TD Canada Trust's Prepaid Funeral Deposit Account is a commercial account designed specifically for funeral homes, cemeteries and mausoleums that offer pre-arranged and prepaid services to their customers. Funds are invested in Guaranteed Investment Certificates (GICs) by funeral homes in trust on behalf of individuals who have prepaid their funeral and related services. TD Canada Trust's Prepaid Services administers the trust funds for these pre-arrangements and provides detailed reporting to help funeral homes and cemeteries maintain their records.
The Benefits of a Prepaid Funeral Deposit Account:
- Reduction of Administration:detailed monthly and annual reporting is provided in order to satisfy the funeral home's accounting and regulatory requirements
- Flexibility: the GICs can be invested for terms of 1 to 5 years and multiple certificates for an individual purchaser can be held within one plan
- Cost Effective: no charge to the funeral home for this account
Features
- 24 hour deposits at any TD Green Machine
- toll-free hotline staffed by knowledgeable specialists
- complementary brochures promoting the benefits of pre-arranging
- term deposits are pre-encashable upon death or cancellation without penalty
- complete T5 reporting
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