N.J. Admin. Code § 13:36-11.5

Current through Register Vol. 56, No. 21, November 4, 2024

Section 13:36-11.5 - Funeral trust converted to funeral insurance policy

(a) A provider shall not replace a funeral trust with a newly issued funeral insurance policy unless and until the provider obtains the written consent of the purchaser. The written consent shall be signed by the purchaser and shall thoroughly advise the purchaser in plain language of the material differences between the original funeral trust and newly issued funeral insurance policy. The written consent shall conspicuously disclose in boldface the provider's earning of a commission based upon the transaction.

(b) The provider shall maintain the documentation required by (a) above pursuant to 13:36-11.16.