What does a "non-guaranteed contract" entail in funeral services?

A "non-guaranteed contract" in funeral services means that the final cost of the funeral services will be determined based on the prices that are in effect at the time of death, rather than being fixed at the time the contract is signed. This type of contract does not lock in the prices for services or merchandise, which means that the family may end up paying more than the original quoted amount, depending on the price changes that occur between the time of signing the contract and the actual date of the service.

The nature of non-guaranteed contracts gives families more flexibility in the short term, but it can lead to uncertainty about the total cost at the time of need. This contrasts with guaranteed contracts, where the prices are locked in, safeguarding against price increases. Understanding the implications of a non-guaranteed contract is crucial for families as they plan ahead for funeral services and consider their financial implications.