How do we make the Irrevocable Funeral Trust and Pre-Need work together?
Funeral homes love doing Pre-Need, it locks their customers into their funeral home and insuring that they will continue to have business. While a Pre-Need policy is helpful to clients, Funeral Homes today can only guarantee so much with some Funeral Homes not guaranteeing any of their products because inflation is so high. Where are your customers able to turn to help start funding their funeral or covering the miscellaneous costs when the time arises?
This is where the Irrevocable Funeral Trust comes into play. When the Funeral Home can’t guarantee their customers any price but they still want to start funding their funeral, we need to give them a product that is Guaranteed Issue with absolutely no health questions. Think of it as a savings account for your funeral that is a protected asset so the family doesn’t have to worry about any money at the time of death.
Now when a funeral home can guarantee products on their pre-need, they are only giving a guarantee on certain products and at the time of death the family will always have miscellaneous cost to pay for. Why not write a Funeral Trust to cover those costs? This means that at the time of death the family will not have to worry about any money and can focus on what is truly important.
If you would like to learn more about the Irrevocable Funeral Trust please give DelcoUSA a call at 877-336-7782