Will Your Funeral Plan be thrown down he GRAVE???
Many folks in The United States of America have preneed funeral contracts. In most States if your contract is guaranteed the funeral home and the government will stand behind your guarranteed preneed insurance contract. If your contract is Non Guarranteed in most cases the funeral home or the government will NOT stand behind your contract.
As a funeral preneed consumer it is your responsibility to make sure you know the fine print of your funeral preneed contract.
This very scenario has played out in the National Prearranged Services (NPS) Scandal in Missouri last year(over 1billion dollars lost). It has also has been played out in the Illinois Funeral Directors Association Ponzi Scheme. ($59 million to 100 million lost in the IFDA Preneed Trust in 2008 and 2009 .
With the Insurance industry in a disasterous mess and the federal government bailing them out. (not all being bailed out) there is a possibility that even your life insurance policy could be thrown down the Grave!
It appears that some life insurance policies are being thrown down the grave in the UK
The best course of action is to plan your funeral but avoid preneed.
Funeral Industry blog by Your Funeral Guy.
Down the grave Pic from getty images rf
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Tags: blog, funeral, funeral industry, funerals, grave, guaranteed, ifda, Illinois, Illinois funeral directors association, industry, insurance, NPS, plan, preneed, Scandal, Trust
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