What is a requirement for the preneed contract regarding the prices of purchased supplies and services?

In a preneed contract, it is essential to clearly state whether the prices of purchased supplies and services are guaranteed. This information is crucial for consumers as it provides them with an understanding of what their financial obligations will be at the time of need. A guaranteed price means that the consumer will not face unexpected increases in costs when they actually require the services or products outlined in the contract.

Specifying whether prices are guaranteed offers transparency and protects the consumer from potential price fluctuations, ensuring they can budget accordingly for the future. This requirement is in line with regulatory standards that aim to provide consumers with clear and reliable expectations regarding their investments in funeral services.

While other answers may touch on important aspects of preneed contracts, indicating whether the price is guaranteed is a vital factor for consumer assurance and regulatory compliance.