There Are Monthly Payments for Everything Else. Why Not Funerals?

Funeral Industry News Sponsored Post December 5, 2018
LendingUSA | Funeral Care

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There Are Monthly Payments for Everything Else. Why Not Funerals?

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A funeral is unusual in that it is the only high-ticket purchase most people will have to make in their lifetime that traditionally doesn’t offer a monthly payment. Financing has become such an accepted part of buying a car, for example, that the monthly payment is often promoted to the potential customer more than the total price.

At-need financing, a new option that offers families a monthly payment plan for their funeral, exists to fill this gap, and has been steadily adopted by more funeral homes in recent years. It was pioneered by LendingUSA, the largest provider in the space and the only solution of its kind to be endorsed by the National Funeral Directors Association.

LendingUSA and other financing companies like it help funeral homes with a simple and effective payment solution – one built to provide peace of mind for families in need, and help funeral directors create more revenue for their business.

So, how does it work?

At-need financing can be completed at the point-of-sale, allowing families to apply for a funeral loan online or in the privacy of an arrangement office. There is a fast application and pre-approval process that takes only a few minutes, and the funeral home is funded quickly and directly, typically within a few days of approval.

What about those with preneed coverage? While the traditional methods of payment are still around and used by many families who were fortunate enough to plan ahead, they simply aren’t an option for everyone. Preneed coverage remains popular, but even families with some form of preneed plan find that it doesn’t always provide them with enough coverage for the funeral they wanted for their loved one.

In these cases, families can supplement their existing coverage by financing the rest of the cost, making it useful for both preneed and at-need cases. Even families who have the money upfront, or have credit cards that can cover it, can prefer the convenience that a fixed monthly payment offers.

One advantage that at-need financing has over preneed coverage is that at-need funeral loan approvals are tied to the home where the family member applied, so there’s less risk to the funeral home of being undercut by a competing home. There’s also a minimal risk of late payments, recourse, or chargebacks. Every funeral director knows how challenging it can be to discuss payment options with a grieving family. The discussion becomes even more difficult when working with an at-need family suffering an unexpected loss. With the cost of funerals ranging between $7,000 and $10,000¹, it’s clear that alternate payment methods are a critical part of operating a successful funeral home.

Hundreds of funeral homes have already discovered the benefits of offering financing – and families are ready for the option. It’s more than a “rainy day” option – it works best when it’s offered to every family that needs services.

For more information on how at-need financing can help your funeral home, request a free demo from the experts at LendingUSA.


All loans are made by Cross River Bank, a New Jersey State Chartered Bank. Member FDIC. Loan amounts range from $1,000 to $35,000. No loans are offered in Connecticut, New Hampshire, New York, West Virginia, Vermont, Puerto Rico or any other unincorporated US territory. These marketing materials are only directed to prospective merchants and not intended for consumers.