bill88000
New Member
I think it was an even $10,000.
First FE Client Dies Within First Year!
- Thread starter Justin Bilyj
- Start date
- 117
I have not had one die in the first two years yet, but If they do, what actually happens when the family takes the policy to the funeral home? Does the family need to make other financial arrangements as a contingency plan?
Thanks,
SD
Thanks,
SD
bill88000
New Member
I don't know. but No Funeral Director can afford to wait too long if there's a legit insurability question being contested. My guess is that the family unless they have a very strong relationship with the funeral director, will get a bill fairly quickly.
- 17,077
Most funeral homes now will require payment in full before the funeral takes place. If the family wants to pay with life insurance the funeral home will assign the policy to a funeral funding company like ForeThought. If the policy is contestable, ForeThought will not accept the assignment and the funeral home will require a different method of payment.
So having contestable life insurance is the same as having no life insurance with most funeral homes.
Just curious.. Funeral home is called to pick up a body at the hospital. I assume they will answer the call and transport the body to the home.. They learn there is no one willing to pay the bill, Then what?
- 19,667
I knew of one here where the funeral home would not to the hospital to pick up the body until they payment arrangements were made. This was on a lady that had no life insurance.
- 17,077
Occasionally they get stuck with a body. Then it's a waiting game. Usually the funeral director will know their client base of families pretty well and will definitely make judgement calls. They won't remove the body with out a responsible family member financially obligating themself with signatures.
I know of one case 4-years ago where a man had been dead in his home several days when he was discovered. The coroner and the funeral director just guesstimated which day was the death date and put that on their forms and applied for death certificates.
Murphy's law kicked in and the date they had chosen turned out to be 1year and 364 days after the effective date of the MAN's life insurance policy. If they would have put one day later, it would have been non-contestable. The funeral home was willing to cremate and take their chances of getting paid but the family wouldn't go for it. It was a waiting game between the family, the insurance company and the funeral home. The body sat in storage for 2.5 months before the insurance company decided they would pay the claim.
They finally buried the poor guy.
If you want to know what a body in storage is like after 2.5 months all you need to do is go buy 200lbs of fresh steak and sit them in your garage for a couple months to find out.
Occasionally they get stuck with a body. Then it's a waiting game. Usually the funeral director will know their client base of families pretty well and will definitely make judgement calls. They won't remove the body with out a responsible family member financially obligating themself with signatures.
I know of one case 4-years ago where a man had been dead in his home several days when he was discovered. The coroner and the funeral director just guesstimated which day was the death date and put that on their forms and applied for death certificates.
Murphy's law kicked in and the date they had chosen turned out to be 1year and 364 days after the effective date of the MAN's life insurance policy. If they would have put one day later, it would have been non-contestable. The funeral home was willing to cremate and take their chances of getting paid but the family wouldn't go for it. It was a waiting game between the family, the insurance company and the funeral home. The body sat in storage for 2.5 months before the insurance company decided they would pay the claim.
They finally buried the poor guy.
If you want to know what a body in storage is like after 2.5 months all you need to do is go buy 200lbs of fresh steak and sit them in your garage for a couple months to find out.[/QUOTE]
I'll pass......
- 117
Thanks for the great reply Newby! I hope to start pushing some 5 Star your way.
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