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Funeral
Funeral Rule Revisions: Last Chance for Comments
By Bill Stalter on
Posted in Compliance, Uncategorized
Most of industry leaders, including the NFDA, seem resigned to the reality that the Funeral Rule will be amended to require the posting of price lists on funeral home websites in some form or fashion. But the FTC extension of the comment deadline from January 3rd to January 17th indicates the Commission does value…
Funeral Rule Revisions: Mark Up on Trade Services
By Bill Stalter on
Posted in Compliance
The FTC’s second area of concern for Funeral Rule revisions is titled Crematory Fees and Additional Costs. For this post, we are going to look at Issues 16 and 17. Funeral consumer advocates are focused on the fact that many funeral homes do not own their own crematory and therefore outsource that service to…
FTC’s 40 Issues: Confirming Delivery of Price Lists to the Online Shopper
By Bill Stalter on
With Issues No. 10 through 15 of the FTC’s Funeral Rule notice, the agency begins inquiries on how to ensure the online shopper has access to all of the funeral home’s price lists before making any selections. Would it be sufficient to require the funeral home’s website to provide links for downloading the GPL (and…
FTC’s “Forty Issues” and the Funeral Rule Comment Period: Time to Get Serious
By Bill Stalter on
By a posting made November 1, the Federal Trade Commission gave formal notice of its intent to revise the Funeral Rule and opened a 60 day comment period. The notice is quite lengthy and signals that that the FTC wants major revisions to the Funeral Rule that go well beyond whether to require the posting…
Final Expense Life Insurance: Some Additional Considerations
By Bill Stalter on
Posted in Final Expense Trust, Transition Documents
CNN underscored recently posted a good article about final expense life insurance. Death care clients have been contacting us more frequently about this type of policy, and we will share some of their issues.
Funeral homes are backing away from the conventional life insurance policy for some of the same reasons. Large life insurance companies…
State Funeral Regulators: A Need for Consumer Education
By Bill Stalter on
Posted in Consumer Advocates
Two consumer groups recently issued failing grades to funeral regulators from 33 states. Taking the position that state funeral regulators have a duty to serve both professionals and consumers, The Funeral Consumer Alliance and the Consumer Federation of America worked together in evaluating each regulator’s website on the following criteria:
- The inclusion of a prominent
…
Funeral Planning in the COVID-19 Era: Access to GPLs
By Bill Stalter on
While COVID-19 reminds the most vulnerable of our population of the need for funeral planning, safety concerns may preclude following advice given by both the Death Care industry and the Federal Trade Commission: visit multiple funeral homes and request their general price lists. The FTC mandated ‘general price list’ provides an itemized description of the…
Missouri’s Exam Handbook: Reviewing All Contracts for What Purposes?
By Bill Stalter on
The newest edition of the Missouri Preneed Exam Handbook has some significant problems. The one we will discuss today is ambiguous instructions regarding the review of preneed contracts. Paragraph 13 of the Handbook’s scope of financial examination states:
13) Staff shall look at 100% of all active preneed contracts that have been sold since the…
New York Times: Can I Pre-Pay without working with a funeral home?
By Bill Stalter on
The New York Times article on funeral planning blurs the line between pre-paying and pre-funding. The savings accounts discussed by the article are one method of pre-funding funeral costs. But the POD savings account is far less secure than final expense trusts or final expense insurance policies. The concern many consumers have is that the…