Have you ever faced a problem while handling life insurance assignments in-house?
It can be overwhelming when you don’t have enough time or resources to manage assignments effectively while you manage all your other responsibilities.
But falling behind on processing life insurance assignments for families can lead to negative accounts receivables, extra time on phone calls with insurance companies, and time away from your primary mission—serving families.
That’s why using a life insurance assignment service is so important to the health of your business and the level of care you can provide families.
Keep reading to discover 3 reasons to work with an insurance assignment company.
1. Fast funding before the funeral
Every funeral home owner understands the importance of positive cash flow for their business. We’ve talked to several funeral homes and continue to hear the same concerns regarding funding.
“Slow insurance processes keep us from receiving funding. The funeral is over, and we haven’t been paid.”
“We have to keep families waiting to know if they can pay for the funeral with insurance.”
“Insurance companies say everything is good, but they come back later and say it isn’t.”
Whether your funeral home is a small or large business, you need to get paid for your services before the funeral, not after. Working with a life insurance assignment company ensures your funeral home gets the funds it needs to stay cash flow positive and avoid unnecessary delays or rejections.
But remember, not all funding companies are created equal. Be sure to find a company that guarantees its own verification process and offers risk-free funds. That way, you can always feel confident knowing you’ll receive payment for your services and keep your cash flow moving forward!
2. Reduced workload for your staff
Picture this: You’re in the middle of processing an insurance assignment, and you get stuck on hold with an insurance company. Then, something comes up that needs your attention. You’re forced to hang up and start over again later.
Does this situation sound familiar?
It happens all the time to funeral professionals who, like you, juggle countless responsibilities. And with all those responsibilities, you certainly don’t have time to waste playing phone tag with insurance companies.
A good insurance assignment company will never let this happen. They’ll guarantee that the assignment process is fast and simple and that a team of experts is readily available to answer your questions.
Plus, whichever company you choose should be able to help your staff by completing paperwork, so you’ll know that everything is filed correctly the first time.
Ivy Hurley at Primrose Funeral Services has found that using a life insurance assignment company has been a game-changer for her and her staff.
Here’s what Ivy had to say about her experience: “CLAIMCHECK saves us time since we no longer have to follow up with insurance companies. They allow us to be funeral directors so we can focus on more important day-to-day tasks and have more time to serve families.”
Click here to read more about Primrose Funeral Services’ experience using CLAIMCHECK.
3. Happy and satisfied families
Many funeral professionals express the stress that comes from having unnecessary write-offs because their funeral home was unable to collect on a life insurance assignment. Or even worse, they had to ask a family for payment weeks or months after the funeral. It’s a conversation no funeral home wants to have.
But with the right life insurance assignment company, you and your families can have peace of mind knowing each policy is verified and processed quickly. This means you or your families won’t have to worry about how the funeral will be paid for.
Once the family learns that payment won’t be a problem, they’ll be able to think about creating a healing funeral that will properly honor the life of their loved one.
CLAIMCHECK makes life insurance assignments easier than ever.
At CLAIMCHECK, we understand that caring for your families and remaining cash flow positive are important to you and your business. That’s why we are always looking for ways to serve you, so you can better serve your families.
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On average, 85 percent of all insurance assignments we receive are processed within 3 business days.
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We’ll work on paperwork and with insurance companies, so you don’t have to. Plus, we don’t need a death certificate to get started!
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We stand behind our fully guaranteed verification process. We take on all the risk because we believe it is our duty to make sure the policy is good in the first place!
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Using CLAIMCHECK is like having an additional member of your staff committed to insurance assignments, giving you time to focus on your families.
CLAIMCHECK can do all this and more for your funeral home. Request a demo to learn more.