Ocean to the United States. One report found that “sales of direct cremation plans…
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This article from the Insurance News Net informs readers that preneed insurance company National Guardian Life (NGL), based in Madison, Wisconsin, has sold its interest in Settlers Life Insurance Company to Everly Holdings, LLC. The sale consists of approximately 225,000 policies that are geographically disbursed throughout the United States. Those policies included in the agreement…
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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…
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I’ve mentioned before that things change in Death Care. . . . but they seem to change rather slowly and methodical. We’ve seen a slow 40 year march to cremation being the most popular method of human disposition. And we’ve seen a movement over the last century from home funerals, to funeral homes, to church…
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Security National Financial Corporation (SNFC), the Utah based company that has three separate business segments including those that operate in the retail mortuary and cemetery space, the preneed insurance space, and is also the parent company of C & J Financial, had very mixed results in the 1st Quarter of 2022 as seen in their…
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In the shadows of the failure of preneed funding vehicle Safe Hands Plans, the British government is being urged to set up a fund for those that have lost funds through the collapse of Safe Hands Plans. As you may know, the British preneed industry is to come under the purveyance of the country’s Financial…
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