SB679:

Life insurance or annuity preneed funeral contract; requirements.

Bill Summary:

Board of Funeral Directors and Embalmers; life insurance or annuity preneed funeral contract requirements. Provides that the face amount of any life insurance policy issued to fund a preneed funeral contract shall not be decreased over the life of the life insurance policy except where such policies have lapsed due to nonpayment of premiums or have gone to a nonforfeiture option that lowers the face amount as allowed for in the provisions of the policy.