can I change a prepaid funeral arrangement to a different funeral home without penalty?

Answer 1

Dunno - depend on the terms of the contract you signed. Take a look and see what it says.

Answer 2

Usually you can. Check if the new funeral home you want to use is affiliated with the one you originally wrote the preneed contract with, if so, you will have no problem. If not, then it will be up the funeral home if they want to accept it. Usually they will want you to cancel your existing plan and write a new one with them. Sometimes, though, you can only cancel the funeral services and not the funeral goods (i.e. casket, vault, etc). Sometimes they will only give you the face value back minus 10% to cover administrative fees, if the contract was recently written. Your best source of information for your particular preneed contract would be the person/company you initially dealt with at the time. If they can't answer your specific questions, ask to speak to their supervisor.

Answer 3

Yes. You absolutely can do that. You just select the funeral home you want to transfer to. Have them look at your current selections and how you set up your funding (bank trust or increasing benefit life insurance.) If the prices are in line with what they charge they will accept it.

The original funeral home has no control over your plan. You don't even have to tell them you transfered it if you don't want to. The bank or insurance company will notify them after the transfer is already completed.

Answer 4

You usually cannot do that.