Massachusetts requires funeral homes to hand you a state buyer's guide before you sign a preneed contract, and it lets you cancel within 10 days. If you are comparing that with a final expense policy, it helps to know how each one works.
The Massachusetts Division of Insurance licenses life insurance agents and carriers and handles consumer complaints. Its consumer pages cover life insurance basics, including your right to review a new policy.
A life insurance policy delivered in Massachusetts gives you at least 10 days to review it and return it for a refund of premium. The exact period is printed on the policy.
Under the rules of the Board of Registration in Embalming and Funeral Directing, you can cancel a Massachusetts preneed funeral contract within 10 days of signing for a full refund. Funeral homes must give buyers the state's Buyer's Guide to Pre-Need Funeral Contracts. A final expense policy instead pays cash to your beneficiary, who can use it with any provider.
Yes. You can cancel within 10 days of signing for a full refund, and the funeral home must give you the state's Buyer's Guide to Pre-Need Funeral Contracts.
The Massachusetts Division of Insurance.