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Your Funeral Guy: Merrill Lynch Employee who sold IFDA Ponzi Policies license suspend

12 Mar
Springfield, IL states IFDA Trust Investment adviser license is suspended.

Springfield, IL Newspaper states IFDA Trust Investment adviser license is suspended. It appears that investigators are getting close to those responsible for this scandal.

The Illinois Funeral Directors Association lost 59 million dollars in an alleged Ponzi Scheme. Now the Merrill Lynch Employee who sold a large portion of the three hundred key guy life insurance policies has had his license suspended. This was done by the Secretary of State of the State of Illinois.

The investigation into the preneed scam is continuing.  The Lesson for the average person is you should not purchase “preneed” to pay for funeral cost!

According to The State Journal Register  Newspaper in Springfield, Il:

“The Illinois secretary of state’s office has suspended the license of a Merrill Lynch employee who sold life insurance policies to finance a pre-need funeral trust fund that is in deep financial trouble.

The secretary of state says Edward Louis Schainker, a Merrill Lynch investment adviser and salesman, broke state law when he sold hundreds of policies to the Illinois Funeral Directors Association.”

The more important question is DID THE IFDA BREAK STATE LAW IN PURCHASING THE POLICIES AND USING THEM TO FINANCE THE IFDA PRENEED TRUST?

This is the question yet to be answered.

It does appear that investigators are getting close to those who are at the source of the IFDA Ponzi Scam.

Funeral Industry| Funeral Cost blog by Your Funeral Guy.

Source State Journal Register Article: “Investment Advisor for funeral Trust has licensce suspended.”

How to Stay Below Average Funeral Cost-Rent The Casket-Your Funeral Guy

12 Mar

One way to stay under the average cost of a funeral and have a low cost funeral is to rent the casket. This is an option that folks have employed in good times and bad to have  lower funeral cost.

Your Funeral Guy has some experience with this- most excellent caskets run well above $2000 USD. Even in expensive funeral homes a casket can be rented for a funeral traditional  for $1000.00 USD.

Renting a casket in most cases means there is a cremation afterwards. A traditional service does not have to be had at a funeral home when had at a funeral home. In fact you can have the service at church or a community center.

In this case you  cutting out the cemetery and having a funeral service. It is the opposit of the low cost option of having the service at the cemetery and cutting out the funeral service.

The strategy employed here will require the purchase of an urn.

Funeral Industry -Funeral Cost Blog by your Funeral Guy.

If you want more information on coming under the average cost of a funeral visit yourfuneralguy.com

Source-the life and funeral experience of Your Funeral Guy