Which of the following correctly describes a prepaid irrevocable funeral?

A prepaid irrevocable funeral plan is defined as a financial arrangement for funeral services that is selected and paid in advance and cannot be changed or canceled once established. This type of plan is specifically designed to ensure that the arrangements made will be honored regardless of future circumstances, such as changes in the individual's desires or needs, ensuring that funds are reserved for the specific expenses outlined in the agreement.

The key aspect of "irrevocable" indicates that once this commitment is made, it cannot be undone, thus providing a sense of security both for the individual planning their funeral and for their family. This is particularly important as it alleviates the financial burden on loved ones during a difficult time, ensuring that the intended services will be provided.

In contrast, options that suggest flexibility, alteration of agreements, or withdrawals misrepresent the nature of a prepaid irrevocable funeral, as this model is designed to be a firm commitment rather than a fluid financial arrangement.