Dignity memorial refund?

[TPAAgent]

Client mother paying over $200 with Dignity- been for 6 months.. just wrote her daughter and she wants me to see if I can help her get her mother a policy thats cheaper-.. will her mother be entitled to any refund from dignity after 6 months if she decides to cancel?

Thanks

 

[Baseball7]

Sounds like a funeral preneed those generally come with a one year waiting period as well.

 

[Thedude]

I'm going to guess no but that is literally just a guess I have zero idea.

 

[Life Hawk]

Client mother paying over $200 with Dignity- been for 6 months.. just wrote her daughter and she wants me to see if I can help her get her mother a policy thats cheaper-.. will her mother be entitled to any refund from dignity after 6 months if she decides to cancel?

Thanks

If it is a true pre-need attached to a policy... the answer is no, but you may be able to save a months premium depending when it went in. Do yo know here health issues?

 

[mudhound]

Nope. However, that is just a WAG

 

[Birdman300]

You should easily be able to look at the agreement and find out. I'm always honest with the client about not getting them a refund, but at the same time i always offer an alternative solution...with me as their agent. Preneed is pricey so you should have lots of options. If I had a client who told me her mother is paying $200/mo, my answer would be..."Call your mom, and tell her I'm on my way over right now. "

 

[Lawsonhj1]

Spent 25 long years with Dignity Memorial. I suggest she has them rewrite it into a flex plan straight payout no insurance protection. It still freezes the cost. Then take the savings and find her a final expense product she should be able to save big depending on her age. Math works best on pre-arranged funeral over age 75, single pays and those needing an irrevocable product for public assistance.

 

[Life Hawk]

Spent 25 long years with Dignity Memorial. I suggest she has them rewrite it into a flex plan straight payout no insurance protection. It still freezes the cost. Then take the savings and find her a final expense product she should be able to save big depending on her age. Math works best on pre-arranged funeral over age 75, single pays and those needing an irrevocable product for public assistance.

Not sure about Dignity Memorial, but on the "irrevocable product for public assistance" a simple FE plan and name some else as the owner. This keeps it from being reviewed during an asset review.