MASTER CHOICE. The Participant's User Guide

Transcription

1 MASTER CHOICE The Participant's User Guide Welcome to Master Choice... The following materials will instruct you concerning your investment of preneed dollars in one of the Master Choice alternatives. For each of your preneed clients, the Participant may choose from one of the following preneed investment alternatives: Part A: Part B: The Traditional Preneed Funeral Trust; The Preneed Escrow Each investment alternative has distinct characteristics appropriate to the needs of your firm and its preneed clients. Additionally, the Trust and Escrow alternatives permit each Master Choice Participant the individual opportunity to choose one of five separate investment funds, each designed to produce a degree of investment risk and yield appropriate to the needs of your firm and the particular circumstances applicable to your preneed client. Each of these investment alternatives is specifically described in Parts A and B, respectively. This Participant's User Guide is designed solely for use with Master Choice ; any modification of these forms, or use of these materials in conjunction with other preneed programs is prohibited and may result in an unintended consequence, and possibly a violation of Indiana's Preneed Act. For any question or assistance concerning Master Choice or the use of the materials contained herein, please contact: The Master Choice Administrator: Hightower Services, Inc West 96th Street Indianapolis, Indiana (317) (317) FAX or The Master Choice Trustee/Escrow Agent: Fifth Third Bank, Indiana (Southern) P. O. Box 719 Evansville, Indiana (812) (812) FAX MASTER CHOICE User Guide

2 ENROLLMENT IN MASTER CHOICE THE PARTICIPANT'S ENROLLMENT AGREEMENT Welcome to Master Choice, your best choice for your preneed dollars! Please complete the Participant's Enrollment Agreement, a sample of which is shown on the following pages. This will allow your firm access to the investment alternatives available under Master Choice. Those alternatives may be selected on a contract-by-contract basis and are: The Traditional Preneed Funeral Trust If you select the Trust, your firm, as the Participant, may designate one of five investment options. Those are: The Preneed Escrow Capital Appreciation Fund Tax Exempt/Low Volatility Fund Stable Value Fund Income Plus Fund Balanced Fund If you select the Escrow, your firm, as the Participant, may designate one of five investment options. Those are: Capital Appreciation Fund Tax Exempt/Low Volatility Fund Stable Value Fund Income Plus Fund Balanced Fund MASTER CHOICE User Guide 2

3 MASTER CHOICE PART A THE TRADITIONAL PRENEED FUNERAL TRUST Features Choice of Investment Funds Up to 10% Maximum Administrative/Service Fee All Funds Stay in Trust Until Delivery of Services/Merchandise Tax Reporting in Client's Name How to Use 1. Fully complete the WHITE form. Fill in your client's name, address and social security number. Fill in your firm's name, address and Certificate of Authority number. Indicate the amount of the lump sum cash payments or, if installment payments are to be used, fill in the total price, down payment and term of months of your client's installment contract. Designate which investment fund you care to use -- simply place a checkmark in the appropriate box. IF YOU RETAIN A SERVICE FEE - Fill in the percentage (up to 10%) of the amount of the services and merchandise you retain as an Administrative/Service fee ( 90/10 trusting ). You and your client must sign the Preneed Contract. 2. Send the form and all monies collected from your client to Hightower Services, Inc. at 1311 West 96th Street, Indianapolis, Indiana Please be sure to enclose a copy of your firm's Statement of Funeral Goods and Services Selected. MASTER CHOICE User Guide 3

4 3. Provide your client with a copy of his/her Preneed Contract, your Statement of Funeral Goods and Services Selected and a copy of the booklet entitled "Your Rights Under Your Preneed Contract." MASTER CHOICE User Guide 4

5 MASTER CHOICE PART B THE PRENEED ESCROW Features Choice of Investment Funds Up to 10% Maximum Administrative/Service Fee Participant May Elect to Withdraw Excess Escrow Balances (Value at Withdrawal Date Must Exceed Original Cost Less an Administrative/Service Fee Previously Received) Tax Reporting in Your Firm's Name How to Use 1. Fully complete the YELLOW form. Fill in your client's name, address and social security number. Fill in your firm's name, address and Certificate of Authority number. Indicate the amount of the lump sum cash payments or, if installment payments are to be used, fill in the total price, down payment and term of months of your client's installment contract. Designate which investment fund you care to use -- simply place a checkmark in the appropriate box. IF YOU RETAIN A SERVICE FEE - Fill in the percentage (up to 10%) of the amount of the services and merchandise you retain as an Administrative/Service fee ( 90/10 trusting ). You and your client must sign the Preneed Contract. 2. Send the form and all monies collected from your client to Hightower Services, Inc. at 1311 West 96th Street, Indianapolis, Indiana Please be sure to enclose a copy of your firm's Statement of Funeral Goods and Services Selected. MASTER CHOICE User Guide 5

6 3. Provide your client with a copy of his/her Preneed Contract, your Statement of Funeral Goods and Services Selected and a copy of the booklet entitled "Your Rights Under Your Preneed Contract." MASTER CHOICE User Guide 6