While funeral directors may have seen previous generations more prepared for the costs associated with a funeral, Americans today are struggling to save money. According to Yahoo Finance, 58% of Americans have less than $1,000 in savings, and 32% have $0. Given that the average price for a burial service is between $7,000 and $10,000, this creates a challenge for funeral homes across the U.S.
LendingUSA recently participated in a webinar with ConnectingDirectors.com CEO Ryan Thogmartin, discussing what funeral homes can do to offer families better payment options. Joined by LendingUSA’s Elaine Valdez, the two walked through the real financial challenges Americans are facing, and how funeral homes can continue to service more families and offer better payment options.
Elaine joined LendingUSA with over 14 years in the funeral industry, and she knows what funeral professionals face on a daily basis. With her years of expertise in the industry, she was able to offer real insight into how funeral directors can support families without insurance or preneed policies. Watch the webinar to learn more: