What type of contract does not guarantee specific funeral prices at the time of death?

A non-guaranteed contract is one where the funeral home does not lock in specific prices for the services and merchandise at the time the contract is signed. Instead, the family or individual may be required to pay the prevailing prices at the time of death, which can fluctuate based on inflation, changes in the funeral home's pricing policies, or other economic factors. This type of contract typically offers some level of planning or preparation but does not provide the financial certainty that comes with guaranteed contracts, where all costs are locked in in advance.

In contrast, a guaranteed contract ensures that the prices for specific funeral services and merchandise are fixed at the time the contract is signed, protecting the individual or the family from price increases in the future. Pre-need contracts refer to agreements made to arrange and pay for services before the need arises, and they can be either guaranteed or non-guaranteed. Service contracts usually relate to specific obligations defined by the service providers but do not inherently address price guarantee terms unless specified. Thus, the non-guaranteed contract represents an agreement that lacks the certainty of fixed pricing, which is crucial for financial planning in funeral arrangements.