Which of the following describes a guaranteed contract?

A guaranteed contract in the context of funeral services refers to an agreement that locks in the price of services at the time the contract is signed, ensuring that the family or individual will pay that pre-set price when the services are needed in the future. This type of contract provides financial protection against rising costs associated with funeral services and goods.

This structure is particularly beneficial for families as it alleviates the financial burden at the time of need, when emotions might be high and decision-making can be difficult. It ensures that the agreed-upon services will be available at the pre-defined cost, protecting against inflation or price increases in the funeral industry, which can occur over time.

The other options reflect different types of contracts or arrangements but do not capture the essence of what a guaranteed contract entails. For instance, contracts based on current prices fluctuate with the market, revocable contracts lack the stability and commitment essential for planning funerals, and contracts solely focused on pre-planned arrangements don’t encompass the pricing guarantee aspect that defines a guaranteed contract.