Funeral Industry Demise| Illinois Funeral Directors and Association in the Grave? YourFuneralGuy

8 Jan

Illinois Funeral Directors Association going to the grave soon?

Is the Illinois Funeral Directors Association  and ILLINOIS FUNERAL DIRECTORS BEING LOWERED INTO THEIR GRAVE? This not ramblings. It is reported to be happening.

One thing is for certain-The IFDA Preneed Trust Graveside Ceremony has begun. The trust is not taking on new funds. The Trustee of the Fund Merrill Lynch has pulled out. AND…..

It is now being reported that The Illinois Department of Banking has pulled the Cease and Desist order allowing Funeral Directors  and the Association to take money out of the Fund.

Good For Illinois Funeral Directors and the Association Right? NOT

The fund has declined by at least 33%.  On IFDA preneed policies -the Funeral Home needs to pay the difference if You  the CONSUMER Die.

Some Funeral Home’s have $500,000 USD or more  worth of preneed policies. In all likehood Funeral homes in the State will go under as the IFDA Trusts  value continues to decline with the Funeral Industry‘s demise in 2010.

Funeral Industry| Funeral News | Funeral Blog by Your Funeral Guy.

The overall Picture is not good news for the Average Cost of the Funeral  for Illinois In 2010.

My advice choose cremation or another alternative funeral service.

It was reported Here:

“Springfield, Ill – The Illinois Department of Financial and Professional Regulation, Division of Banking, has lifted its cease and desist order that has prevented funeral directors from transferring funds from the state’s beleaguered Preneed Trust Fund, except to pay for funerals. The Illinois Funeral Directors Association (IFDA), however, has requested a hearing to determine how much the fund is actually worth and what exactly are the ramifications for funeral directors who decide to cash out.”- Memorial Business Journal

How does this apply to Funeral Lawsuits on this matter?

How will it affect the Illinois Governors Race in 2010

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2 Responses to “Funeral Industry Demise| Illinois Funeral Directors and Association in the Grave? YourFuneralGuy”

  1. ilfd January 8, 2010 at 5:02 pm #

    I read this blog from time to time and, for the most part, it seems to report fairly accurate information regarding current goings on in the industry…although like most media, it is hyped to promote readership. Today, however, it seems the author has crossed the line from accurate to blatantly off base. To say that “some funeral homes have 500 million or more in pre-need policies” is purely fiction. The most proactive, aggressive and astute funeral home businesses in the nation might have $75 – $95 million in backlog pre-need in their files. The $500 million comment is unfortunately trying to scare consumers/readers and that is just poor journalism. Too bad. What’s next? Paying for stories???

  2. yourfuneralguy January 8, 2010 at 7:52 pm #

    You are correct. This is a typo the post should have read $500,00 USD This has been corrected. If You like you can go to Amazon.com and pay for my stories. :-)Thanks for informing me of the needed correction.

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