Most people don’t have the funds to pay for an unexpected funeral, let alone funds to cover basic needs for the next two or three months. If the primary breadwinner of a family passes away, even if they had planned ahead and they had purchased a significant life insurance policy, those funds can take 30, 60, sometimes 90 days for the insurance company to process and payout to the beneficiary. That’s two or more months of everyday bills, mortgage, utilities, putting food on the table that this family isn’t going to have anywhere to turn. They’re not going to have those funds available.
To assist in these times of need, a service that we can provide is cash advances of life insurance policies, so we can actually fund up to the full amount of the policy directly to the funeral home or beneficiary to help the family be able to cover everyday expenses that they wouldn’t be able to otherwise.
To find out more about cash advances and what Tribute Insurance Assignments can do for your funeral home, click here.