North Carolina requires every preneed funeral contract to be signed by a licensed funeral director or funeral service licensee. That is one of several ways a preneed plan differs from final expense insurance, which the Department of Insurance regulates.
The North Carolina Department of Insurance (NCDOI) licenses life insurance agents and carriers and handles consumer complaints. NCDOI also publishes a life insurance FAQ for consumers.
North Carolina gives you at least 10 days to review a new life insurance policy and return it for a refund. If the policy replaces existing coverage, you have 20 days.
No one may sell preneed funeral contracts in North Carolina without a license from the North Carolina Board of Funeral Service, and every preneed contract must be signed by a licensed funeral director or funeral service licensee. A final expense policy is life insurance: it pays cash to your beneficiary, not to a specific funeral home.
20 days. Other new life policies carry a free-look period of at least 10 days.
The North Carolina Board of Funeral Service. Life insurance agents are licensed by the North Carolina Department of Insurance.