Funerals and memorial services are expensive affairs. It is not uncommon to run up a bill for several thousands of dollars to give your loved one a fitting final ceremony. The good news for families is that most people have a life insurance policy that is intended to cover these high costs. The bad news is that insurance payouts do not always go as planned. What happens when you’re expecting an insurance company to cover your expenses but they cannot pay until well after the planned date of your loved one’s ceremony? These services cannot wait and most people do not have the personal capital to cover the costs out of pocket.
Enlist a Funeral Assignment Company
There are other options for funeral home funding beyond paying out of pocket. Better yet, there are services that your funeral director can work with independently to take the concerns off your plate. A funeral assignment company is a capital firm that can forward the funds for a memorial service before the insurance company pays out. After that, they take on the responsibility of collecting on the life insurance policy from the insurance company. This is all done for a small fee, behind the scenes, by the funeral director, on the behalf of the family of the deceased. With payment secured for the funeral services, the funeral director can now focus on organizing a proper memorial and the family can grieve their loss without the additional financial stress.
Not All Funeral Home Funding is the Same
As a funeral director, if you are searching for a funeral assignment company, you will want to weigh your options carefully. Make sure the company you choose has been in business consistently for a long period. Family owned companies are more likely to understand your specific needs and circumstances. Most importantly, look for a non-recourse company that will not take collections action against your establishment if the insurance company refuses to pay out. Following these steps should ensure that you have a lasting relationship with a trustworthy company.
