Pre-Paid Funeral Plans:

We plan ahead for just about every other financial possibility in our lives to ensure that we protect ourselves and those we care about. We take out life insurance and health insurance. We have superannuation. We plan for retirement, and most of us have made a will. Pre-planning a funeral falls into the same basket - it just makes good financial sense.

What is a Pre-Paid Funeral Plan?

A pre-paid funeral plan allows you to invest in funeral bonds to cover your chosen funeral service at today's prices with the funeral director of your choice. You sit down with the funeral director and decide on the main features of the funeral service, e.g.,

• whether you are choosing cremation or burial;
• the preferred cemetery or crematorium;
• the type and style of casket or coffin;
• any special family wishes;
• whether you wish to use a minister or civil celebrant;
• whether or not to have a church service;
• radio funeral notices, newspaper funeral notices, flower arrangements etc.

Once you have decided on your funeral style/arrangements, the cost is worked out at todays figures including GST, and this amount is paid. You may pay in one lump sum or over an agreed period of time. The funeral director does not hold the money - it is forwarded to a funeral plan management fund, who are responsible for managing and investing that money. The funeral director is only paid when he carries out the funeral.  If you plan to be buried we advise purchasing your burial plot privately from your chosen cemetery authority.

What are the advantages of Pre-Paid?

1. Your family is protected from the distress of making difficult decisions at an emotional time.
2. Your family will be relieved from any financial burden towards the funeral costs*.
3. It makes good financial sense. By making all of your choices now, you can fix the price of your funeral at today's cost.
4. You can ensure that your exact wishes for your funeral are made known to the funeral director & your family.
5. You may be able to maximise your pension entitlement. Any money paid into the plan is not subject to the income or assets test or the deemed earning rules (according to current legislation) to a set limit of $10,000.00.
6. Pre-paying means real peace of mind for you and your family.

Also, for a $250.00 one off payment, you may take out a Travel Care Plan which covers transport of yourself from anywhere within Australia back to your home town for burial or cremation. This would likely provide a huge cost saving if say you are from NSW and pass away in WA.

*Note: If you have chosen to fully cover your funeral costs and have completed full payment of the funeral plan.