When writing about Funeral $$ it becomes easy to forget that there are faces behind those funeral dollars. The bigger the numbers the more people are involved. So how will the folks be notified of losses in the funds they prepaid for funerals?
People are terribly hurt at the time of death when they discover the prepaid funds are not there.
“There must be an effort to notify individuals of their investment’s status and exactly what will happen when funeral bills arrive.“-the State Journal Register newspaper.
“A question was asked on a blog.“John Duggan has a point, and that’s what concerns regulators in Illinois, Missouri and Texas. Who will be blamed when the consumer does not get the benefit of their preneed contract?”
The Illinois Funeral Directors Association and the Comptroller in that State say that the Funeral Home must cover the losses. But what happens to those non guaranteed policies where the folks lost money?
Many Times folks in Illinois were told not to worry about the non guaranteed policies because the IFDA was paying a good interest on their policy. Well misappropriation and abuse sent that out the window. Who will notify these folks of their losses?As reported here, in the State Journal Register and the Chicago Tribune Lynda Canger of Lake Zurich did not get notified.
Who will notify folks of their preneed losses before the time of death?
Funeral Industry Funeral Costs Blog by Your Funeral Guy