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Homesteaders Provides New Option To Address Shortfalls

July 6, 2014

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Homesteaders Provides New Option To Address Shortfalls

Des Moines, Iowa — Homesteaders Life Company, a national leader in pre-need funeral funding, has introduced Security Option Plus, a new product feature that can help reduce the amount and frequency of shortfalls on insurance-funded prearranged funerals. This unique product feature is designed to provide additional protection for Homesteaders’ funeral home customers and the families they serve.

“Security Option Plus addresses one of funeral home owners’ top challenges: shortfalls on prearranged funeral funds at the time of need,” said President-CEO Steve Lang. “With Security Option Plus, funeral home owners can more confidently guarantee the coverage of prearranged funeral expenses. It’s a smart addition to Homesteaders’ comprehensive portfolio of product features for funeral home owners.”

Available exclusively from Homesteaders, Security Option Plus increases the initial face amount of the insurance policy. Policy growth is applied to the increased face amount, providing further protection for the funeral home and allowing it to continue to offer valuable guarantee protection to families.

“We recognize the concerns many funeral home owners have about guaranteeing advance funeral plans, and in response we developed Security Option Plus to provide customers with the additional protection they deserve,” said Executive VP-Sales and Service Lyndon Peterson. “Funeral home owners and managers turn to Homesteaders for secure funding solutions, and we aim to exceed their expectations by offering a choice not currently available in the market.”

Security Option Plus is now available in Alabama, Arizona, Arkansas, Colorado, Iowa, Illinois, Kentucky, Missouri and Wisconsin, and additional states will be added in the coming months.

Homesteaders has also developed a tool to help funeral home owners project future funeral costs resulting from inflation. This may be useful to firms that wish to charge a separate fee on guaranteed funerals where allowable by law.

Homesteaders Life Company is focused solely on funeral insurance funding and support and according to a recent brand study conducted by Homesteaders, is the most often used pre-need funding provider among nationally recognized competitors. Visit homesteaderslife.com to learn more.