The “Neptune Society” a cremation society where you can prepay your Funeral has been fined 1.2 million for insurance Fraud. The company was mishandling the funeral preneed funds of folks in the State of Colorado.
Colorado fined the Neptune Society For Insurance Violations
It would probably not be wise to do business with the “Neptune” folks. If you have a contract with these people it would be wise not to pay them a visit and ask them where your money is put away for your funeral or cremation.
From the Claims Journal
Colorado’s Division of Insurance has fined Neptune Management Corp., dba The Neptune Society $1.2 million for violating state insurance laws, the DOI reported. According to the DOI, one of the primary charges against Neptune was that the company inflated charges for funeral urns and other “merchandise” products, to reduce the quoted price for pre-need funeral services.
By law, 75 percent of the price for pre-need funeral services, including cremation, must be placed in trust until the services are used.Neptune agreed to pay a civil penalty of $1.2 million, for violating provisions of Colorado Insurance Law
Funeral Industry|Funeral Blog by Your Funeral Guy
Neptune Logo from ConnectingDirectors.com
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Tags: blog, burial, colorado, cremation, cremation society, fraud, funeral, funeral industry, funerals, insurance, insurance law, Neptune Society, pre-need, preneed, services, society
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It's unmorally when people earn money in a such way. There may be the case when somebody had prepayed his funeral, but when it happened, the company couldn.t carry out of its obligations.