Preneed or Prepaid Funerals go by many names such as End of life insurance, funeral insurance, preneed, prepaid funerals etc. The National Prearranged Services(NPS) Funeral Scam, the IFDA(Illinois Funreral Directors Association) Preneed Trust Funeral Scam, and Weekly incidents of funeral directors running off with the folks funeral money has all contributed to this development
Snippet From the WSJ.
Now, in the wake of recent allegations of fraud and mismanagement in this multibillion-dollar industry, state and federal lawmakers are trying to crack down on abuses in so-called prepaid funeral plans.
“Consumer advocates have been urging states to enact stricter regulations of prepaid plans for years,” says Sally Hurme, a senior project manager who specializes in consumer education at AARP, the Washington-based advocacy group. “This is a step in the right direction.”
This should shoot an arrow in the heart of those who have have participated in preneed irregularities, fraud and scams
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