IL HB5627

Amends the Illinois Funeral or Burial Funds Act to define "transportation protection agreement" as an agreement primarily providing services for preparing and transporting human remains or cremated remains.

Specifies that transportation protection agreements are not subject to the Illinois Insurance Code.

Changes language in Section 1 from "use" to "delivery" regarding the timing of funeral services and merchandise provided under pre-need contracts.

Adds definitions to Section 1a including "parent company" (corporation owning more than 12 cemeteries or funeral homes in more than one state), "purchaser," and "seller."

Clarifies that the act does not regulate the content of life insurance policies or tax-deferred annuities used to fund pre-need funeral contracts.