What information must be disclosed in a preneed contract regarding payment?

In a preneed contract, it is essential to disclose the cancellation terms to protect the consumer's rights and ensure transparency. This information outlines the conditions under which a buyer can cancel the contract and any associated fees or refund policies that apply. By understanding the cancellation terms, consumers can make informed decisions about their purchase and how it may impact their future planning.

While details about guaranteed payment methods, the possibility of transferring the contract to another funeral home, and the interest accrued on payments are important considerations, the cancellation terms directly address the consumer's ability to change their mind and the financial implications of doing so. This focus on cancellation reflects a commitment to consumer protection, ensuring that individuals are aware of their rights and obligations when entering into a preneed agreement.