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New Affirmations on the Death, a Dying of Preneed- Your Funeral Guy

15 Mar
Traditional Preneed has appeared to have an abrupt death due to decapitation in 2008 Too much time on the unsafe teeter totter of funeral director greed.

Traditional Preneed has appeared to have an abrupt death due to decapitation in 2008 Too much time on the unsafe teeter totter of death-funeral director greed.

Breaking News-March 15- The Chicago Tribune gave some   new affirmations to the death and dying of  preneed or prepaid funerals. As the death of  preneed continues the average cost of a funeral will go down.

In a post on March 10( “IFDA SPEAKER says Preneed is terminal,it will die.) I stated that preneed will die or be dead by January1st 2010.

The Tribune Article came up with statements by  funeral directors and several experts who stated preneed was no longer profitable for the funeral director.

‘David Nixon, an Illinois financial consultant to funeral homes…..The (IFDA) debacle has given Nixon more reason to advise Illinois funeral directors to stop selling guaranteed funeral contracts. “It really doesn’t make sense in the long run to guarantee things that are beyond your control,” he said.’

“In Rockland, Mass., Robert Biggins stopped offering guaranteed contracts six months ago at his funeral home. Some funeral costs increase by more than 5 percent a year, but banks are not paying that much for deposits, said Biggins, past president of the National Funeral Directors Association.

Also quoted was Bonnie McCullough, executive director of the New York State Funeral Directors Association. She said  ” We’re in unprecedented times right now,” she said. “Can you guarantee what something is going to cost 15 years from now?”

The main reason over the years that Funeral Directors collected and hung on to large numbers of preneed policies was they received the interest on the folks money. Large Funeral Homes and funeral groups, corporate funeral homes, in actuality  during many years received more money in preneed commissions than they did from doing funerals each year!  Just like Wall Street it all came down to greed.

The evidence for this also comes from the two big Funeral Corporations, Service Corporation and Stewart Enterprises who showed extensive losses in  their cemetery preneed in there last financial reports.

This  was  a bubble for funeral directors and  it gave funeral home owners lots of dollars.  Like all bubbles this one has burst.

Traditional Preneed in effect was decapitated in 2008 by the economic down turn, the NPS and the IFDA scandals. In spite of efforts to reattach the head, it cannot be done.

Thanks to the Chicago Tribune for some affirmations on the death of preneed.

Thanks to the Chicago Tribune for some affirmations on the death of preneed.

Your Funeral Guy thanks the Chicago Tribune for the affirmations on the Death and dying of preneed, or prepaid funerals.

Funeral Industry| Funeral Cost blog by Your Funeral Guy, R.Brian Burkhardt

Sources :The Chicago Tribune Article here and the research and funeral experience of your funeral guy.

Decapitation picture from flicker creative commons license from Old Scool’s Photo stream


Revealed “Tip of the Iceberg” IFDA Scandal-Your Funeral Guy

15 Mar
The IFDA scandal is the tip of the iceberg of bigger scams.

The IFDA scandal is the tip of the iceberg of bigger scams.

Here is The “Tip of the Iceberg” on the IFDA  Scandal. The license suspension of  Merrill Lynch Employee who sold Key Guy Insurance to the IFDA  shows that the IFDA Scandal is only a small part of a bigger swindle.. This  not good news for the funeral industry, prepaid funerals(preneed) and funeral costs.

The loss of integrity and TRUST by the IFDA is bad enough. There is more.

Merrill Lynch(MLBT) has lost integrity and trust with Wall Street and the American people. So  has the new owner of Merrill Lynch- Bank of America (BOFA). Both have received massive funding from the US Treasury.

Both MLBT and BOFA are under Federal Investigation, and there are signs that the IFDA ( Illinois Funeral Directors Association)and possibly Regulators in Illinois  are being investigated by enforcing agencies.

So we have scandalIFDA” on top of  scandal “Merrill Lynch” on top of scandal Bank of America.

The Merrill Lynch individual salesman’s License is only a small ice chunk on the  tip of the iceberg. Many investigations are going on by the media ( state,local and national) and State and Federal  Enforcing Agencies.

The significant line  the Chicago Tribune article is this: ” insurance policies was “unsuitable” for the trust and violated state securities laws.” The  Friday the 13th Trib Article” shows that in Illinois that the Secretary of State, the Comptroller, and the Department of Financial Regulation are all investigating.

We know the Senator Burris (D-IL) mess and  Impeached Governor Blagojevich are under the tip of the iceberg with “THE REST OF THE STORY” as well. These two  highly PUBLIC Investigations are connected to the IFDA Funeral Mess.

Time will tell us what is  ALL under the water.

Funeral Industry| Funeral Costs Blog by R.Brian Burkhardt Your Funeral Guy.

The two excellent sources here are.

Chicago Tribune article of Friday the 13th of March 2009.

The Springfield Journal Register article of March 11th 2009.