Ohio backs preneed funeral buyers with a Preneed Recovery Fund that can repay people who lose money through a seller's misconduct. Final expense insurance is regulated separately, by the Ohio Department of Insurance.
The Ohio Department of Insurance licenses life insurance agents and carriers and handles consumer complaints.
Your policy states how many days you have to review it and return it for a refund, so check that notice as soon as the policy arrives. If a new Ohio policy replaces existing life insurance, Ohio rules give you 30 days.
The Ohio Board of Embalmers and Funeral Directors administers and enforces Ohio's preneed funeral contract law and runs the Preneed Recovery Fund. A preneed contract commits money to funeral goods and services. A final expense policy pays a cash benefit your beneficiary can use however the family needs.
A fund run by the Ohio Board of Embalmers and Funeral Directors that can repay preneed funeral buyers who lose money through a seller's misconduct.
30 days. For other new policies, the review period is printed on the policy.