Overview
This course provides a comprehensive overview of how pre-need contracts are regulated in Maryland, covering who can sell them, required provisions, escrow or trust account requirements, sellers’ disclosure obligations, and buyers’ termination rights. It also discusses using life insurance and annuity contracts to fund pre-need contracts and the creation of irrevocable trusts, meeting Maryland’s one-hour pre-need law mandatory course requirement.
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License or Certification
Regulator
Type
Learning Objectives
- List the licensees permitted to provide services or merchandise under pre-need contracts in Maryland
- State the terms that must be included in a pre-need contract
- Explain the requirements for depositing pre-need contract payments into trust accounts
- Discuss what happens when a pre-need contract terminates
- Recognize when an irrevocable trust can be used in connection with a pre-need contract
- Discuss how a pre-need contract can be funded with life insurance or an annuity
Designed For:
Course Information
Adding additional credit may change exam requirements.
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S1-31 - Framework