https://youtu.be/9rjzhmM7YUI

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Make Insurance Assignments Work for Your Funeral Home

7 Funeral Home Marketing Ideas

7 Funeral Home Marketing Ideas

Families prefer to celebrate the life of the beloved rather than mourning their loss. Marketing efforts get better results when focused on celebrating life vs. mourning. Celebrating a life make it easier to market your services, but it may also help families deal with the loss by giving them a more positive perspective on death.

Here are some marketing ideas for your consideration:

1.      1. Provide a free family counselling session.  Schedule a time with your families to allow them to share their story, their difficulties and pain.  You’re an expert.  If you find that a grief counselor might be beneficial, you can refer the family to one.  But most families will value the time with you to just to talk. 

2.      2. Video: Creating a 2 minute video telling your story can be very impactful.  Tell your future families why you’ll take excellent care of them; why are you the home they will be most comfortable, etc.  Post this video on your website and YouTube.  No cost so there is only an upside. 

3.      3. Cover all the basics: music, readings, religious services, tributes, veteran services, casket in ground or mausoleum, printing, obituary, publications, insurance assignments, payment options, etc.

4.      4. Payment options: make this easy.  Obviously cash is best but not always.  Families spend 25-30% more when utilizing life insurance assignment proceeds.  If you’re not encouraging the use if insurance assignment, you are missing revenue and profit opportunities while adding positively to the families’ experience.  Learn more by visiting www.TFF123.com

5.      5. Exclusive products: offer a “Taylor funeral home casket” or a “Jones funeral home urn.  Perhaps offer an exclusive plate.

6.      6. Personalize anything possible.  Cards, booklets, obituaries, plates, photographs,

7.      7. Use the same visuals in all of your advertising to build your brand image wherever you are marketing: church bulletins, local newspaper, sponsoring events at local 55+ communities.

Remember, decisions are not made rationally with long term concerns.  Investing in a proper and fitting memorial services is an emotional experience.  Capture you family’s emotions and deliver a heartfelt and persuasive testimony why you deserve their trust.  Then simply deliver, over deliver and you will surely prosper.

The author's are founders of Trinity Funeral Funding, an insurance assignment funding company that provides same day verification and funding of life insurance assignment claims exclusively for funeral homes.  Trinity Funeral Funding is a family owned company located in New Jersey, 201-750-1117.  Cristina Terc has verified and processed thousands of insurance assignment claims for funeral homes and is an expert in resolving even the most complicated insurance claims including, group, federal, employee, union or individual policies.  

Transamerica Monumental - how to speed up verification and funding

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 guarantee!

https://youtu.be/Os7aD-zGoHk

Effective Trash-Talking other funeral homes

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:

1. What does your funeral home do well?  What are your strengths.   Do you have testimonials you can share; what makes you different and better.
2. Do you offer free blankets from Funeral Home Gifts?  Do you do pickups for family who are not mobile?   Do you have extended hours?  Do you have outdoor space, fireplace or private area for the family to use?  Do you do something special for veterans?
3. Do you accept life insurance assignments?  Do you work with a funding company that can provide your families additional cash for travel, etc.?
4. Saying nothing about the competition is perfectly OK.  As our mothers had taught us growing up, if you can't say something nice, better not to say anything at all.   However, you need to have enough positives to say about yourself.
5. We’ve all noticed that politicians do not worry about trash talking their competitors? They have no problem completely destroying their competition. This may be somewhat effective in getting elected, however the tremendously poor ratings of politicians is something you're funeral home cannot afford.

Is your funeral home making life insurance assignments work for you? Having a good insurance assignment funding company on your team is essential to maximizing insurance and increasing revenue and profit.  Funding companies are generally very knowledgeable; they verify and fund thousands of policies and many fund your funeral home the same day.  For more information visit http://www.trinityfuneralfunding.com/ or call Cristina Terc at 201-750-1117.

Make Insurance Assignments work for your funeral home!

https://www.youtube.com/watch?v=qr5DAj6As8E

Feel like a bank or funeral home?

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:

1.      Receivables are a distraction, chasing families or insurance companies for funds is a time killer and most often frustrating.

2.      Unpaid claims or invoices is like having your money held hostage, then injured.

3.      Bankers make money by charging interest on loans, funeral directors do not have the luxury and every day money is tied up is a heavy cost.

Taking control of your life insurance assignments is fundamental to increasing revenue and profit.  Just think, if you could magically turn your receivables into cash, forever?  This is possible.

Cristina Terc formed Trinity funeral funding to help families pay for funeral services for their loved ones without the worry of paying out of pocket for the costs.  We support our funeral homes clients by advancing money for families in return for an assignment of the life insurance benefit proceeds.

Working with Trinity is a better way to handle Insurance Assignments to eliminate your accounts receivable and make accepting assignments profitable.      Why should taking insurance assignments cost a funeral home money?   Why wait so long to get paid from insurance companies?     Let Trinity handle your insurance cases and get you paid within 24 hours of verification.     Here are a few of the benefits of working with Trinity Funeral Funding:

1.      Increasing revenue – families spend 25-30% more when using insurance proceeds

2.      Using a funding company to verify & fund life insurance guarantees your upfront payment – your invoice is paid prior to services

3.      Life Insurance is a “family retention” program easing the stress for your families while dramatically improving your cashflow

4.      Life insurance assignments when managed correctly increase revenue, profit, cash-flow and improve customer satisfaction.

Having a good insurance assignment funding company on your team is essential to maximizing insurance and increasing revenue and profit.  Funding companies are generally very knowledgeable; they verify and fund thousands of policies and many fund your funeral home the same day.  For more information visit http://www.trinityfuneralfunding.com/ or call Cristina Terc at 201-750-1117.

Does your Funeral Home have a "Payment Policy"? Here's a policy statement for you to use or edit for your home.

Funeral Services Forms of Payment Information

Our Funeral Home helps your family choose the best payment option for your family.

Acceptable forms of payment are: Cash, Money Orders, Bank Checks and life Insurance Assignment proceeds. We accept all major Credit Cards, Master Card, Visa, Discover and American Express and Life Insurance or other forms of a Death Benefit that can be assigned are accepted. There are some requirements for the use of charge cards and life insurance assignment proceeds. If you are using a debit card, it must have a Master Card or Visa logo. We can not accept personal checks.  Please make all Bank checks payable to our Funeral Homes.  We also provide financing.   

Most importantly, please speak openly with your Funeral Director about what payment option is best for you; we are all here to serve you and your family.

CHARGE CARDS

Master Card, Visa, American Express & Discover are all excepted.

WHAT ARE FUNERAL HOME CHARGES?

Your funeral bill is divided into two parts. The first part is Funeral Home charges, which consist of all services rendered and merchandise purchased directly with our funeral home.   The second part of your funeral bill consists of “cash disbursements” or advances including clergy, flowers, funeral funding fees for insurance assignments, program printing, see below for the most common charges.

WHAT ARE CASH Disbursements?

These services are directly related to a third party to be paid on your behalf that are not directly related to the funeral home.

Examples:

• ·         Cemetery or Crematory 
• ·         Clergy or Organist 
• ·         Death Certificates 
• ·         Airfare or any other transportation 
• ·         Life Insurance Assignment Funding Fees
• ·         Other funeral home charges 
• ·         Consulate fees 
• ·         Church fees 
• ·         Repass or reception fees

LIFE INSURANCE OR ANY OTHER DEATH BENEFIT

Life insurance Assignments are a form of payment that can be used to pay a funeral bill, but not in all cases.  Keep in mind, the beneficiary of a life insurance policy does not have to assign the policy for payment. There is no law requiring to do so.

These are guidelines when assigning a life insurance policy for payment:

1. Life insurance policies must be verified by one of our insurance specialist to confirm value amount and beneficiary.  We work with Trinity Funeral Funding to expedite the verification and funding of your insurance assignment.  By utilizing Trinity Funeral Funding, the balance of the insurance benefits paid to the beneficiaries will also be expedited because Trinity accelerates the process of verification and payment.
2. Insurance Policies must be enforced for 2 full years from the date the policy was issued.  Otherwise, most insurance companies will “contest” the policy and frequently only return the premiums paid up to the date of passing.
3. Insurance companies commonly accept a funeral home Assignment, which is a document that gives permission/Power of Attorney from the beneficiary to work with and pay the funeral home or funding company directly from the insurance company. Trinity will provide the assignment form. This form must be filled out and signed by the beneficiary, funeral director and then notarized.  There is a notary on our staff.
4. A claim form is usually required be filled out and signed by the beneficiaries. Most claim forms we have in our file.  Some insurance companies will fax them or they can be printed off the web. There are cases where the forms can only be mailed to the beneficiary.

We accept insurance assignments if the death certificate has one of the following manners of death. Natural, Accidental, Suicide or Homicide. If it states PENDING FURTHER STUDY, the insurance company may not pay in these two cases and we will advise you if this is the case.  

WHAT IS PENDING FURTHER STUDY ON A DEATH CERTIFICATE?

Pending further study means that the cause of death has not been determined. When someone has an autopsy by a private company or a medical examiner, in most cases, they will not have a cause of death at the completion of this procedure.  It can take many months for the report to be completed and the final cause to be determined.  Then the cause is forwarded to the registrar or health department. When it reaches there, the corrections department can take 6 to 8 weeks to amend the death certificate to put a cause of death on it.  At this point, the death certificate is ready to be mailed to the insurance company. It will take the insurance company additional time to process and pay the claim.  In total this process can take a year or more. It will take even longer if it is an employer provided insurance.

OTHER FORMS OF DEATH BENEFITS OTHER THAN LIFE INSURANCE

1. Some annuities can be used as a death benefit to pay a funeral bill. 
2. If in a car accident, there are some car insurance policies that have a death benefit as part of the policy.
3. In the city of New York, if one has been killed and was a victim of a crime, the Crime Victims Board has a death benefit.
4. Pre-Paid Funeral is one sure way of payment.
5. A burial account in a bank.

All of the above will have to be confirmed and approved before acceptance.

For more information please speak with you funeral director.  We are here to serve you.

Insurance Assignment verification and sameday funding, Trinity Funeral Funding: 201-750-1117

Easy Steps for Insurance Assignments - Video

https://www.youtube.com/watch?v=HZUGS4WRgF8

Make Assignments work for your Funeral Home

https://www.youtube.com/edit?o=U&video_id=RXPCQ6gQ268

About Trinity Funeral Funding - Making Assignments work for Funeral Homes

About Trinity Funeral Funding - Making Assignments work for Funeral Homes

Why Insurance Assignments are a big Boost to Funeral Homes

At Needs Funding for Funeral / Burial Services

TransAmerica Monumental Insurance Assignment Claims - Helpful tips

https://www.youtube.com/edit?video_id=e1Bctf4rWPI

How Much is a Funeral Director Worth?

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 will need to earn enough from your funeral home or cemetery to cover your personal expenses and retirement, without requiring unnecessary financing for your Home. The answer will be different for every funeral director, but here are some topics to consider.

How Much is a Funeral Director Worth?

When we decided on a salary for Array of Hope’s Director, we researched what competitive salaries were in the marketplace.  We also compared earning capacity for this position and experience with other businesses of this type.  You can find what other Funeral Homes are paying their Director and other functions such as “Funeral Home Director”, “Funeral Home Manager”.  Search Indeed.com, and other employment sites for reference.

How Much Can Your Funeral Home Afford to Pay its Owner?

Even funeral directors want to make as much money as they can (surprised right?).  Start by looking at where you can improve.  What are your accounts receivables?  Are you accepting insurance assignments?  Are you able to convert your receivables into cash by having Trinity Funeral Funding process and fund your insurance assignments?  If so, you have forever converted your receivables into cash, a big cash win for your funeral home.

Next, take a look at your business as if you were buying it.  Look at what the total financial benefit is to the Director.  Then subtract necessary funds for capital improvements such as limousines, building improvements, equipment, etc.  What is left might be in the ballpark of where your funeral home can pay.

Do Funeral Home Directors Retire?

Every funeral director / owner must have a retirement plan. The amount you’re able to save can depend on how you pay yourself.  The owner salary has a direct impact on retirement savings.  For example, if a funeral home owner has a SEP IRA, 25% of his compensation can be contributed.  A lower salary will reduce the possible contribution.

Having a good insurance assignment funding company on your team is essential to maximizing insurance and increasing revenue and profit.  Funding companies are generally very knowledgeable; they verify and fund thousands of policies and many fund your funeral home the same day.  For more information visit http://www.trinityfuneralfunding.com/ or call Cristina Terc at 201-750-1117.