HB 2290 -- ASSET EXEMPTION FOR CERTAIN PREARRANGED FUNERAL AND
BURIAL CONTRACTS

SPONSOR:  Wasson

COMMITTEE ACTION:  Voted "do pass by consent" by the Special
Committee on Professional Registration and Licensing by a vote of
12 to 0.

This bill specifies that in determining eligibility and the
amount of benefits to be granted under federally aided state
public assistance programs, the value of any life insurance
policy where a seller or provider is made the beneficiary or the
policy is assigned to a seller or provider, either being in
consideration for an irrevocable prearranged funeral contract
under Chapter 436, RSMo, will not be taken into account or
considered an asset of the beneficiary named in the irrevocable
prearranged funeral contract.

FISCAL NOTE:  No impact on state funds in FY 2011, FY 2012, and
FY 2013.

PROPONENTS:  Supporters say that life insurance policies which
are used to pay the cost of irrevocable preneed funeral contracts
are currently included as assets when determining eligibility for
public assistance.  The bill specifies that these policies should
not be included in an applicant's current assets.

Testifying for the bill were Representative Wasson; and Missouri
Funeral Directors and Embalmers Association.

OPPONENTS:  There was no opposition voiced to the committee.

Missouri House of Representatives
95th General Assembly, 2nd Regular Session
Last Updated September 14, 2010 at 3:13 pm