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Contracts Secured by Insurance | 12 Months Ended
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Dec. 31, 2019
Contracts Secured by Insurance [Abstract] |
CONTRACTS SECURED BY INSURANCE | CONTRACTS FUNDED BY INSURANCE When preneed funeral contracts are funded through third-party insurance policies, we earn a commission on the sale of the policies. Insurance commissions are subject to refund (charge-back) if the preneed policy is cancelled within a year or if there is an imminent death of beneficiary before the first year anniversary of the policy. We record these insurance commissions as Other revenue, as noted in our table of disaggregated revenue in Note 6 to the Consolidated Financial Statements included herein, when the commission is no longer subject to refund, which is typically one year after the policy is issued. All selling costs incurred pursuant to the sale of the insurance funded preneed contracts are expensed as incurred. Preneed funeral contracts to be funded at maturity by third-party insurance policies totaled $388.2 million and $408.8 million at December 31, 2018 and 2019, respectively, and are not recorded as assets or liabilities on our Consolidated Balance Sheet. Generally, at the time of the sale of either the preneed insurance or preneed trust contract, the intent is that the beneficiary has made a commitment to assign the proceeds to us for the fulfillment of the service and merchandise obligations on the preneed contract at the time of need. However, this commitment is revocable and the proceeds from the policy are portable, so the customer can choose to use an alternative provider at the time of need.

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- Definition CONTRACTS SECURED BY INSURANCE + References No definition available. + Details
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- Definition Tabular disclosure of preneed funeral contracts that are secured by life insurance contracts. Disclosure details include total amount of contracts secured by insurance, which are not included on the Company's Consolidated Balance Sheets. + References No definition available. + Details
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