FD 6.07(4)(4) Information that a life insurance policy is involved in or connected to, or is being used to fund, the burial agreement.

FD 6.07(5)(5) The type of insurance instrument that is being used to fund the burial agreement.

FD 6.07(6)(6) The effect on the burial agreement of all of the following:

FD 6.07(6)(a)(a) Changing the life insurance policy, including, but not limited to, changing the assignment of the policy proceeds, changing the beneficiary designation, or changing the use of the proceeds.

FD 6.07(7)(7) A statement of funeral goods and services selected under the burial agreement and the price of each item or service provided under the burial agreement, including a statement as to whether the purchase price of the funeral merchandise and services are guaranteed at the time the burial agreement is arranged or whether the price is to be determined at the time of need. If the price of funeral merchandise or services is to be determined at the time of need, those prices may not exceed the prices as set forth in the funeral establishment’s general price list required under the funeral industry practices regulations of the federal trade commission.

FD 6.07(8)(8) All information concerning what occurs, and whether any entitlements arise, if there is a difference between the proceeds of the life insurance policy and the amount of money actually needed to fund the burial agreement.

FD 6.07(9)(9) Any restrictions, including geographic restrictions, or penalties relating to delivery or performance under the burial agreement, including any restrictions or penalties relating to the inability of the operator of the funeral establishment to perform.

FD 6.07(10)(10) A statement as to whether the sales commission or other form of compensation is being paid to the agent who sells or solicits the sale of a burial agreement and the life insurance used to fund the burial agreement and, if so, the identity of any other persons to whom the commission or other compensation is paid.

FD 6.07(11)(11) The following statement in not less than 12-point boldface type: “Burial agreements are regulated by the Wisconsin Funeral Directors Examining Board. Should you have a complaint, please contact the Board at 4822 Madison Yards Way, P.O. Box 8935, Madison, Wisconsin 53708 or by telephone at (608) 266-2112.”

FD 6.08FD 6.08 Contractual standards for agents and operators of funeral establishments. A copy of each contract between an agent and an operator of a funeral establishment shall be sent to the board along with the agent’s application for registration as required in s. FD 6.03. A contract between an agent and an operator of a funeral establishment shall include all of the following:

FD 6.08(1)(1) A statement that the agent is currently licensed as a life insurance intermediary in Wisconsin and is currently listed with an insurer or insurers who is authorized to sell life insurance used to fund a burial agreement in Wisconsin.

FD 6.08(2)(2) A statement that the agent has received the required training pursuant to s. 445.125 (3m) (b) 2. a., Stats., and will obtain any additional training as required by the board.

FD 6.08(3)(3) A statement that the agent shall immediately notify the operator of the funeral establishment at any time while the contract between the agent and operator of the funeral establishment is in effect if any of the following occur:

FD 6.08(4)(4) A statement that the agent will abide by the funeral industry practices regulations of the federal trade commission, and all applicable Wisconsin statutes and rules.

FD 6.08(5)(5) A statement as to whether the sales commission or other form of compensation is being paid to the agent who sells or solicits the sale of a burial agreement and the life insurance used to fund the burial agreement and, if so, the identity of any other persons to whom the commission or other compensation is paid.

FD 6.09FD 6.09 Requirements for terminating a burial trust. Written notice shall be sent to the board by an agent, licensed funeral director or operator of the funeral establishment when a consumer terminates a trust as established under s. 445.125 (1), Stats. The following information shall be included in the written notice that an agent, funeral director, or operator of a funeral establishment gives to a consumer and to the board when the consumer terminates a burial trust and converts to a burial agreement funded by the proceeds of a life insurance policy:

FD 6.09(1)(1) The name of the individual for whom the existing burial trust is intended.

FD 6.09(2)(2) The date on which the original burial trust agreement was made.

FD 6.09(3)(3) The name of the funeral establishment that was designated on the original burial trust agreement.

FD 6.09(4)(4) The name of the bank, trust company, savings and loan association, or savings bank in which the burial trust funds have been held.