Maine § 24-A §2176-A Disclosures required for sale of pre-need insurance in connection with prearranged funerals

Maine Statutes

§ 24-A §2176-A — Disclosures required for sale of pre-need insurance in connection with prearranged funerals

Maine·Title 24-A MAINE INSURANCE CODE·Ch. 23 TRADE PRACTICES AND FRAUDS

1.Definition. For purposes of this section, "pre-need insurance" means a type of life insurance policy designed to cover the costs of funeral and burial services selected in a statement of goods and services contract and for which the entire death benefit is paid directly to the funeral establishment.

2.Disclosures. At the time an application is made, and prior to accepting the applicant's initial premium or deposit for a pre-need insurance policy that is being sold in connection with a prearranged funeral service or plan as described in Title 32, section 1402, a producer shall adequately disclose the following information:

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1.
Definition.
For purposes of this section, "pre-need insurance" means a type of life insurance policy designed to cover the costs of funeral and burial services selected in a statement of goods and services contract and for which the entire death benefit is paid directly to the funeral establishment.
2.
Disclosures.
At the time an application is made, and prior to accepting the applicant's initial premium or deposit for a pre-need insurance policy that is being sold in connection with a prearranged funeral service or plan as described in Title 32, section 1402, a producer shall adequately disclose the following information:

Maine § 24-A §2176-A (Disclosures required for sale of pre-need insurance in connection with prearranged funerals) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.