806 KAR 9:370. Preneed funeral agent license

Section 1. Definitions. (1) "Agent" is defined by KRS 304.9-020(1). (2) "Department" is defined by KRS 304.1-050(2). (3) "Preneed funeral contract or prearrangement" is defined by KRS 304.12-240(1)(a). (4) "Preneed funeral insurance" means a life insurance or annuity contract used solely to fund a preneed funeral contract or prearrangement. Section 2. An agent license with a limited line of authority for preneed funeral insurance shall only sell, solicit, or negotiate preneed funeral insurance with a face amount that does not exceed $25,000. Section 3. License Application. To apply for an agent license with a preneed funeral limited line of authority, an applicant shall submit to the department the following information: (1) (a) For individual applicants, Form 8301, incorporated by reference in 806 KAR 9:025, including all applicable attachments; and (b) For business entity applicants, Form 8301-BE, incorporated by reference in 806 KAR 9:025, including all applicable attachments; (2) A completed background check through the Kentucky Administrative Office of the Courts; and (3) The corresponding fees established by 806 KAR 4:010. Section 4. Pre-licensing training. An applicant for an agent license with a preneed funeral limited line of authority shall not be required to complete pre-licensing training. Section 5. Examination. An applicant for an agent license with a preneed funeral limited line of authority shall not be required to complete an examination. Section 6. License renewal. An agent with a preneed funeral limited line of authority shall renew in accordance with KRS 304.9-260.