West Des Moines, Iowa — Homesteaders Life Company, a national leader in preneed funeral funding, has announced an upcoming growth rate increase of an average 30 basis points for all new business.
“We’re pleased to be able to offer this growth rate increase for the benefit of our funeral home customers, who rely on Homesteaders to provide safe, secure funding for advance funeral plans,” said Steve Shaffer, Homesteaders President, CEO and Board Chair. “Based upon strategic investment decisions made over the last several years, and in conjunction with the increasing interest rate environment, we are thrilled to now offer higher growth rates on our new policies and remain in a strong position to continue to be long-term partners to our funeral home customers, agents and policy holders.”
“Homesteaders has a disciplined approach to our financial planning, and we carefully assess how our decisions will impact not just our company but also the customers we serve, in both the long and short term, ” said Homesteaders Senior VP-Chief Actuary Tom Doruska. “This move allows us to enhance our already competitive offerings while maintaining focus on our company’s continued long term financial strength.”
In addition to an ongoing commitment to reliable funding and products that meet funeral home customers’ needs, Homesteaders has made several key investments in recent years in new technology and value-added services to help funeral home owners and managers proactively meet the changing needs of client families and more effectively share the benefits of advance funeral planning with more people in their communities.
“As a loyal partner and leader in the profession, we’re committed to continuing our innovative technology, exclusive loyalty programs and groundbreaking services and systems that introduce new opportunities for our customers,” said Shaffer. “We’re very proud to have earned the trust of so many funeral professionals across the country and will continue to improve solutions that empower them to help more families design a better farewell. Being able to access new, effective tools in conjunction with such a significant growth increase and our very valuable casket protection (in this time of higher inflation) and other programs are a win for funeral homes.”
The new growth rates will take effect on all new business issued after March 14, 2023.
Homesteaders Life Company, a mutual company owned by its policy holders, is a national leader providing products and services to help people design a better farewell. Visit homesteaderslife.com to learn more.