(a) Except as provided by Subsection (c), an insurance certificate issued by a burial association must provide for the payment of the benefit in specified merchandise or burial services.
(b) The merchandise or services to be provided must be:
(1) stated in the insurance certificate; and
(2) approved by the department as being of the reasonable value stated on the face of the certificate.

(c) Subsections (a) and (b) do not apply if, at the time the insurance certificate is issued, the insured elects to have the benefit paid in cash.
(d) An election under this section must be stated in the insurance certificate.