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IFDA Announces Pre-Paid Pet Care

Indiana Funeral Directors Association Announces

Pre-Paid Pet Care with MasterChoice® PetCare Trust Fund.

Indianapolis, IN – The Indiana Funeral Directors Association now offers its members an investment option for pre-paid pet care funds through its master trust, MasterChoice®. Believed to be the first such fund in the nation, it addresses a growing trend of pet owners to memorialize their pets more so than in past generations.

Americans spend an estimated $41 billion a year on their pets. Much of this is spent on improved medical care. Years ago, no one would have considered a root canal on a cat or cancer surgery on a dog, but that and much more is now being done on a daily basis. An increasing amount is also being spent on pet memorialization.

“We know consumers are wanting to prepay death care expenses for their pets and we know they are doing it through our members. Now our members can assure the consumer that their money is safely deposited and the member now has a safe, convenient , and proven investment option for those funds,” said IFDA Executive Director Curtis Rostad, CAE, CFSP.

MasterChoice was originally created to give funeral directors a safe and reliable place to deposit preneed funds for preneed contracts. Funds are deposited with Trustee Fifth-Third Bank of Evansville, Indiana. Hightower Services, a subsidiary of the Association, serves as administrator.

Since pet funds are generally not regulated on a state by state basis like preneed funds, funeral homes in other states can also take advantage of the PetCare Trust Fund. The contract form allows the funeral home the flexibility to offer a wide variety of services and contract options.

The Indiana Funeral Directors Association, headquartered in Indianapolis, was formed in 1880, and serves over 480 member firms. For more information on MasterChoice and IFDA, visit www.indiana-fda.org.