CareCap and At Need Credit Announce Alliance with Funeral Funding Leaders

By a News Reporter-Staff News Editor at Insurance Weekly News -- While it's never easy to tell customers they can't afford something, it can be downright heartbreaking for professionals working in the funeral industry. But now, thanks to a new alliance formed by five financial service organizations, those types of conversations don't have to ever occur.

That's because two of the country's leading providers of payment plans for the funeral industry, CareCap and At Need Credit, announced a strategic alliance with Security National Financial Corporation -- one of the nation's largest funders of funeral insurance through its wholly owned subsidiaries of C&J Financial (C&J), American Funeral Financial (AFF) and Funeral Funding Center (FFC). The alliance provides funeral professionals options for immediate payment by consumers using life insurance and, in the event a life insurance policy is not viable, payment plan management to facilitate funeral service payment.

"Our mission is to help families in their greatest hour of need," said Tim Wissner, CEO of CareCap. "So often paying for a loved one's funeral becomes an enormous financial burden. Partnered with ANC and Security National's fast funding group, CareCap can ease the family's stress during their time of grief by providing financial solutions for whatever they need, from insurance funding to affordable payment plans."

That's where Security National's fast funding group can be very helpful. They're staffed with experts who can relieve grieving families of the burden of having to work with insurance companies to determine what, if any, funeral expenses are covered by the policy.

"We process and fund more than 40,000 life insurance assignments annually and see many that are contestable, no longer in benefit or have exclusions that prevent them from being used for funeral expenses," said Jamie Meredith, Executive VP of C&J, AFF and FFC. "This alliance provides our funeral home clients with the opportunity to extend an additional payment solution to families with limited resources."

With At Need Credit, CareCap powers Simple Funeral Payment Plan, a cloud-based payment platform that enables funeral homes to offer in-house payment plans to families - streamlining and automating the billing and collection of payments. Funeral professionals can customize a budget-friendly payment plan with the family in a matter of two or three minutes. The Simple Funeral Payment Plan can also be used to collect and administrate funeral home accounts receivables.

"With average funeral costs now reaching upwards of $8,500, not including cemetery fees, consumers are struggling to pay funeral homes for their goods and services," said Jeff Harbeson, founder of At Need Credit. "Our combination of financial, funeral and technical professionals provide funeral directors with the technology and customer service resources they need to recover revenues and improve cash flow."

Keywords for this news article include: CareCap, Insurance Companies.

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