What is a Life Insurance Assignment Form for Funeral Funding?
Funeral Homes are often the information source for families on Insurance Assignments? 3 easy steps on life insurance assignments for funeral services:
If your loved one has a life insurance policy and has named you as its beneficiary, let your funeral director know this when you make arrangements. Any funeral home will want to be paid for services however, many will accept the insurance policy so you do not have to worry about paying for services upfront. How do “Life Insurance Assignments” work?
Every funeral home has different payment policies. Many independently-owned funeral homes will accept an assignment of the proceeds of an insurance policy for the payment of your funeral. However some funeral homes may not accept an assignment of the policy; they may require payment at the time of service. Please ask you funeral director.
The way you can assign an insurance policy is to bring the policy (or policy information) into the funeral home at the time of the arrangements conference. Be forward with the funeral director, tell the director that you would prefer to pay for the services by assigning a portion of the insurance proceeds. The funeral home will ask you to sign an assignment form assigning the amount of the funeral be paid from the proceeds of the policy.
Most funeral homes that accept assignments will process the paperwork together with you. Many funeral homes will work with an assignment funding company such as Trinity Funeral Funding (http://www.trinityfuneralfunding.com/) to expedite this process. Usually the insurance company will cut two checks (depending on the size of the policy); one to the funeral home or funeral funding company for the cost of services and the other to the beneficiary for any amount above the cost of the funeral.
For more information, ask your funeral director. Funeral Directors please visit: http://www.trinityfuneralfunding.com/
Assignment funding is a simple process where a 3d party like Trinity Funeral Funding funds the cost of your funeral services through an assignment of proceeds from an insurance policy. The Assignment is generally a 1 page legal document that is signed and notarize. Here’s how it works. An insurance assignment is completed by the beneficiary and the Funeral Director, a claim form provided by either the insurance company or Trinity and a death certificate. There are times where a funeral bill is needed as well. Trinity Funeral Funding will let you know what is needed for each claim. Once these documents are completed the policy is verified by Trinity (normally within a day), funds are wired to your funeral home. The payments from the insurance company are then sent to Trinity and any additional proceeds are sent directly to the beneficiary. For more information visit http://www.trinityfuneralfunding.com/ or call Cristina at 201-750-1117.
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