What does “guaranteeing” a funeral by purchasing a prefinanced funeral agreement actually mean?
Again, make sure that you understand the prefinanced contract before signing it. Usually, “guaranteeing the agreement” means that the interest generated will offset increased costs once death occurs. Even though you purchase a prefinanced funeral agreement prior to death, current prices of all merchandise and services as listed on the contract/”Statement of Funeral Goods and Services Selected” will apply at the time of death. What merchandise and services are guaranteed not to increase depends on the prefinanced funeral agreement originally signed.
