Chapter FD 6

BURIAL AGREEMENTS FUNDED WITH LIFE INSURANCE

FD 6.01   Authority and purpose.

FD 6.02   Definitions.

FD 6.03   Registration requirements.

FD 6.04   Change of employment.

FD 6.05   Training requirements.

FD 6.06   Approval of educational training programs.

FD 6.07   Standards for burial agreements funded by life insurance proceeds.

FD 6.08   Contractual standards for agents and operators of funeral establishments.

FD 6.09   Requirements for terminating a burial trust.

FD 6.10   Solicitation of prospective purchasers of burial agreements funded with the proceeds of a life insurance policy.

FD 6.01 FD 6.01 Authority and purpose. The rules in this chapter are adopted by the board under the authority of ss. 15.08 (5) (b), 227.11 (2), 445.125 (3m) (b) 2. b. and (j) 1. and 2., Stats., and govern the registration and regulation of agents.

FD 6.01 History History: Cr. Register, October, 1997, No. 502, eff. 11-1-97.

FD 6.02 FD 6.02 Definitions. In this chapter:

FD 6.02(1) (1) “Agent” means an authorized representative of a funeral director or an operator of a funeral establishment who sells or solicits the sale of a burial agreement that is funded with the proceeds of a life insurance policy.

FD 6.02(4) (4) “Evidence of attendance” means an official transcript, student grade report, or a written form furnished by a program provider which specifies satisfactory completion of an educational training program.

FD 6.02(5) (5) “Program provider” means an educational institution, governmental agency, professional or trade association or foundation or a private firm or individual whose function is educational training programming.

FD 6.02 History History: Cr. Register, October, 1997, No. 502, eff. 11-1-97; correction in (3) made under s. 13.92 (4) (b) 6., Stats., Register January 2012 No. 673; EmR1823: emerg. r. (2), (3) eff. 11-27-18; CR 18-075: r. (2), (3) Register June 2019 No. 762, eff. 7-1-19.

FD 6.03 FD 6.03 Registration requirements.

FD 6.03(1) (1) A licensed funeral director or operator of a funeral establishment shall submit an application with all of the following information:

FD 6.03(1)(a) (a) The identity of any agent authorized by s. 445.125 (3m), Stats., to sell or solicit the sale of a burial agreement that is funded with the proceeds of a life insurance policy on behalf of the licensed funeral director or operator of a funeral establishment.

FD 6.03(1)(b) (b) The agent’s Wisconsin life insurance intermediary’s license number and expiration date, and the insurer or insurers whom the agent is listed to represent.

FD 6.03(1)(c) (c) Evidence satisfactory to the board that the agent has successfully completed at least 20 hours of approved educational training as provided in s. FD 6.05. An agent who is a Wisconsin licensed funeral director and a Wisconsin licensed insurance intermediary shall be exempt from having to complete the 20 hours of approved educational training as provided in s. FD 6.05.