October 22, 2004, Newsletter Issue #90: What is Pre need all about?

Tip of the Week

Many states have different laws when it comes to funeral services and purchases. --example--All pre-need contracts sold in Illinois must contain disclosures to assist consumers in their purchase of pre-need services and merchandise. Required disclosures include: a clear identification of the seller`s name and address, the purchaser and the beneficiary; a complete description of the goods and/or services purchased; clear notice as to whether the contract is for a guaranteed or non-guaranteed price; how the consumer will pay for the services and/or merchandise (i.e. trust account, life insurance policy or annuity, etc.); and the cancellation and penalty policy of the seller."--end quote-- Yet, you still need more information. Is there any penalty if you choose to move? If you substitute a casket or other product when it is at need?
Does it cover everything indeed??--copy--"A common scenario: Mom and Dad bought cemetery plots years ago and -- unaware that there were other burial-related expenses -- told their children that "everything is taken care of." But their children learn while making funeral arrangements that the prepaid plot does not include a marker, a grave liner (or vault), and opening and closing costs, and they now have little choice but to pay whatever the cemetery demands. The "extras" often come to $3,000 or more"
Most of all, there may be better ways to pay for the last rites arrangements.

"Death is nothing else but going home to God, the bond of love will be unbroken for all eternity."
Mother Teresa
See our company A Team Masters for more information.

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