If specified by the purchaser in writing, the first ____ of a preneed contract can be made irrevocable.

Prepare for the Nebraska Funeral Licensure Test with our comprehensive study guide, featuring multiple-choice questions with hints and explanations. Get exam-ready!

In Nebraska, under the preneed funeral contract regulations, the first specific amount of money designated by the purchaser can be made irrevocable if specified in writing. The correct amount is $4,000. This amount allows for part of the prepayment to be guaranteed and protected from being changed or revoked once the conditions are met. Making this portion of the preneed contract irrevocable helps to secure funds for future funeral services, ensuring that the designated amount is preserved for that purpose, safeguarding against inflation or changes in service costs.

Specifying this amount in a written agreement reinforces legal protections for both the consumer and the funeral service provider, establishing clear expectations and financial commitments. Establishing this figure as irrevocable provides peace of mind to purchasers since they can maintain assurance that a portion of their funds will be allocated for expenses related to their chosen funeral services.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy