Prepaid Funeral Benefits
The Prepaid Funeral Benefits Division, which is a sub-section of the Finance Division, provides regulatory oversight over funeral homes, perpetual care cemeteries, and other funeral services industry participants that are licensed to sell and administrate prepaid funeral benefits business in Arkansas. Applicable “Prepaid Funeral Benefits Law” includes Act 852 (1995), Act 372 (1997), Act 1249 (1999), Act 1043 (2001), Act 987 (2003), Act 476 (2013), Act 880 & 904 (2015), Act 500 & 521 (2019), as well as a few others. The Prepaid Funeral Benefits Division regulates prepaid funeral benefits activity through the review of annual and quarterly reports, periodic on-site examinations and/or in-house desk audits, and through the review of consumer complaints against and inquiries regarding prepaid licensees.
- Legal/Regulatory References - Prepaid Funeral Benefits Law
Arkansas Prepaid Funeral Benefits Law (A.C.A. § 23-40-101 et seq.)
Rule 63 - Preneed Insurance Replacement and Prepaid Funeral Benefits Contract Cancellation Requirements
Rule 84 - Prepaid Funeral Benefits Contracts Recovery Fund Fees
- Annual Report Recap
- Annual Report Forms & Instructions
AID-FI-AR2020 2020 Annual Report Form (Consolidated format) January 1 through December 31st
2020 Annual Report Completion Instructions
- Quarterly Report Forms & Instructions
AID-FI-QTRLY (2020Q1) 1st Quarter 2020 (01/01/20 - 03/31/20)
AID-FI-QTRLY (2020Q2) 2nd Quarter 2020 (04/01/20 - 06/30/20)
AID-FI-QTRLY (2020Q3) 3rd Quarter 2020 (07/01/20 - 09/30/20)
AID-FI-QTRLY (2020Q4) 4th Quarter 2020 (10/01/20 - 12/31/20)
- Prepaid Contract Cancellation/Transfer Forms
AID-FI-C1 Seller’s Affidavit of Contract Performance: Request to Withdraw Funds or Proceeds
AID-FI-C2 Seller’s affidavit for Cancellation and Cash Surrender or Re-Assignment of Prepaid Funeral Benefits Contract Proceeds
AID-FI-C3 Affidavit and Request of Purchaser to Cancel a Prepaid Funeral Benefits Contract
Appendix A Important Notice: Replacement of Life Insurance or Annuities
Appendix B Important Notice: Replacement of Prepaid Funeral Benefit Contracts
- Initial Prepaid Funeral Benefits License Application Forms
AID-FI-F1 Application for a Prepaid Funeral Benefits License
AID-FI-F3 Agreement to Hold, Invest & Administer Prepaid Funeral Benefits Trust (a.k.a. Trust Agreement)
AID-FI-F4 Certification of Net Worth by Applicant for Initial or Renewed License
AID-FI-F5 Applicant’s Affidavit of No Existing Prepaid Funeral Contracts
AID-FI-CA Custodial Agreement
- Renewal Application Forms
AID-FI-F2 Application for Renewal of a Prepaid Funeral Benefits License
AID-FI-F4 Certification of Net Worth by Applicant for Initial or Renewed License
- Change of Ownership Application Forms
AID-FI-F6 Application for Change of Ownership of Prepaid Funeral Benefits Contracts and Funds
AID-FI-F7 Assignment and Acceptance of Prepaid Funeral Benefits Contracts and Trust Funds
AID-FI-F8 Transferee's certification of Net Worth in a Change of Ownership Transaction
- Transfer of Trust Funds Application Forms
AID-FI-F9 Application to Transfer Trust Funds
AID-FI-F3 Agreement to Hold, Invest & Administer Prepaid Funeral Benefits Trust (a.k.a. Trust Agreement)
- Prepaid Recovery Program Claim Form
AID-FI-PRA Prepaid Recovery Program Fund Application for Reimbursement