When someone in your family dies, it is often naturally assumed that their funeral will be paid for by an insurance policy or a prepaid funeral plan. As many people do not plan in advance and purchase a policy or a plan, the funeral provider is often burdened with supporting the cost of the funeral services until other provisions for funding are arranged. Funeral home cash flow companies offer an excellent way to solve this problem. For those with a life insurance policy, assignment of the policy boosts the cash flow for funeral homes.
Everyone Requires Paying Quickly
Most quickly forget or never knew that providers of funeral services are businesses, although they serve a great community spirit. They are expected to purchase their stock in advance and within standard industry practice are expected to pay their bills within 30 days.
When they purchase coffins and content and all other stock associated to producing a full funeral, they are often paying for these products before the funeral is conducted.
Funeral home cash flow companies have designed specific negotiating skills with life assurance companies. This ensures that as soon as a death certificate can be delivered to the life insurance company, they will pay the money direct to the funeral provider so that the funeral bill is cleared immediately.
This vastly improves the cash flow to the funeral provider, which enables them to keep their fees as low as possible. This also means that the family of the deceased do not have to spend their initial grieving moments worrying about finances and paying for the funeral.
A shortage of cash flow is often the biggest problem that any type of business faces, but within most industries it is perfectly acceptable for the provider of the services to chase payment for their delivered goods. This is not how funeral providers work as it would be a detriment to the community if they were seen to use the courts in pursuit of payment by the recently bereaved.
Wherever possible, funeral home cash flow companies can advertise their services and help families be relieved from high levels of stress as they seek to find ways to pay for the funeral.