What types of prepaid funeral benefit contracts are sold in Texas?
In Texas, a seller is permitted to sell either insurance funded contracts, (life and annuity), or trust funded contracts. There are many differences between these types including funding mechanisms, federal tax treatment, cancellation benefits, and added costs for finance charges or whole life insurance benefits. For a complete accounting of the differences, please feel free to call our office.
Related Questions
- What happens if a funeral home which sold trust funded prepaid funeral benefit contracts goes out of business or misappropriates prepaid funds?
- What happens if a funeral home which sold prepaid funeral benefit contracts goes out of business or misappropriates prepaid funds?
- What types of prepaid funeral benefit contracts are sold in Texas?
