Transamerica – Monumental are running very behind – months to receive payments and over a week to verify an insurance assignment. Call Trinity at 201-750-1117 or visit www.TFF123.com
Faster verifications, same day funding…
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Effective trash talking other funeral homes.
The Congress of the United States has an approval rating of under 30%. You may notice that politicians even disregard the truth to talk poorly about their fellow public servants. No funeral home or business, in any community could survive with such a low approval rating.
Funeral homes need high marks from your community and your families want to hear your story:
What does your…
Feeling like a Bank or Funeral Home?
Being the bank for your families is a profit killer. Although nice, this practice gums up your cashflow and increases administrative costs. Funeral Homes who run larger accounts receivable experience the following:
Receivables are a distraction, chasing families or insurance companies for funds is a time killer and most often frustrating.
Unpaid claims or invoices is like having your…
How Much is a Funeral Director Worth?
Our Board of Directors for a nonprofit called Array of Hope was recently asked to decide how much to pay our Executive Director. It was a bit tricky (not as tricky as insurance assignments but…). Funeral Home owners probably struggle with how much to pay themselves too. As a funeral Home Owner, you have the responsibility of deciding how much is right for you and your business.
You…
How much damage is caused by mishandling Insurance Assignment policies?
Funeral Home directors are entrepreneurs, business owners serving their community and seeking to earn a fair profit. It’s a good business, but like all businesses every sale and every family is important. Today more than ever, competition is fierce and all aspects of your funeral home must be running on all cylinders, including your cash-flow. I’m often surprised by how different…
What is a Life Insurance Assignment?
The basic purpose of a life insurance policy is to create a financial windfall at the time of death. All sorts of life insurance products are available from various insurance companies to provide families with financial planning options. A life insurance assignment is a document that allows a beneficiary to transfer the ownership rights of a policy to a third party such as a funeral home or…
At-Needs Funding vs Insurance Assignments
Often times we are asked about At-needs funding. These are short-term loans to families who are unable to pay for burial costs either out-of-pocket and do not have life insurance benefits to utilize. We generally suggest that our clients shy away from these type of short-term loans because the 3d party lenders have a more aggressive approach to collecting on these loans.
At Trinity funera…
Funeral Home Debt – Is there a Smart way to Borrow?
Before you need to apply for Funeral Home Funding, a simple calculation will help determine how much you can afford to borrow.
A Funeral Home is like any business; there will be times when you need to prove your worth the risk to a lender. This is especially true when applying for a loan. Savvy Funeral Directors know the financial well-being of their business before they “need” to tak…
Insurance Assignments Gone Bad
As a funeral home owner, how do you determine which insurance assignment cases to take? Which ones will take months to collect and which assignments will pay short? Which insurance policies won’t pay at all; and which ones will require a lot of time and energy to collect on?
These are questions that funeral directors face every day. Recently we learned that a funeral home accepted an…
Insurance Assignments are on the Rise
More than ever families are utilizing life insurance assignment proceeds to pay for funerals.
Using an insurance assignment gives the family comfort knowing that services will be paid for by the insurance company with ease and the funeral home will receive payment upfront prior to performing the service.
Using insurance assignment proceeds results in families spending 20-30% more on funera…
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