Comparing Funding Options

There are several opportunities that are being sold to families to help solve the funding problem when a death occurs. Let's take a look at some of the alternatives and discuss how they compare to the American Memorial Plan^®.

1. Traditional Life Insurance
Having traditional life insurance can be very reassuring. It is most often sold in larger amounts and purchased to provide security for your loved ones. Paying off a mortgage, securing funding for college and providing a lasting source of income for a spouse are most often the reasons for this type of purchase. Why take away from these benefits by spending these funds on a funeral? By putting the American Memorial Plan in place your family will be able to use proceeds from the traditional life insurance as you originally planned.

2. Savings
Savings are a wonderful thing to have. Sadly, savings are often depleted when an illness precedes a death. Savings and bank accounts can also sometimes be tied up in legal proceedings for a period of time. It is customary for a funeral service provider to require payment in full when the services are rendered. This is extra pressure for the survivors to deal with.

3. A Funeral Trust
The law in most states requires any money paid to a funeral establishment in advance of a death to be placed into an insurance policy or trust account within a specific period of time. Unfortunately, trust funds may be subject to annual taxes and your individual trust is generally not insured or protected against loss. If you die before the entire budgeted amount is paid into the account, your family will have to pay the balance owed. If you want to take this type of risk you should investigate your state laws thoroughly and understand the risks.

4. Funeral Homes
Many funeral homes sell insurance. We urge you to compare the costs of other insurance plans to the American Memorial Plan. The difference will amaze you! The monthly payments can be as much as twice the amount of our plan for the same benefit. The insurance plans that funeral directors often offer are typically designed to accept all applicants, regardless of health. Therefore, customers that could qualify for lower rates by answering a few simple health questions may end up paying much more than necessary for the same benefits. In additions, benefits are often limited for the first two years.

The American Memorial Plan eliminates the middleman, offers lower rates and returns the value to you, the customer. Your money is safe and secure. Your family can just call and we will be there when they need us.