Bill
LD 867
Overview: Bill Number: LD 867, Title: An Act Regarding Pre-Need Funeral Insurance, Status: Signed by Governor, Introduced: March 04, 2025Purpose and Intent: The purpose of this bil
Overview: Bill Number: LD 867, Title: An Act Regarding Pre-Need Funeral Insurance, Status: Signed by Governor, Introduced: March 04, 2025
Purpose and Intent: The purpose of this bill is to establish new regulations and consumer protections for pre-need funeral insurance policies. The intent is to ensure that consumers who purchase these policies receive the coverage they expect and are not subject to unfair practices.
Key Provisions:
- Requires funeral homes and insurance providers to disclose all fees and costs associated with pre-need funeral insurance policies
- Prohibits funeral homes from requiring the purchase of a pre-need policy as a condition of providing services
- Mandates a 30-day cancellation period during which consumers can receive a full refund of premiums paid
- Establishes minimum standards for the investment and management of pre-need funeral insurance funds
Affected Parties and Impacts:
- Consumers purchasing pre-need funeral insurance will benefit from increased transparency and consumer protections
- Funeral homes and insurance providers will need to adapt their practices to comply with the new regulations
Procedural and Timeline Considerations: This bill has been signed into law by the Governor, and the new regulations will take effect in 6 months to allow time for implementation.
Compiled from official sources — confirm details with the bill’s official record.
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