Preneed Insurer Agrees To Reverse Transactions

The Missouri Department of Insurance, Financial Institutions & Professional Registration has persuaded an insurer in the state to undo some sales.

Lincoln Memorial Life Insurance Company, a unit of National Prearranged Services Inc., St. Louis, has accepted a consent order that calls for it to reverse some life insurance replacement transactions, Missouri officials say.

Lincoln Memorial also has agreed to give regulators access to the records necessary to fulfill the consent order, officials say.