Pre Need Question

[inreverse]

If my clients Fred and Wilma, purchases two preneed contracts for services only (not casket, vault, etc) from a cut rate funeral home. Fred passes away, Wilma moves to California to be with her daughter. What value is there to the contract? Are the services for that price guaranteed anywhere or is the amount only guaranteed and can be applied to whatever her current costs are?
Newby are you out there?

 

[Newby]

If my clients Fred and Wilma, purchases two preneed contracts for services only (not casket, vault, etc) from a cut rate funeral home. Fred passes away, Wilma moves to California to be with her daughter. What value is there to the contract? Are the services for that price guaranteed anywhere or is the amount only guaranteed and can be applied to whatever her current costs are?
Newby are you out there?

The policy face amount plus annual growth can be used at any funeral home nationwide. If they want to go to a more expensive funeral home they will have to pay the difference unless the funeral home agrees to accept their "cut rate" plan as payment in full.