Funeral Insurance

Upfront fast payout

Up to $15,000, usually within 24 hours of claim approval. Accidental Death Cover only in the first 12 months of your policy.

Bonus 10% cover¹

An extra 10% of your average funeral cover after 5 years, at no extra cost.

Annual discount

12 months’ cover for the price of 11 when you pay annually.

No medical or health questions

Guaranteed acceptance if you meet age and residency criteria.

Flexible cover

Your choice in how much you’re paid out, from $3,000 up to $15,000.

Flexible payment options

Pay fortnightly, monthly, or annually.

Early Payout option

On your policy anniversary after turning 85, cash out your policy and get 120% of the average cover amount. Applicable to Funeral Cover only and excludes any Bonus Cover or extra Accidental Death Cover.

100% Value Promise

Upon claim, we’ll pay the greater of your cover amount plus any Bonus Cover, or 100% of the premiums you paid. The Value Promise does not apply to the optional Accidental Death Benefit. There is also a 70% Value.

Cooling off period

If you cancel your policy within 30 days of the commencement date, and you haven’t made a claim, we’ll refund the premium you’ve paid.

Family discounts

Add another adult to your policy and each person will receive a 5% multi-Life discount. The multi-life discount doesn’t apply to the optional Accidental Death Cover.

Affordable cover

Starts from as little as $2.75 per week.*

Accidental Death Cover

If you select this optional cover, you can get extra financial support for your family if you pass away as a result of an Accidental Death. See the Combined Product Disclosure Statement (PDS) & Financial Services Guide (FSG) for details for more details about what qualifies as an Accidental Death (some exclusions apply).

When your cover starts you are only covered for Accidental Death for the first 12 months. This means that a claim would not be paid for death that is not an Accidental Death in the first 12 months of taking out Insuranceline Funeral Insurance cover (or, following any increase, in respect of the increased portion). If you die from causes other than Accidental Death within the first 12 months, we’ll refund the premiums you paid so far for funeral insurance. You’ll be covered for all causes of death 12 months from the date your cover commenced.

Exclusions on Accidental Death Cover: A claim will not be paid for an Accidental Death that is caused by participating in unlawful activity, acts of war, undertaking a dangerous occupation or dangerous pursuits, self-injury or suicide, injury as a result of any self-inflicted act including attempted suicide, the taking of intoxicating liquor or drugs taken other than as prescribed.

If you stop paying premiums or cancel your cover before the policy anniversary after the life insured reaches age 85, you will generally not receive any payout or refund.
This is because this is an insurance policy, not a savings policy. However, if you’ve paid an annual premium and cancel your cover before the policy anniversary, you may be refunded part of the annual premium. 

At the policy anniversary after the life insured reaches age 85, we will give you the option to cash in your Funeral Benefit for an immediate cash payout under the Early Payout option.

Please see our Combined PDS & FSG for full details on what is and isn’t covered by the policy.

• The Early Payout Option may affect entitlements to the age pension and other government benefits and may have income tax implications. You should consider these impacts and get advice if necessary, before exercising this option.
• If you are replacing another insurance policy, you may lose valuable benefits so you should consider the terms and conditions of each insurance policy before deciding to make the change.
• Funeral insurance is not a savings plan. If you cancel it before an insured passes away or reaches the Early Payout date, you won’t get anything back (unless you cancel during the cooling-off period).
• The product and cover amount you choose may not appropriate for your needs. Always read the PDS, consider alternatives, and think about an appropriate cover amount. Review your cover regularly to make sure it meets your needs.
• Other risks associated with holding this product can be found in the PDS.

Depending on how long you live, you might hold funeral insurance for a long time. It is important to:

• Understand that there is no cap on the premiums you may pay over the term of the policy (although you will have the benefit of the Insuranceline Value Promise); and
• Consider the long-term affordability of the policy, based not only on your current income, but the income you are likely to have in the future.

Funeral Insurance provides a lump sum payment to your loved ones (nominated beneficiary/ies) when you pass away. This money can be used by your loved ones to help pay for your funeral, settle any outstanding debts you may have or even help cover the cost for a family member to travel to your funeral.

The Youpla Group, also known as the Aboriginal Community Benefit Fund (ACBF) sold insurance policies to First Nations people and went into liquidation in March 2022. 
To help the families of fund members affected by the collapse, the Australian Government is running a support program for those affected. 
 
Youpla Support Program (valid from 1 July 2024) 

The Youpla Support Program commenced on 1 July 2024 and will continue until 30 June 2026. Eligible recipients will not need to apply or register, Services Australia will make contact by phone. It may take some time for Services Australia to contact everyone. If a request is urgent, please contact Services Australia or if you think Services Australia may not have your up-to-date contact details you can contact Services Australia and update this information. 

Key things to note about the Youpla Support Program:

• You may be eligible for a payment through the program if you paid for an ACBF/Youpla funeral fund on or after 1 August 2015 and have not received a previous payment.  
• The program will pay 60% of the amount paid for your policy, up to the total value of the policy (whichever is lower). 
• If a payment is $1000 or more, you will be able to choose between putting the payment into a funeral bond to pay for Sorry Business, or a lump sum payment into your bank account.  
• Financial counselling will be available to help you make the choice. 

The initiative follows the interim Youpla Group Funeral Benefits Program, which closed on 30 June 2024 and allowed the families of former members to claim a grant to cover immediate funeral expenses. 

Need further assistance?

1. For more information about the Youpla Support Program, go to niaa.gov.au/Youpla or call Services Australia on 1800 136 380. 

2. If this has brought up hard feelings, you can call 13YARN (13 92 76) for a private yarn with a First Nations supporter. They will take the time to listen with no shame of judgment. 

3. If you have any questions about your Insuranceline Funeral policy and you are a Youpla customer, we can assist you in discussing any options you may wish to consider and answer your questions. While we are unable to give you personal advice which considers your own individual situation or needs, we can let you know options you may wish to think about.  Please contact us on youplaenquiry@insuranceline.com.au.

Note: This information is current as at 17 September 2024 and is based on information available at that date from the relevant Government websites. 

The cost is based on your age and the level of cover when cover starts, and how much cover you choose to take out. The premium will change if you make changes to your Policy, such as increasing the Cover Amount, adding optional Benefits or other people to your Policy.

The premium will also change if we change the premium rates for our Funeral Insurance portfolio. We will provide you with at least 30 days’ notice before any change to your premiums.

Based on current Australian tax laws, you can’t generally claim your Funeral Insurance premiums as a tax deduction. However, individual circumstances vary, and you should always consult an accountant or tax agent for matters relating to tax.

Yes. Life Insurance provides your beneficiaries with a lump sum payment when you pass away. There are usually no restrictions on how the money can be spent. Your family can spend the money as they see fit, whether it’s paying off a mortgage, clearing debts or paying for funeral costs.

Funeral cover provides a lump sum payment (with Insuranceline, it’s up to $15,000) to cover funeral-related costs. One advantage of funeral cover over Life Insurance is that eligibility requirements generally aren’t as strict—there is no medical underwriting required, so it’s ideal for those who can’t get Life Insurance or need a payment specifically to cover funeral-related costs and expenses.

Your policy simply gives you Funeral Insurance cover—it is not a savings plan.

A refund will be paid to you:

• If you cancel during the 30-day money back guarantee – as long as you haven’t made a claim during that period.
• If you cancel an annual premium before the policy anniversary – you may also be refunded part of the annual premium.

At the policy anniversary after the life insured reaches age 85, we will give you the option to cash in your Funeral Benefit for an immediate cash payout under the Early Payout option.