Your best source for Funeral and Estate Trust Products
We are a niche IMO specializing in Final Expense Trust and Estate Trust products. We are committed to providing the best products and services to help build your Insurance Agency or solo practice.
What you’ll get
- ✓Customizable marketing support and ready-to-use materials.
- ✓Advisor-aligned guidance for seamless implementation.
- ✓Simple, transportable coverage clients understand.
- ✓Commissions up to 3X of most annuities.
Why clients need you to present the Funeral Trust Product
Nobody wants to go to a funeral home to do this, and with your help and guidance they don’t have to!
Most agents are afraid to bring up the topic! This is why it is such an underserved segment of our industry. As insurance and financial professionals we address the accumulation and distribution of wealth, protect wealth with various forms of insurance, and create wealth for survivors and future generations with annuities and insurance.
- ✓While most professionals are comfortable with addressing mortality, many are not comfortable with discussing the actual funeral.
- ✓Most methods that clients believe will pay for their funeral will not actually be available at the time of need.
- ✓The average funeral cost today is approximately $8,500.
- ✓Let’s face it, most surviving children simply don’t have a spare $8,500 in the bank! Someone is going to have to put the charges on a credit card and pay it off with high interest!
What is a Funeral Trust?
Simply, a Whole Life Policy assigned to an existing trust.
The Funeral Trust is a guaranteed issue product and can be written up to the age of 99. The simple, one-page application requires no underwriting, and premium amounts range from $1,000 – $17,500.
The Funeral Trust is nursing home and Medicaid compliant* (In most states). Even better, it is fully transportable to any funeral home. At the time of death, the funeral trust pays any funeral home that provides the services.
- ✓Guaranteed Issue
- ✓One-page application
- ✓Premiums from $1,000 – $17,500
- ✓Transportable to any funeral home
- ✓Medicaid-friendly in most states*
* Rules vary by state. Eligibility not guaranteed—consult an Elder Law Attorney.
Why a Funeral Trust is better than
a death benefit from an annuity
We often hear from agents that they “have taken care of” end of life expenses because they have provided a healthy death benefit through their choice of annuity. Let’s look:
| Benefit | Funeral Trust | Annuity | Note |
|---|---|---|---|
| Benefit Paid in 48 Hours | YES | NO | Days vs Weeks for payment |
| Excluded Asset | YES | NO | For Medicaid and SSI |
| Death Certificate Needed | NO | YES | Can take weeks to get |
| Protected from Creditors | YES | NO | |
| Better Commission | YES | NO | At age 65, 15% vs 6% |
| Income Tax Exempt | YES | NO | |
| Sets Budget | YES | NO | Avoids emotional overspending |
Annuity death benefits, and life policies, do not pay for funerals. They may reimburse a beneficiary who has paid for the funeral with some other method, but by the time the benefit is distributed the funeral has long ago happened and been paid for.
The funeral trust serves a single purpose, covering final expenses. Beneficiaries of an annuity policy can use the money however they choose. Children and other family members will argue over how much should be spent on the services and some won’t want to help at all, leaving the burden on others. A Funeral Trust offers more flexibility than a plan from a funeral home and allows the owner to set a budget and ensure their wishes are fulfilled without having to go to the funeral home.
How the policy compares to other funding methods
| Features | Funeral Trust | Annuity | Savings Account | CD | Money Market | Mutual Funds |
|---|---|---|---|---|---|---|
| Proceeds avoid probate costs | Yes | Yes | Depends | Depends | Depends | Depends |
| Federal Income Tax-free death benefits | Yes | No | No | No | No | No |
| Free of market risk | Yes | Depends | Yes | Yes | Yes | Yes |
| Principal guaranteed | Yes | Yes | Yes | Yes | Yes | Yes |
| Defined growth rate | Yes | Depends | No | Yes | No | No |
| Funds protected from creditors | Yes | No | No | No** | No | No |
| Excluded asset for Medicaid & SSI | Yes* | No | No | No** | No | No |
* After 5-year lookback period. Some states may vary on Medicaid Rules and eligibility is not guaranteed; please consult an Elder Law Attorney in your state for assistance. ** Unless put into trust for funeral expenses.
Everything you need to know in 7 minutes
About Producer’s Wealth Spring
For over 20 years, Producer's Wealth Spring, Inc. has been helping insurance agents and agencies grow their business by showing them how this under-utilized product can be seamlessly integrated into their business model.
Contact us to start doing business with the very best in the industry. You’ll be surprised by what we can do for you, your business and your clients!
- ✓Dedicated support team
- ✓Agent-first compensation
- ✓Compliance-aware guidance
Let’s talk
Ready to add Funeral & Estate Trust products to your practice? Send us a note and we’ll reach out.
Prefer email or phone? licensing@producerswealthspring.com • 330-856-9950