Revealed here are six Dangers to be considered in prepaying a Funeral. Preneed can be very dangerous the six dangers below are those that are in the nature of the beast.

If you Purchase Funeral Preneed your Money Could be stolen

The main danger is very simple. THE FUNERAL DIRECTOR RUNS OFF WITH YOUR MONEY. Those who do this are usually the leaders of a Funeral Directors Association,IFDA(59 Million dollars) or a large insurance enterprise,  NPS (National Prearranged Services-1 Billion dollars.)  Buying a  funeral or cemetery Preneed Policy has another real danger for the consumer: LAWSUIT POSSIBILITY.

The six dangers of prepaying a funeral:

1. • With some trust fund and insurance funding options there may be no refund if someone wants to cancel the plan in the future.
   • # If a purchaser moves to another state there may be no transfer options or there may be different rules governing the funding option.
   • # In some contracts, interest earnings on investments resulting in excess money not needed for the plan may be retained by the funeral home or funeral director.
   • # On installment plans interest may be charged but not credited to the account.
   • # In certain insurance funded contracts, the ownership or death benefit may be irrevocably assigned to the contract holder (funeral home), preventing the purchaser from enjoying ownership rights in the policy.
   • # In certain insurance funded contracts, a growth in the death benefit over time that exceeds the cost of the preneed plan services and goods may be pocketed by the contract holder (funeral home) instead of being refunded.-Snippet From Brazos Lawyer.

Funeral Industry| Funeral Blog by Your Funeral Guy

Technorati Tags: blog, death benefit, funeral, funeral director, funeral industry, ifda, Illinois Funeral Direstors Association, national prearranged Services, NPS, preneed, prepay, trust fund

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Tags: blog, death benefit, funeral, funeral director, funeral industry, ifda, Illinois Funeral Direstors Association, national prearranged Services, NPS, preneed, prepay, trust fund

This entry was posted on Friday, September 25th, 2009 at 5:20 am and is filed under Cemetery Preneed., Funeral preneed, IFDA Lawsuit, IFDA Lawsuit News, Illinois Funeral Directors Lawsuit, Illinois cemetery scandal. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.