Can I receive a refund of my prefinanced funeral agreement prior to death?
Possibly so. While there are no provisions for a refund of an irrevocable funeral trust, revocable trusts can be refunded–at 100% with interest minus any justified administrative costs of up to 1%. Insurance funded products fall within the guidelines of the Kansas Insurance Department as do all insurance products. Concerns of this kind can best be asked prior to the signing of any such agreement, and I would suggest asking so in writing.
Related Questions
- What happens should there be any money remaining from a prefinanced funeral product once death occurs and payment has been made to the funeral home?
- What if there is not enough money in the prefinanced agreement to pay for funeral costs once death occurs?
- What does "guaranteeing" a funeral by purchasing a prefinanced funeral agreement actually mean?
