funeral home life insurance assignment form

How to Assign Insurance Benefits to Pay For a Funeral

Take care of funeral expenses in advance to lift the burden from loved ones.

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The price of a funeral has increased significantly since the National Funeral Directors Association began collecting statistics in 1960. Back then, the average cost of a funeral, minus the cemetery plot or crematorium fees, was $708. In 2012, that figure was closer to $7,045. Paying for a funeral can be a burden for family members, so many people choose to use a life insurance policy to secure funeral payments.

Policyholder Assigns the Payments

When you choose to assign benefits directly to a funeral home, you maintain the right to choose where your service will be held. When you name the funeral home as the beneficiary of your policy, the costs are prepaid, leaving family members with little or no responsibility for payments. As the policyholder, you make the funeral home the primary beneficiary of your policy with any proceeds left over targeted for the next beneficiary on the policy. You make this assignment through your life insurance company.

Beneficiary Assignment

A beneficiary of a life insurance policy can fill out an assignment form at the funeral home, which will allow payment of the settlement to go directly to the funeral home. Again, any money left over is given back to the beneficiaries named once the funeral expenses are settled. Typically, the forms needed for a beneficiary assignment are available through the funeral home directly or you can ask your life insurance agent to provide you with the necessary documentation.

Caveats for Assignments

Once you decide on a beneficiary, it’s up to that person to assign the life insurance proceeds over to the funeral home. If the beneficiary decides not to participate in the funeral financially, he can keep the proceeds of the payoff, so if your intention is to use your life insurance policy to pay for your funeral expenses, either make the funeral home the beneficiary or choose a trustworthy beneficiary who will follow your wishes. At the same time, use only a reputable funeral home for direct payments from your policy – one that has been around for a while and is run by an experienced family or corporation.

Pre-Pay Options

Instead of relying on an insurance policy, you can take other measures to ensure your funeral expenses will be paid for by opening a pre-paid account directly with a funeral home. The home will set up a payment plan to which you make monthly payments. While the funds will not earn interest like a money market account earmarked for final expenses, you are assured the money goes where you want it to. For example, your savings will go to your estate, which may or may not want to pay for your expenses. Additionally, your estate may get held up in court, leaving family members on the hook for paying the funeral home.

• National Funeral Directors Association: Statistics
• Paul Lane Funeral Home: FAQ

Linda Ray is an award-winning journalist with more than 20 years reporting experience. She's covered business for newspapers and magazines, including the "Greenville News," "Success Magazine" and "American City Business Journals." Ray holds a journalism degree and teaches writing, career development and an FDIC course called "Money Smart."

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How to pay for a funeral with life insurance.

Paying for a funeral can be incredibly expensive, even if it's a funeral that's expected and has been planned for in advance. Knowing what your options are when it comes time to fund the funeral can help ease your financial burden, especially if there's life insurance involved. If you're the beneficiary of a life insurance policy, here's what you need to know about how to use it (or not use it) when paying for a funeral.

How to pay a funeral home with life insurance proceeds

If you're the beneficiary of a life insurance policy, you are able to fill out what's known as "an assignment form". This form will essentially make it so that proceeds from the life insurance policy go directly to the funeral home, which they will use to settle the cost of the funeral.

Once the cost of the funeral is covered, all remaining proceeds are then returned to you (the beneficiary). Most often, the funeral home will have the documents needed in order to facilitate this but it's always important to double check with your funeral home first. If you're at all concerned, you can also check with the company who is in charge of the policy.

Here's a step by step guide:

• Contact your funeral home of choice and ask what their policies are and ask if they allow assignment of life insurance to the funeral home. If they say yes and you're working with them to handle the services of the deceased, make an appointment to go in and visit them.
• If you’re unsure about anything, check with the life insurance policy company to answer any questions you may have about your policy.
• Visit the funeral home and complete the assignment forms -- these forms will be used to allow the funeral home to cover funeral expenses straight from the life insurance policy.
• Once the funeral expenses are paid out by the policy, the rest of the funds are returned to you, the beneficiary.

As always, it's a good idea to check with a financial expert if you have any concerns or questions.

Does the beneficiary of a life insurance policy have to pay for the deceased funeral cost?

First, let's envision a scenario in which you're the beneficiary of a life insurance policy but you don't want to be responsible for the funeral expenses. Perhaps the funeral expenses are already being covered by another party or you simply do not want to cover the funeral expenses for personal reasons. Do you have to cover the funeral costs as the beneficiary of the life insurance policy?

The answer is no, you are not required to cover or pay for funeral expenses as the beneficiary of a life insurance policy. The proceeds you receive from the life insurance policy are not considered to be part of the deceased's estate and instead go directly to the stated beneficiary.

If there isn't a named beneficiary on the policy, the estate will then receive all proceeds from the life insurance policy. In this scenario, these funds could then be used to pay for funeral expenses.

Does life insurance have to pay debt?

Life insurance does not have to be used to pay debt unless it belongs to the estate (as in, no beneficiary was listed on the policy). If you're the beneficiary of a life insurance policy, you do not need to use the funds to cover the deceased's debt unless two of the following scenarios are present:

• You and the deceased have shared debt.
• You have your own debt to pay.

Technically, you're able to use life insurance proceeds as you wish, but if you have outstanding debt and creditors are trying to collect, your life insurance proceeds are considered fair game. Some states do have exemptions regarding this, so you'll want to make sure to check with a financial expert if you fall into either of these two categories.

How to reduce funeral costs

While you may be the beneficiary of a life insurance policy, that doesn't necessarily mean that you want to (or have to) spend all of your proceeds on covering funeral expenses. There are plenty of ways to reduce costs when it comes to funerals, especially if you know where to look. Here are some ways you can save on funeral expenses and lessen any financial burden:

• Buy online. Buying funeral products online can easily save you thousands of dollars. The best part is, the funeral home is required (by law!) to use whatever product you purchase, even if it's not from them.
• Only buy what you need. If you've never planned a funeral before or had to deal with funeral homes, you may feel pressured when speaking with them to purchase packages or services you're not in need of. Go in there knowing what you want and if you aren't sure, ask them to explain all of the services that will be billed separately. When you're ready, get an itemized list and pick only the services you know you need.
• Hold the services yourself. Organizing the services yourself (such as a memorial service at a church, for example), can help you avoid the fees charged by funeral homes to host the service. Read this guide on how to plan a memorial service if this is your first time.
• Opt for direct cremation or direct burial. Direct cremation and direct burial are the cheapest methods of disposition as they don't have viewings included. The body is cremated or buried almost immediately, which lets you save on funeral fees. Here's more information on direct cremation and direct burial .
• Crowdfund to cover funeral expenses. Reaching out to friends, family, and your community during your time of need can also help you cover funeral expenses. Many of your friends and family will be looking for ways to help support you and your family during such a difficult time and would be happy to help contribute to a memorial fundraiser. Set up a memorial fundraiser today to start raising money towards funeral costs.
• Apply for the Social Security Death Benefit. Social Security provides a one time death benefit to a surviving spouse or other qualified individual. You can apply for this benefit on the phone by calling 1-800-772-1213. Learn more at Social Security's website .
• Apply for VA Benefits. Veterans Affairs will help cover the cost of burial expenses and other related expenses, with the amount changing depending on the service status of the deceased and whether or not the deceased passed away in active service. You can find out more on the VA's website .
• Check with your county, city, and state for financial assistance. Many counties offer financial assistance to those who aren't able to afford funeral expenses or to other qualified individuals. Read this guide to find out if your state provides any level of assistance.
• Check with local charities or religious organizations. You may be able to find a local religious organization or non-profit that can help cover funeral costs.

Ready to start a fundraiser? Get started on Ever Loved. Funeral fundraisers on Ever Loved have been used to help thousands of families cover the full cost of their funeral by the generosity and support of their communities.

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Insurance Assignment Funding For funeral Homes

What is a life insurance assignment.

Blog // Trinity Funeral Funding // November 15, 2016 // 2 comments

The basic purpose of a life insurance policy is to create a financial windfall at the time of death. All sorts of life insurance products are available from various insurance companies to provide families with financial planning options. A life insurance assignment is a document that allows a beneficiary to transfer the ownership rights of a policy to a third party such as a funeral home or funeral assignment funding company. Transferring to that third party rights of ownership under a policy can be limited to certain costs related to burial and funeral services, or for amounts up to the value of the benefits to be paid out. The two kinds of life insurance assignments are conditional and absolute.

Assigning a life insurance policy to a Funeral Home and then a simultaneous re-assignment to a funeral funding company is very common in the event beneficiaries wish to fund or pay for funeral costs with these benefit proceeds. Assignment of an insurance policy is very useful to families who then have a known amount to spend, do not have to come up with funds out of pocket and importantly do not have to discuss between the deceased loved ones who is going to front the funds. Families also offload the pain of filling out all the required forms to the funeral director and assignment funding company. Likewise, funeral homes who are like any other small business must keep their cash flow working and oftentimes suffer from unpaid or delayed payments receive their money upfront from the funeral funding company through the assignment of insurance proceed. Thousands of families choose to utilize insurance assignments to expedite their receipt of funds and to pay for funeral costs each month. An estimated 1.6 million families use a life insurance assignment each year.

If you have questions about life insurance assignments and how to best plan burial services for yourself or you loved one, it is a good idea to sit with your funeral director to become familiar with your options. Please also visit our website at http://www.trinityfuneralfunding.com/ or call Cristina at 201-750-1117.

There are 2 comments .

Angela harden — october 3, 2018 @ 10:07 am.

do the beneficiary have to sign for on a life policy? do the beneficiary have to fill out all the paper work and then the funeral home sends it to you trinity

Trinity Funeral Funding — November 5, 2018 @ 1:42 pm

Yes, feel free to call us @201-750-1117 or contact you funeral director and they will walk you through the process step by step. It’s easy!

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Russian Company MSZ JSC

Brief profile.

active Commercial

Facts to Consider

4 more firms are registered at the address of the organization.

The organization is the founder (co-founder) of a mass media

The organization holds 16 licenses.

show 2 more positive facts

Complete Profile

• 1. General Information
• 2. Registration in the Russian Federation
• 3. Company's Activities
• 4. Legal Address
• 5. Owners, Founders of the Entity
• 6. MSZ JSC CEO
• 7. Entities Founded by Company
• 8. Company Finance
• 9. Timeline of key events
• 10. Latest Changes in the Unified State Register of Legal Entities (USRLE)

General Information

Full name of the organization: MSZ MACHINERY MANUFACTURING PLANT, JOINT-STOCK COMPANY

TIN: 5053005918

KPP: 505301001

PSRN: 1025007111491

Location: 144001, Moscow Oblast, Elektrostal, ul. Karla Marksa, 12

Line of business: Processing of nuclear fuel (OKVED code 24.46)

Organization status: Commercial, active

Form of incorporation: Non-public joint-stock companies (code 12267 according to OKOPF)

Registration in the Russian Federation

The tax authority where the legal entity is registered: Mezhraionnaia inspektsiia Federalnoi nalogovoi sluzhby №6 po Moskovskoi oblasti (inspection code – 5031). The tax authority before 08/23/2021 – Inspektsiia Federalnoi nalogovoi sluzhby po g. Elektrostali Moskovskoi oblasti (code 5053).

Registration with the Pension Fund: registration number 060055000355 dated 19 December 1991.

Registration with the Social Insurance Fund: registration number 501900175750191 dated 22 November 2000.

Company's Activities

The main activity of the organization is Processing of nuclear fuel (OKVED code 24.46).

Additionally, the organization listed the following activities:

The organization is included in the Roskomnadzor registry of registered mass media as a founder (co-founder) of the following media:

MSZ JSC holds licenses entitling to carry out the following activities:

The organization is included in the Roskomnadzor registry as a personal data processing operator .

Legal Address

MSZ JSC is registered at 144001, Moscow Oblast, Elektrostal, ul. Karla Marksa, 12. ( show on a map )

The following organization are also registered at the following address (including liquidated organizations):

• CENTRAL DESIGN AND TECHNOLOGICAL INSTITUTE JSC

The reason may be that the address’s accuracy wasn’t ascertained after the registration. Otherwise the address can be recognized as an address of mass legal entities registration.

Owners, Founders of the Entity

The list of organization’s shareholders is kept at registrar AO "NRK-R.O.S.T." .

According to the Unified State Register of Legal Entities (USRLE) the organization’s founder is (can be inconsistent with the current shareholders composition – the relevant details are available at the registrar only):

Subject to the entire chain of the current founders, the list of MSZ JSC ultimate founders is as follows:

MSZ JSC CEO

The head of the organization (a person who has the right to act on behalf of a legal entity without a power of attorney) since 10 August 2021 is general manager Bagdatev Dmitrii Nikolaevich (TIN: 505304128446).

• (general manager from 07/08/2019 until 08/10/2021 * )
• (general manager from 01/25/2011 until 07/10/2019 * )

Entities Founded by Company

Currently MSZ JSC is listed as a founder in the following organizations:

• OOO "MSZ-M" (Moscow Oblast, Elektrostal; 97.44%; 38 million RUB)
• OOO UNTS "NUKLON" PRI MGTU IM. N.E.BAUMANA (Moscow; 49%; 4.9 thousand RUB)

Previously the organization was listed as a founder in:

• ANO "KSK "KRISTALL" (Moscow Oblast, Elektrostal) - until 12/15/2021
• 1-I NPF AO (Moscow; 0.34%; 1.2 million RUB) - until 12/31/2021
• TOR "SOVET PROMYSHLENNIKOV I PREDPRINIMATELEI GORODSKOGO OKRUGA ELEKTROSTAL MOSKOVSKOI OBLASTI" (Moscow Oblast, Elektrostal) - until 12/15/2021
• AO "TVEL-STROI" (Moscow; 1.7 million RUB) - until 10/04/2021
• TSZH "ELEMASH-VOSTOK" (Moscow Oblast, Elektrostal) - until 01/01/2022

Company Finance

The Authorized capital of MSZ JSC is 1.7 billion RUB.

Until 05/25/2020 the authorized capital was 1.7 billion RUB., before 02/14/2019 – 1.6 billion RUB, before 02/13/2018 – 1.6 billion RUB

The net assets of MSZ JSC as of 12/31/2021 totaled 57.2 billion RUB.

The MSZ JSC’s operation in 2021 resulted in the profit of 1.7 billion RUB. This is by 26.6 % less than in 2020. Please note that the financial performance is given for 2021; no data available for 2023.

The organization is not subject to special taxation regimes (operates under a common regime).

The organization had no tax arrears as of 05/10/2024.

Timeline of key events

Latest changes in the unified state register of legal entities (usrle).

• 06/24/2024 . Submission of information about the registration of an individual at the place of residence.
• 05/25/2024 . Representation by the licensing authority of information about the grant of a license.
• 11/18/2023 . Representation by the licensing authority of information about the grant of a license.
• 09/07/2023 . State registration of changes made to the constituent documents of a legal entity related to changes in information about a legal entity contained in the Unified State Register of Legal Entities, based on an application.
• 06/13/2023 . Representation by the licensing authority of information about the grant of a license.
• 06/02/2023 . Representation by the licensing authority of information about the grant of a license.
• 05/12/2022 . Change of information about a legal entity contained in the Unified State Register of Legal Entities.
• 03/25/2022 . State registration of changes made to the constituent documents of a legal entity related to changes in information about a legal entity contained in the Unified State Register of Legal Entities, based on an application.
• 10/18/2021 . Submission by the licensing authority of information on the renewal of documents confirming the existence of a license (information on the renewal of a license).
• 10/01/2021 . Submission by the licensing authority of information on the renewal of documents confirming the existence of a license (information on the renewal of a license).

* The date of change in the Unified State Register of Legal Entities is shown (may be different from the actual date).

The data presented on this page have been obtained from official sources: the Unified State Register of Legal Entities (USRLE), the State Information Resource for Financial Statements, the website of the Federal Tax Service (FTS), the Ministry of Finance and the Federal State Statistics Service.

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Geographic coordinates of Elektrostal, Moscow Oblast, Russia

Coordinates of elektrostal in decimal degrees, coordinates of elektrostal in degrees and decimal minutes, utm coordinates of elektrostal, geographic coordinate systems.

WGS 84 coordinate reference system is the latest revision of the World Geodetic System, which is used in mapping and navigation, including GPS satellite navigation system (the Global Positioning System).

Geographic coordinates (latitude and longitude) define a position on the Earth’s surface. Coordinates are angular units. The canonical form of latitude and longitude representation uses degrees (°), minutes (′), and seconds (″). GPS systems widely use coordinates in degrees and decimal minutes, or in decimal degrees.

Latitude varies from −90° to 90°. The latitude of the Equator is 0°; the latitude of the South Pole is −90°; the latitude of the North Pole is 90°. Positive latitude values correspond to the geographic locations north of the Equator (abbrev. N). Negative latitude values correspond to the geographic locations south of the Equator (abbrev. S).

Longitude is counted from the prime meridian ( IERS Reference Meridian for WGS 84) and varies from −180° to 180°. Positive longitude values correspond to the geographic locations east of the prime meridian (abbrev. E). Negative longitude values correspond to the geographic locations west of the prime meridian (abbrev. W).

UTM or Universal Transverse Mercator coordinate system divides the Earth’s surface into 60 longitudinal zones. The coordinates of a location within each zone are defined as a planar coordinate pair related to the intersection of the equator and the zone’s central meridian, and measured in meters.

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Elektrostal , Moscow Oblast, Russia