Here are some consumer tips for making preneed plans for your or your loved ones funeral.
•Be certain the funeral home, mortuary, cemetery, or licensed insurance producer is licensed with state as a preneed contract seller.
•Ask a family member to accompany you while making the preneed funeral arrangements.
•Ask the preneed seller for a detailed price list of services and merchandise before you select anything.
•Before signing a preneed contract, read it carefully and understand all the provisions. Ask questions.
•If you purchase a preneed funeral arrangement, you should receive a copy of the contact that explains your rights and obligations, along with a written statement of all service and merchandise that you have purchased and the price.
•The contact must clearly state how it is funded (life insurance or trust-funded) and the perms of payment.
•If you are purchasing a trust-funded product, ask how your funds are secured.
•The written contact must state under what terms you may cancel your preneed contract ad how much you will be refunded.
•The written contract is required to include to what extent the preneed seller or general provider is guaranteeing the prices of the merchandise and services you select. If the prices are not guaranteed, the preneed seller should explain who is responsible for paying additional monies that may be due at the time of the funeral.
•Thoroughly consider before accepting an irrevocable agreement (a contract that cannot be canceled). Irrevocable agreements may limit your flexibility.
•Keep a copy of your plan in a safe place. Tell a close family member or a friend that you made arrangements and where the documents are kept.
These are some ideas you should be aware of when purchasing or researching preneed arrangments for yourself or a loved one.
