What is the maximum allowed amount for an irrevocable funeral contract?

The maximum allowed amount for an irrevocable funeral contract in Connecticut is set at $5400. This limit is established to ensure that individuals who enter into such contracts are protected while also allowing them to cover the costs of funeral services without exceeding the regulatory cap. Irrevocable funeral contracts can provide peace of mind, as they secure funeral arrangements and help protect against financial changes that may occur in the future.

The figure of $5400 is in alignment with the state's policies regarding the funding of funeral services, considering factors such as inflation and cost-of-living adjustments over time. By setting a specific maximum amount, the state helps to standardize expectations for both funeral service providers and consumers, thereby ensuring a level of accountability and transparency within the industry.