Frazer Blog

Why Your Funeral Home Should Offer Life Insurance Assignments As Funeral Payment

by | May 2, 2019 | Funeral Payment Options, Funeral Profession

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Did you know that today is National Life Insurance Day? It’s the anniversary of the day that life insurance began being offered in the United States. This day is the perfect opportunity to share why your funeral home should offer multiple funeral payment options, like life insurance assignments.

Why You Should Offer Multiple Funeral Payment Options

Many families simply can’t afford to pay for funeral expenses up front. Instead of settling on funeral arrangements, your funeral home can offer them multiple payment options. This way, they can plan a personalized, meaningful funeral service without worrying about how they’re going to pay for it.

There also are several other reasons families may choose an alternative funeral payment option, including:

  • They want the convenience of paying online from the comfort of their own home, such as with a credit card or eCheck.
  • There are other necessary expenses they’d like financial assistance with — such as a memorial fund or their children’s college funds — so they could reach out to their community for support with a crowdfunding campaign.
  • They would rather pay off the expenses over time rather than all at once, like with a loan.
  • They would rather keep their savings or don’t have enough savings, so they need to find another payment method, such as with a life insurance assignment.

How Families Benefits from Life Insurance Assignments

For families who want a convenient, alternative funeral payment option, life insurance assignments may be the answer. It gives families another option for paying the funeral expenses in full if they don’t have the funds or don’t want to take on a loan. It also gives the family peace of mind knowing that they have a means of paying for their loved one’s funeral, and they don’t have to worry about it while grieving.

What Frazer Offers

Frazer Consultants offers Tribute Insurance Assignments. With this program, your funeral home can process life insurance assignments as funeral payment quicker and easier than ever! It only takes a few minutes to submit a claim in your website’s admin panel, and the claim is verified for funding within 24 to 48 hours. Plus, your funeral home gets paid in as little as 24 hours!

Additionally, Tribute Insurance Assignments accepts any type of assignable claim, including contestable claims, group life claims, and more. The Tribute Insurance Assignments team handles the administrative work and other tedious tasks. This way, your funeral home’s staff can focus on helping your families grieve and plan a meaningful funeral.

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