Final Expense Funding and Planning made simple. There are simple truths and laws that protect each of us when a loved one passes. Knowing what to do, and having a plan to execute can save families THOUSANDS of actual dollars.
At our agency we specialize in helping families on a really horrible day, when they have lost a loved one. Simply providing a check, relieving some of the financial burden, is certainly part of what we accomplish. However, the part we spend most of our time discussing with families is on the Planning side. We make sure that families know their rights and ensure they keep more of the money from Life Insurance instead of handing it over to a sales person at a funeral home.
The Funeral Rule, which was passed in 1984 and finally implemented in 1992, offers some of the simplest and finite resolutions to helping a family navigate the confusing world of funeral homes and mortuaries. Knowing what you can do, and what you do not have to do, can save a family thousands by simply knowing a few of the rules provided by the Federal Trade Commission (FTC). Some of those highlights include the following:
1) A general price list (GPL) of all the funeral home’s goods and services (including caskets) must be provided, even when asked for via telephone.
2) A funeral home can not refuse a casket that is purchase from an outside source, or charge a handling fee. The funeral home most be available to receive property that is purchased from somewhere else.
3) An itemized statement of goods and services that are being purchased, must be provided. The customer has the right to only pay for items they desire, regardless of “packages” or bundles.
4) Most states do not require embalming, and no funeral home can suggest that any type of embalming will preserve a body better than any other.
In most cases, having a simple written plan of the types of arrangements desired in advance can help relieve a tremendous amount of stress at the time of loss. Having a written plan can save time, money, and even families. More family arguments involve a death when compared to a divorce.
Part of our planning process is to help families find resources to help find, implement, and even secure merchandise for burial at a fraction of the cost. The funding we use to implement these plans are designed to pay very quickly so the family can focus on each other and begin their grieving process instead of worrying about how to pay a Funeral Director.
Although we communicate very loudly about how to save money at a funeral home, we find that they still enjoy working with our team. A Funeral Director will often find themselves with a grieving family, that has no plan or idea of what their loved one wanted, limited funds to do anything properly, and all of this extends the amount of time their services are required. Having a team like ours in place helps make everything run more smoothly, allows the process to run correctly, and the family to focus on what matters; FAMILY!