What effect do the Liquidation Order and the Liquidation Plan have on pre-need contracts, insurance policies and claims?
Consumers with pre-need contractual obligations should continue to honor their obligations under the agreement. This means that if a consumer has an NPS contract or a Lincoln Memorial or Memorial Service insurance policy that requires periodic payments, the consumer should continue to make those payments in order to keep the contract or insurance policy in force and to ensure that any insurance policy is covered under the Plan. Consumers with paid-up NPS contracts or policies do not need to do anything.As described above, funeral providers should not expect to receive additional non-insurance policy compensation in the form of contract growth payment from NPS under pre-need contracts or other arrangements. Also as described above, there was a temporary hold on claims payments until the Plan went into effect on October 23, 2008. The Liquidator understands that both the absence of growth payments and the temporary hold on claims payments pose a hardship to some funeral homes, and is doin
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- What effect do the Liquidation Order and the Liquidation Plan have on pre-need contracts, insurance policies and claims?
- What effect does the Liquidation Order and Liquidation Plan have on pre-need contracts, insurance policies and claims?
