Why do clever Funeral Directors use a Funding Company for insurance assignments?
1. Getting paid fast eliminates accounts receivable (no one is faster at verifying than Trinity),
2. A good funding company reduces administrative costs by handling the endless questions & requirements from insurance companies,
3. Rates are exceptionally low so the fees are minimal,
4. A quality funding…
Monthly Archives
December 2015
All About Assignments Funeral Directors
Funeral Funding and How It Affects You
Do you gamble with your families?
Being the bank for your families is a profit killer. Although nice, this practice gums up your cashflow and increases administrative costs. Funeral Funding companies come in all shapes and sizes, with different credentials, levels of experience, knowledge bases, and fee models. Arm yourself with the correct questions to ensure that the professional funding…
Information on life insurance assignments
My father has a life insurance policy with me as beneficiary and I need to know at his death when I make funeral arrangements will the funeral home want money up front or will they take his policy? How does this work?
Every funeral home has different payment policies. Many independently-owned funeral homes will accept an assignment of the proceeds from an insurance policy for the payment of…
Funding options for Funeral Homes
Giving your families more ways to pay you is never bad, right? You especially want to reduce any barrier or friction during the payments process. Simplifying the payment process is about getting more future business. But, point-of-sale systems are incredibly expensive and clunky. There is a better way — mobile payments. Mobile payments are gaining adoption from consumers and are not a fad. This…
6 reasons to use wire transfer to collect funds from insurance assignment funds over US mail, Fed-x or ACH?
The need for speed is everywhere. Wired funds will be received the same day they are sent.
Cut off times. Wires can be sent up until about 3:45PM from Trinity Funeral Funding
Banks usually charge the same fees for ACH and Wires, Wires arrive a day earlier.
UPS and Fed-x take more time. Your check needs to be drafted and packaged; then picked up by Fed-x or UPS. Someone needs to…