You may cancel your plan or transfer your policy to another funeral home at any time. If you cancel within 30 days of signing up, you will receive a full refund.
After 30 days, you can stop payments whenever you choose but your insurance coverage will end. In this case, the money you have already paid will remain available and will be applied toward your future services. At the time of death, you would be responsible for the remaining balance based on the current price of the service. For example, if you had paid $3,000 toward a $7,000 plan and the price later increased to $9,000, your remaining balance would be $6,000.
If your contract is revocable (most are), you may also request your cash surrender value. This is equal to the total premiums you’ve paid plus any growth, minus applicable taxes and fees. The exact amount varies by individual and can be confirmed by speaking with a Recompose licensed agent.