What is the likelihood that Memorial or Lincoln will pay the promised insurance policy benefits to funeral home providers or Texas consumers?
Memorial and Lincoln are paying death benefits under policies. If Memorial and Lincoln encounter severe financial problems and are liquidated, the insurance guaranty association will pay benefits under policies that are in-force at the time the death or surrender occurs. Many consumers and funeral homes assigned their benefits under the insurance policies to NPS. In order to ensure that benefits reach the funeral home as quickly and as directly as possible, Memorial and Lincoln are working on having the benefits re-assigned to consumers and funeral homes. The assignments do not currently present major issues for consumers because NPS and Memorial are currently being managed together. Consumers will be updated promptly should events change which may affect these assignments.
- What is the likelihood that Memorial or Lincoln will pay the promised insurance policy benefits to funeral home providers or Texas consumers?
- If NPS cannot pay a funeral home the promised growth, is the funeral home still required to honor the PFC?
- Are you the owner of Westhaven Memorial Funeral Home Utica Branch?