Pre-Need Planning

This course explores the concept of pre-need planning. By pre-planning, individuals can be assured that their last wishes are carried out, thereby removing the guesswork for surviving family members and loved ones and relieving them of what could be a significant financial burden.

The pre-need industry offers several products to help people pay for funeral arrangements prior to death, notably, final expense insurance, pre-need insurance, and pre-need trusts. This course was written to help the pre-need professional—whether an insurance producer or a funeral director—understand the unique characteristics of each of these products and how they are suited for individuals whose estates would be significantly burdened by the cost of a funeral.

Students will also learn about the varying approaches states take to regulate pre-need contracts as well as the consumer protection standards with which pre-need professionals must comply. Students will also learn why it is important that their clients have a will and other legal documents in place before death or incapacity. Finally, the course concludes with a look at the professional’s role in helping clients address their final needs and the associated issue of ethics and appropriate practice standards.

The course covers the following topics:

  • The Final Expense Dilemma
  • Pre-Need Planning Considerations
  • Funding Options
  • Other Planning Considerations