2020 showed us the importance of offering online funeral payment options. Staying safe and social distancing is a big part of it, as about 85% of consumers expect their local businesses to have more convenient communication and service options, according to Podium’s
The State of Local Business Report.
In 2021 and beyond, online payments will continue to rise. Per
the report, 8 out of 10 consumers want their local businesses to continue to offer contactless payments and other pandemic-friendly services even after the pandemic is over.
For your firm,
online payment options
can mean so much more than just credit card processing. Make 2021 the year you offer life insurance assignments as funeral payment!
Benefits of Life Insurance Assignments for Your Client Families
Only 41% of Americans would be able to afford an unexpected expense of $1,000, per
CNBC. What about the other 59%? As you know, the funeral, medical bills, memorial fund, and any other expenses after a loved one’s passing add up to much more than $1,000. To help these families give their loved ones the sendoff they deserve, they need options like life insurance assignments.
By giving families this payment option, they don’t have to:
- Drain their emergency funds.
- Take on an extensive loan.
- Rely solely on funds raised from a crowdfunding campaign.
Ultimately, life insurance assignments let families pay the expenses right away without draining their savings. It gives them peace of mind that the expenses are taken care of. So, at the end of the day, they can focus on healing instead of stressing out about the funeral payment.
Benefits of Life Insurance Assignments for Funeral Directors
By offering this payment option, your firm can grow your number of services and add another source of income. This means that the project you’ve been holding off on could be picked up again! Have you been wanting to host more
webinars? Or do you want to expand your casket collection? With that additional revenue, those dreams can become a reality.
If your firm keeps losing potential client families to the funeral home down the road, expanding your payment options can give you a leg up on your competitors. For the 59% of Americans who can’t afford an unexpected $1,000 expense, offering life insurance assignments as funeral payment may be the deciding factor in families choosing your funeral home over your competition.
The Modern Way to Process Life Insurance Assignments as Funeral Payment
Your funeral home can’t just work with any life insurance assignments company. Remember, it’s not enough to just offer multiple payment options; families want convenient online options. That’s why SRS partners with Tribute Insurance Assignments to offer
2-Minute Insurance Assignments. With our program, you can go paperless and be more mobile with an entirely electronic claim process.
But wait, it gets even better! 2-Minute Insurance Assignments is fully integrated with Procession. This means you can easily submit life insurance policies and generate forms directly in your software using the data you have already entered, so your employees aren’t wasting time with repetitive data entry.
Get your first insurance claim free! Download our
2021 Holiday Wishlist
to take advantage of this exclusive deal and many other deals on SRS products. The deals expire on January 31st, so claim them before it's too late!