Funeral Directors Life is raising its growth rates for the second consecutive time this year for all new business done through its preneed product offerings, according to a news release. On average, the growth rate will increase by 0.5% or 50 basis points. The increase will be applied to all new business with an effective date of Oct. 1, 2023.
“When we implemented the first growth rate increase in January, we committed to continue tracking trends in the interest rate environment and making adjustments we felt were sustainable,” said Kris Seale, president and CEO of Funeral Directors Life. “We are pleased to now be able to increase our growth rates once again.”
Funeral Directors Life was the first preneed company to make a move to increase growth rates at the beginning of the year, and now the company is leading the way to raise rates for a second time.
“We want our customers to benefit from growth rates that are as strong and competitive as possible, given the interest rate environment,” said Seale. “At FDL, we are committed to being the ‘best, most-respected provider of service to the funeral profession,’ and this is just one way that we are fulfilling that mission.”
With multiple options for preneed products, funeral home clients can choose the product that best fits their business goals. In addition, they can benefit from Funeral Directors Life’s full-service approach that drives growth, including marketing services, financial services, sales services, and accounting services, all under one roof.
“We want to help funeral professionals with services that they find valuable, and that goes beyond offering excellent preneed products,” added Seale. “Our overall goal is to help funeral directors save time so they can focus on doing what only they can do: serving families in their time of need.”
The new growth rate will be applied automatically to new business for Funeral Directors Life clients beginning in October. To get started with Funeral Directors Life, funeral professionals can reach out to their Funeral Directors Life representative to discuss which product offerings suit them best or request a free business consultation.