As an Owner/Operator of a funeral service company, you understand the need for immediate payment of services when they are rendered. Accepting insurance assignments provides a valuable payment option for you and the families you serve. However, accepting assignments can be costly and time consuming to you and your staff. The average time to collect an assignment is between 30 to 60 days.
Unfortunately, some claims can take several months depending on the status of a death certificate with pending medical examiner and or police reports. Even 30 to 45 days to collect on an assignment can cost you hundreds of dollars in time, effort and not to mention the actual cost of your funds to finance the funeral for the time period until payment is made by the insurance company. If you are ready to get out of the funeral financing business there is a better way!
Beta’s FAST FUNDING® insurance assignment program is designed to pay your firm within 24 hours of verification of benefits. The fees can be included in the assignment and taken out of the life insurance proceeds allowing you up-front payment and no cost to your firm with no out of pocket expenses to the family.
If you are tired of the hassle, headache and cash flow delay in processing insurance death claims, we can help! WHY WAIT? Fill out the contact us form below to receive all the details today!
To start a new claim with Beta Capital, simply fill out our 'New Claim Packet' and send it to us. Even better, you can go to our awesome web portal, and enter the data, check on assignment status, and send us documents. If you have any questions, you can always call our staff at (800) 430-7935 for fast, courteous help.
We understand your time is valuable, so Beta Capital created a revolutionary online assignment funding management system. Available through any web-enabled device, our system allows you to submit and manage you claims with the push of a button. When you submit your claim online, our system will automatically prepare the necessary documents for your family to complete.
My AssignmentsThis feature allows you to closely manage all your assignment cases. You may search by the deceased’s name, assignment id, insurance company or by a start and end date. Once you select the My Assignments tab you will have four categories to choose from.
Started assignments lists claims that your firm began but has yet to complete and submit to Beta Capital. At any point while submitting a new claim you may save your entered information, store it, and return at your convenience.
Funded assignments tracks claims that have been funded to your firm but have not yet been settled by the insurance company.
Open assignments provides details on submitted claims that Beta Capital is actively processing. You may track your open assignments, communicate directly with your claims processor and view the most up-to-date status in real time. You may also attach documents directly to the file or edit the assignment, if needed, allowing you to manage every aspect of the process.
Closed assignments keeps a history of your funded claims where Beta Capital has been paid in full. Each assignment in this list shows the date the claim was closed and the amount.
All four of these features allow you to better manage, track and account for all your assignment claims in one simple, easy to use application.
New AssignmentsRather than printing forms and completing them by hand you now have the ability to submit claims directly through the online Assignment Funding Management System. Just click the New Assignment button and fill out the Online Insurance Assignment Form then Request Funding. The Document Preparation Program will automatically populate the assignment form and attach a company-specific claim form if one is required. All you have to do is print the documents and have the beneficiary sign them. As an added feature, a copy of these documents will be emailed to you.
Claim FormsFor most assignments, a claim form is not necessary for funding with Beta Capital. However, Beta Capital created the claim forms library to help you assist those families that may have other policies that are not being used for funeral services. You may search the database of more than 450 of the top insurance companies claim form and provide your families with the most up to date documents to help them file their claims. The forms are in alphabetical order by company or you may simple type the company name in the search bar to quickly access the form you need. Most forms are in a fillable format where you can enter the information directly onto the document before printing.
Upload a DocumentAfter paperwork has been signed and completed you have multiple options in getting the documents to Beta Capital. You may scan and upload them by clicking on the Upload Documents icon, sending them directly to Beta Capital through its secure online portal. There is no email that could get into the wrong hands and since this is a secure site you can rest assured the privacy of your firm and your families are protected through this option.
This feature allows you all the functionality of your Assignment Funding Management System in a mobile-friendly application. Simply log in to your account from any smartphone or tablet to submit, track, communicate and manage your claims. An additional benefit of FAST FUNDING® Mobile is the ability to take a photo of documents and upload them directly to a specific assignment eliminating the need to fax or email documents. You can see the document attached to the file giving you the peace of mind the paperwork has been received. It doesn’t get any easier than that!
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"My average sale is up since I started offering to take assignment of Life Insurance as a form of payment. I could never afford to do that if Beta Capital were not getting me paid on those so fast."
Bill A."The benefits of increased cash flow far outweigh the small fee you charge."
Ben H."I got tired of dealing with insurance companies and listening to every excuse they could find to keep my money as long as possible. Now your staff deals with the insurance companies and we get our money in days, not weeks or months."
Bob W."Beta Capital has played a major role in keeping our Accounts Receivables at ZERO. Beta’s staff is professional and courteous and always willing to go the extra mile to help."
Kevin S."We have used Beta for almost two years now, and the benefits of increased cash flow far outweigh the small service fees they charge. The fees actually amount to about your average credit card service fee and we all accept credit cards now."
Tom J."Their claim approvers are very professional and very prompt in verifying insurance information. In most cases, we are paid for the claim the same day we file it with Beta."
Cindy D."Our four funeral homes have benefited from the consistently high level of service that Beta delivers."
George S.If you are experiencing long turnaround times and unpaid bills due to your insurance assignment process, and are looking for a simpler and more profitable way to do business, we can help you.
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To all of our customers, I hope the announcement by the Department of Homeland Security that funeral directors and morticians are “critical infrastructure workers” and provide essential services gives you great confidence and pride in the work you do for our communities. Thank you. What you do is not trivial, it is not inconsequential, and it is not optional. You bring immense value to the families you serve in this even more difficult of times.
To use the Department of Homeland Security’s vernacular, that is why it is “critical” that we push forward. At Beta Capital we want you to know that will continue to support and serve you in providing this essential work to our communities. We will continue to be your partner in moving forward. We are fully open for business and have increased our capacity to help you with any cash flow needs you may have in these tumultuous times.
For the past several years we have invested heavily in our technology to ensure there is no interruption in providing you the funds you count on, even in extreme circumstance such as this. For the past week, our employees have been working remotely from home and we support a fully remote workforce without any reduction in capabilities. As we have already been providing the industry-leading service you expect from Beta Capital remotely since March 16th, we are fully prepared to continue to service your needs going forward and be in full compliance with the latest Government/State Executive Order to Shelter in Place/Close All Non-essential Businesses/Safe At Home/Etc. We would also emphasize we do not rely on any external funds or banking relationships for the money we provide.
We take seriously our social obligations to slow the spread and flatten the curve of COVID-19. The health, safety, and wellbeing of our employees and our community is our primary focus and we will continue to follow the latest guidance from the Center for Disease Control and Prevention. We are confident we can do our part to combat the crisis we are facing while continuing to support your business and the critical services you provide. Thank you for continuing to trust Beta Capital with all your assignment funding needs. Together we will overcome and recover.
Sincerely,
Your Beta Capital Family
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