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Preneed Contracts, White out, Lawsuits| Close Funeral Home-YourFunreralGuy

15 Jul iStock_000000285900XSmall-300x225

National Prearranged Services Preneed Contracts, and the NPS National Prearranged Lawsuit has closed down a Funeral Home. The Main tool in this fraud was white out. It’s all about Mount Washington National Forever Funeral Home in Independence, MO.

It is very interesting to note that the NPS, National Prearranged Funeral Scandal all had to do with a bottle of White OUT! Read more on that  by clicking here:

Although the lawsuit is for 600 Million USD estimates of the NPS Scam

The funeral home was receiving no money to try and fund pre-need contracts that families had with a company previously managing the home, said Duke Radovich, chief executive officer of Charter.

Pre-need burial and funeral services involve a pre-payment by the customer in exchange for the promise that funeral services will be provided at no further cost when the customer dies.

National Prearranged Services went to different funeral homes, offering to sell prearranged funeral services and to manage the money from the pre-need contracts.

The problem was that National Prearranged Services was sued in federal court for $600 million, alleging the company preyed on consumers and funeral homes to perpetuate a multi-million dollar, nationwide scheme from the sale of pre-need contracts.

The suit looks to recover costs expended by plaintiffs and seven state insurance guaranty companies.

via www.examiner.net

Funeral Industry, Funeral News Funeral Blog by Your Funeral Guy

Another Funeral Scandal Indictment(NPS)-YourFuneralGuy

16 Oct

National Prearranged  Services pulled off their frauds with Life Insurance policies.

National Prearranged Services pulled off their frauds with Life Insurance policies.

The National Prearranged Services Scam, will cost between 600 million and 1.6 billion dollars according to different estimates. It is by far the largest funeral Scam in the nations history.The indictments will continue finding their way to the founding Cassidy Family(owners). This preneed insurance  scandal went on for decades.

The tragedy here is three fold. 1)Funeral directors have to complete paperwork to get paid for these contracts from State Assurance Guaranty Agencies. Sometimes the reimbursement is not complete. 2)This is a massive taxpayer expense to pay on these contracts. These Costs get passed on to the consumer and the cost of traditional Funerals is raised.

And (3) The distrust of Funeral Directors and the Funeral Industry multiplies exponentially.

From St. Louis:

In August, NPS chief financial officer and director Randall Sutton, 63, of Chesterfield, was indicted on mail fraud, money laundering, and wire fraud charges.

Thursday, Sharon Nekol Province, 65 of Ballwin, was charged in a superseding indictment with five felony counts of mail fraud.

Province was president and office manager of NPS and held a position with an affiliated company.

NPS marketed the prepaid contracts as a way for consumers to ensure that they would not burden heirs with the cost of their funerals. The price they paid for a contract was used to fund a life insurance policy that would pay the actual funeral costs. But the indictment says that company executives and others knew as far back as 1998 that the anticipated costs were exceeding the anticipated insurance income by $98 million.

via www.stltoday.com

Funeral Industry|Funeral blog by Your Funeral Guy.

Medical Science delaying Baby Boomer Funerals-Your Funeral Guy

8 Sep

Medical Science is hollding back the Funerals of Baby Boomers

Medical Science is hollding back the Funerals of Baby Boomers

Medical Science is holding up Baby Boomer Funerals and an explosion of Business for the Funeral Industry. Because of the recession interest in Funeral Service is up 20% according to Mortuary schools. The cremation rate for 2009 has jumped to 38% nationwide.

Many folks are leaving their traditional jobs thinking they are entering a recession proof business called funeral service. Cremation sales are up and traditional sales are down. It is not the number of Sales that are down but the amount of Funeral Goods and Services  people are buying.

From Bakersfield.com

“To the funeral industry, the deaths of baby boomers – people born between 1946 and 1964 – is a windfall worth lusting over. But first, the industry must survive the current “death trough,” the decline in death caused by advances in medical science, among other things.

According to federal agencies that track population and health statistics, the nation’s death rate has dipped slightly and is expected to be “stagnant” for several more years.”

The Funeral business is hurting and anyone who suggests you will have a new  profitable career there is lying. Preneed Sales or prearrangement sales are down 50% (according to the NFDA)and the industry is tarnished by Scandal(IFDA,NPS, Neptune Society, SCI).

Yes Medical Science is holding back baby boomer funerals, but the funeral industry will have to adjust before wind fall profits arrive.

Funeral industry|Funeral blog by your funeral guy.

National Prearranged Services 600 mil. Funeral lawsuit-Yourfuneralguy

7 Aug

iStock_000003488156XSmallThe owners of National Prearranged Services (NPS) are facing  a Federal  Lawsuit for 600 million dollars.  The 150,000  funeral accounts are estimated to be worth over 1 billion dollars. The Cassity family based in Missouri were the owners of National Prearranged Services.

State Insurance Guarranty Programs have been paying for these funerals. The lawsuit wants recovery of  funds spent by seven states  paying for the funerals through insurance guaranty, including Illinois and Missouri.

The Missouri Scandal is perhaps the largest pre-need, prepaid, pre-arrangement  insurance scams in the United States.

More on this here:

Funeral Guy Used White Out in multimilion$$ Funeral Crime-YourFuneralGuy

It serves as a strong warning to the consumer: Do not pay for a funeral in advance. This scandal alone is reason not to have peace of mind about it.

This will help you come in under the average cost of a funeral.

From stltoday.com

“A federal lawsuit was filed alleging the Cassity family of St. Louis “preyed on consumers and funeral homes to perpetuate a multimillion-dollar, nationwide scheme from the sale of ‘pre-need’ funeral services and merchandise.”

The suit seeks to recover costs expended by the plaintiffs — seven state insurance guaranty companies, including in Missouri and Illinois, which have stepped into the void to honor most of the pre-need contracts.”

Funeral industry|Funeral Blog by Your Funeral Guy

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