The Beneficiary Liquidity Plan Series. Are There Families Who Cannot Pay?

The Beneficiary Liquidity Plan Series 

Are There Families Who Cannot Pay?

According to Phil Graham, Founder of The Beneficiary Liquidity Plan, sometimes, there is no one to pay for the funeral expenses. Perhaps the parent that passed away had money, but their children do not. Or, the children do not want to volunteer to pay even if they do have money. In rare cases, there is no family at all and a neighbor is the one left coordinating the final arrangements.

What Solutions Are Available? 

Some families must resort to the Department of Human Services. No one is excited about this solution and it also limits what services are available to the family. There are short-term loan businesses that offer funeral assistance, usually at a high interest rate. Funeral homes are less likely to accept the collateral assignment of an insurance policy, however there are third-party business that will for a fee, of course.