WHAT IS THE STATUS OF NPS AND ITS RELATED INSURANCE COMPANIES?

NPS has agreed with state regulators to suspend all sales of pre-need contracts effective March 17, 2008 in all states, except Missouri, where the effective date to suspend sales was April 9, 2008.

NPS, at the recommendation of industry regulators, has engaged an independent manager with authority to run NPS and Lincoln Memorial Life Insurance Company and Memorial Services Life Insurance Company.

The Texas Insurance and Banking Departments issued orders agreed to by NPS and the insurance companies to

• Develop and implement a plan which protects consumers from harm due to the potentially hazardous financial condition of the companies;
• Pay claims on insurance policies and pre-need contracts;
• Engage an independent auditor to accurately determine the financial condition of the company.

Statements by the Texas Insurance and Banking Departments and the Missouri Board of Embalmers and Funeral Directors and Dan Watkins, the new manager of the companies, can be accessed by clicking here

NPS and the insurance companies are paying claims. It is the goal of Industry Regulators and new management of the companies to ensure all consumers receive payments for their prepaid funeral goods and services.