Funeral Directors Life Insurance Company (FDLIC) is a legal-reserve life insurance company that specializes in providing prepaid funeral insurance products and services. FDLIC's mission is to be known as the best, most respected provider of service to the funeral industry.
Passare Expert Series Kickoff | Todd Carlson, FDLIC
Welcome to the Passare Expert Series, a forum where we give our panel of experts an opportunity to speak directly to you. Today we’d like to introduce Passare contributor Todd Carlson, Vice President of the Funeral Directors Life Insurance Company (FDLIC). He will advise you on how to incorporate a pre-arranged funeral into your End of Life plan.
Passare: Welcome Todd, we are pleased to have you as a Passare contributing partner. Why is a pre-arranged funeral such an important part of an estate plan?
Todd: Glad to be part of the series. When a death occurs, it rarely comes at a convenient time. Pre-planning is a way to give your loved ones guidance. It answers the one question people have on their minds when a person dies, which is, “What would mom or dad want?” It is also the one plan you can be certain you are going to use.
Passare: Can you tell us what FDLIC offers individuals looking to plan for End of Life?
Todd: We offer consumers peace-of-mind knowing they are not going to be a financial burden when they pass on. Pre-planning a funeral helps a family focus on things that really matter like creating a meaningful service that reflects the person they are commemorating. We realize contemplating mortality is not an easy thing, it can be very emotional - we understand that. Families can count on us to have an empathetic ear and handle their planning process with a great degree of skill and sensitivity.
Passare: Why should a person consider purchasing funeral insurance?
Todd: A funeral can cost anywhere from a few thousand dollars to $10,000 or more. Even if a person has life insurance, there is the process of filing the claim. A pre-paid funeral allows the funeral director to file the claim so paying the bill is easy for the family. There are also other advantages like when it comes to Medicaid planning. Pre-paid burial funds are considered exempt assets under Medicaid rules, which means your funeral investment is secure and can’t be spent on long-term care.
Passare: When is a good time to pre-arrange your funeral?
Todd: There really are no disadvantages to planning early and plenty of disadvantages to waiting. The sooner you make a plan, the easier it is to deal with other End of Life issues as they unfold. It’s important that you do it when you are of sound mind so you can find out how your family would like to pay tribute to you. And finally, it’s good to pre-pay when you can afford it. Some people may have trouble paying for a funeral if there is no plan.
Passare: What makes Passare a good resource for people planning for End of Life?
Todd: Passare is a positive voice in End of Life planning and is a great resource for connecting consumers who may not know where to go. Your network helps families find providers in their community that offer superior service. Passare gives the modern consumer a lot of options: for people who are more technology-oriented, they can make arrangements online while others who prefer to meet face-to-face, can do that too. With Passare, you can choose the setting that is right for you.
Passare: Can you share a little about what makes working for FDLIC special?
Todd: Our company is very family oriented; we truly love and care about each other. It’s a great environment that comes from an angle of caring. We really care about what we do and how we make a difference in the lives of our customers. How we do our work is equally important.
Passare: Thank you Todd. We appreciate your insights and look forward to further discussions with you about funeral planning.