Why do we over think the Funeral Trust?
For most Life Insurance Agents we tend to over think a product and want to make sure that it is the best option for our client. What growth rate is on the product? How can my client make money from this? The Funeral Trust is so simple, and such an easy sale, that we need to stop over thinking it and show our clients how simple and easy it will be for them. By asking a couple simple questions and knowing what some of their objections might be the Funeral Trust is easy and simple to provide for you clients.
- Ask the simple question, “Do you want your family to pay for your funeral?” Their answer is most likely going to be “No”, and the Funeral Trust sets aside money that they want so the family doesn’t have to worry about it during a time when things aren’t all that great.
- Your client might say “I already have a life insurance policy that will pay for my funeral expenses” and that’s great. However most insurance policies need a death certificate to file a claim but with a Funeral Trust all you need is bill from the funeral home to file the claim and the funeral home is paid within 48 hours.
- “My mom is in the nursing home, what if we don’t use all the money?” If they were on state assistance that money most likely will be recovered by the state. However if they didn’t do a funeral trust all the money would have been paid to the nursing home to begin with so the money that will be used on the funeral is still protected.
Example: Mom puts $10,000 into a funeral trust and is Medicaid exempt right away. When she passes they only use $8,000 for the funeral with $2,000 left over. Since she was on Medicaid the state recovered the $2,000. That money isn’t “lost” to the state because if she did nothing all of that $10,000 would have been spent on the nursing home before she was able to apply for Medicaid.
The Funeral Trust is such a simple product for your client to fund their funerals without having to go to the funeral home. If you have more questions on the funeral trust product give our home office a call at 877-336-7782 or visit our website at http://www.delcous.com
*Medicaid rules vary state by state, please contact an Elder Law Attorney in your state for exact rules*