Relates to preneed insurance premiums

This bill requires funeral businesses and providers of preneed funeral services to hold customer payments in interest-bearing trust accounts within New York, rather than using the funds for general business operations. It mandates that money paid for future funeral merchandise or services must earn interest at least equal to other local deposits and be kept separate from the business's other funds until services are delivered. The bill also clarifies definitions for "preneed life insurance," restricts how benefits can be paid (prohibiting direct payment to funeral providers without consent), and requires clear disclosures to consumers about the insurance relationship before payment. These changes directly affect funeral homes, cemetery operators, insurance companies, and consumers who prepay for funeral arrangements.