PreArrangement Subpage

www.OGMHognj.com
PreArrangements - Sure Trust

Ocean Grove Memorial Home
118 Main Avenue, Ocean Grove, New Jersey 07756

Thomas J. Saragusa, Manager
N. J. License No. 4036

VOICE 732-775-0434 - - OGMHognj@aol.com

Sure Trust
The Funeral Insurance Administration Trust

Sure Trust™ is a program of the New Jersey State Funeral Directors Association. It allows you to prefund funeral expenses by using EXISTING paid-up whole-life and group life insurance policies (term insurance policies do not qualify) to pay for your prearranged funeral.

How Does It Work?
You make YOUR funeral arrangements and fill out the Sure Trust™ paperwork at the funeral home, attaching the insurance policy(ies) you wish to assign to cover the cost of the funeral selected along with the required administrative fee.

A $50 non-refundable set-up fee for each policy is due with the application and, there is an administrative charge of $10 per policy per quarter, beginning in the fifth quarter after assignment, i.e., a charge of $40.00 per year to administer your policies.

When Sure Trust™ receives your application and insurance policy or policies, an account confirmation and acknowledgement is sent to you. Sure Trust™ then processes an Assignment of Ownership and Beneficiary Form on the policy changing the ownership and/or primary beneficiary. Once the ownership and beneficiary assignments are completed naming the The Funeral Insurance Administration Trust trustees, Sure Trust™ again confirms the assignment with you in writing. (You will also receive an annual statement detailing the status of your account.)

At the time of your death, Sure Trust™ processes the insurance claim and pays the funeral director for the funeral expenses with the proceeds of your insurance policy. Sure Trust™ then pays your secondary named beneficiaries any excess proceeds from your policy, minus any administration fees then-due.

If you change your mind and cancel assignment(s), you will be subject to acancellation.

Who Should Use Sure Trust™?

Those who have qualifying life insurance policies that they wish to use to fund their funeral arrangements

Those who have existing life insurance policies that would otherwise need to be surrendered during the spend-down process for SSI/Medicaid or General Assistance eligibility

Those who have no immediate family to arrange for the payment of their funeral costs from the proceeds of their whole or group life insurance.

What Are the Benefits?
With Sure Trust™ there is no need for your family to become involved in the burdensome details of processing an insurance claim. A Sure Trust™ account can be combined with a New Jersey Prepaid Funeral Trust Fund™ account, allowing you to supplement a small policy that would not otherwise cover the cost of the funeral. Sure Trust™ meets all SSI/Medicaid and General Assistance requirements, ensuring that you will not be forced to surrender insurance policies in order to qualify for assistance.

The Ocean Grove Memorial Home can assist you with Sure Trust™.

If you have aqualifying existing life insurance policy and are faced with the consideration of applying for SSI or Medicaid, you may be able to protect the values of those policies through the Sure Trust™ Program, administered by the N. J. State Funeral Directors' Association...a sister program to the NJPFTF. To cash in valuable paid-up whole life insurance policies in order to qualify for SSI or Medicaid should be your LAST resort.

If you do make an appointment to make your funeral arrangements AND you are considering the idea of prefunding those arrangements, be sure to read the Frequently Asked Questions subpage. Don't sign any contract unless you know all the answers. Click on the FAQ link below.

Links to SECONDARY PAGES in this Master PreArrangement Partition:

Organ Donation - FAQuestions - Philosophy - PrePayment - SSI/Medicaid - Trust Funds

Back to the PreArrangements MASTER Page - Site Table of Contents