There are a growing number of options available to the public today when seeking to preplan and prepay their final wishes. We can tailor a plan that's right for you. From single pay plans to monthly payments designed to meet anyone's budget concerns, our staff would be pleased to outline the choices available.
Pre-paying can protect you and your family from future inflationary trends while providing the piece of mind of knowing that they will be cared for after you are gone. Below you will find more detailed explanations of the plans that we have available. If you would like to request an appointment after you have reviewed this information, we would be pleased to have one of our staff go over any additional questions you might have.
We are currently using the New Jersey Prepaid Funeral Trust Fund, Choices program. Operated by the New Jersey State Funeral Directors Association, Inc. (NJSFDA), the trust fund is offered at more than 600 funeral firms throughout New Jersey.
Currently administering more than 51,000 consumer accounts, the trust fund has grown to more than $324.7 million in trusted accounts since its inception. In 2010, the net growth of the fund was more than $12.7 million, including interest, deposits and withdrawals. The annualized net yield to each consumer account was 3.63 percent.
All funds are deposited in a state or federally chartered bank, with each account insured by the Federal Deposit Insurance Corporation (FDIC) in the name of the purchaser up to $250,000.
The New Jersey Prepaid Funeral Trust Fund™ receives one percent (1%) of the fund’s principal sum for management, administration and overhead costs.
The New Jersey Prepaid Funeral Trust Fund™ (NJPFTF) is the state’s premier funeral preplanning funding product and has grown to be one of the largest funeral trust funds in the United States. The NJPFTF’s assets, as required by law, are fully insured by the Federal Deposit Insurance Corporation (FDIC).
All funds are invested in jumbo certificates of deposit which allow the trust to offer competitive interest rates and growth from the day of deposit. The trust fund meets all federal and state regulations for prearrangements, and also meets the requirements for SSI, Medicaid, Work First New Jersey and Work First New Jersey General Assistance resource exclusions.
The trust is managed by a knowledgeable and professional staff, a certified public accountant and a Board of Trustees made up of NJSFDA member funeral directors. Participation in the NJPFTF™ is limited to funeral directors who are members in good standing of the NJSFDA and who have agreed to abide by the high consumer protection standards set by the fund’s Board of Trustees.