Funeral Payment Options Study

Do You Prefer Families Pay for Your Goods and Services by Cash, Check, or Credit Card?

Most funeral homes and cemeteries do. It is certainly understandable since cash in hand keeps your business running smooth. Not to mention the hassle and headaches involved with insurance assignments. It is common for funeral homes and cemeteries to guide their families, consciously or unconsciously, to pay according to the preference of the business. However are you potentially capping your revenue and adding more stress on to a grieving family?

In 2024, we performed a study to see if there was a true impact regarding payment options and to measure the revenue difference per sale for families that used insurance vs. cash, check or credit card. The results were astounding!

This study encompasses 49,514 true at-need funerals from 250 funeral homes across the country. The average revenue per sales are below:
$5,065 – Cash, Check, Credit Card
$7,903 – Life Insurance Assignment

Families that used life insurance purchased $2838 more in goods and services vs. other payment methods which results in a 56% increase in revenues.

Encouraging the option of payment by life insurance not only increases revenue, it eases the financial burden of families and allows them to honor their loved one as they see fit without the worry of how they plan on paying for it.

We understand that as a funeral director, you were called to serve, not collect.

This is where C&J Financial can help.

With our insurance assignment funding and verification services we can allow you to realize these gains while decreasing your accounts receivable, increasing cash flow, streamlining the claims process to increase productivity, and allow you to stop being a bank.

As soon as the status of the insurance policy is determined and the amount of benefit is verified, payment is made to your firm.

This is typically a 24 to 48 hour process from the funding request to receipt of funds versus waiting weeks or months to receive payment.

Leave the phone calls and paperwork to us!