In 1993, Pekin Life Insurance Company began marketing life insurance through funeral homes. Today, we have over 450 funeral homes who use our Pathway® products in Arizona, Illinois, Indiana, Iowa, Michigan, Minnesota, Nebraska, Ohio, Pennsylvania, Virginia, and Wisconsin.
When a person decides to prearrange and prepay funeral expenses, the funeral director is required by law to place the money in “trust.“ This ensures the family will know in their time of need that there will be money set aside to take care of paying for their loved one’s funeral. Pre-need insurance is used for this purpose. This specialized insurance gives funeral directors a method to use the money given to them in advance as a payment towards the purchase of insurance. At death, the life insurance proceeds are used to pay for the funeral service.
A funeral is probably the last thing you or your family want to think about today, but the stress can be overwhelming when making decisions regarding the specific wishes of a departed loved one. Planning ahead by purchasing a prepaid funeral plan will make a difficult time much easier for your family and will give you the peace of mind that comes from knowing that your wishes have been made clear. An additional advantage of prearrangement is that it protects assets during long-term care or illness. By providing funeral guidance and perhaps funding, you will be removing a great burden from those you love.