Funeral Insurance for Seniors

Thinking about death may bring up uncomfortable feelings, and that’s only human. But there are many who choose to accept the reality that one day they too will pass and, in doing so, become free to prepare for the day. This preparation provides comfort and security at a time they and their family need it most.

There are some things we can do in advance to make sure that loss doesn’t bring additional worries for our loved ones, like how to pay for the funeral. Giving your family that peace of mind - and the space to grieve without extra concerns - can make a big difference to those we leave behind and how they’re able to deal with losing you.

It’s important to consider that the cost of a funeral in Australia could cost as much as $15,000, which more often than not, is an expense that can be alleviated by funeral insurance, helping families through hard times when they’ve suffered a loss.  

In a nutshell, funeral insurance significantly reduces this financial burden. It’s there to help your loved ones plan and finance aspects of a funeral arrangement.

Insuranceline’s Funeral Insurance Policy

Below are some of the benefits of an Insuranceline funeral insurance policy that you can enjoy:

Highest Payout

After the first 12 months, your beneficiaries will always receive the highest payout upon claim, whether that's your cover amount, or the premiums you've paid toward your Funeral Insurance cover

A Bonus for your Loyalty

After you've had your policy for five years with Insuranceline, we will add an extra 25% Bonus Cover to your policy. If you have multiple people on your funeral insurance policy, each adult will get the extra 25% cover from their commencement date.  

Early Payout Option 

Receive 150% of your average funeral cover if you cash in your policy after you turn 85.

No Medical Questions

We won’t ask you any questions about your medical history.

Funeral Insurance Features Seniors Should Look For

While you’re reviewing the PDS, there are a few questions you’ll want to ask any funeral insurance provider. Perhaps more importantly, the right questions can also save your family additional stress or even unexpected surprises when it comes to claiming on your policy.

Here are some key questions to help you make the right decision for you and your family.

How quickly will benefits be paid?

Obviously, the sooner the better. Look for information or commitments from the insurer that they will pay out promptly - some might say they can release benefits within 24 hours of receiving completed claims forms. Insuranceline aims to provide full payout of your policy within 24 hours of a completed claim. Turning the payments around in a day hopefully gives your family what they need to make all the necessary funeral arrangements in a timely manner, without rushing or panicking about the finances. 

What are my payment options?

Flexibility of payment options can be helpful when organising your personal finances throughout the year. That’s why we offer fortnightly, monthly or annual payments of your premiums to help you pay the way you prefer.

There are also generally two different types of premium options: Stepped Premiums and Level Premiums. A Stepped Premium starts lower than a Level Premium but increases as you age and because of other considerations. 

Whereas a Level Premium is often higher to start with as it doesn’t increase just because you get older. 

Do I qualify for funeral insurance?

Providers differ in the maximum age at which they’ll let you take out a funeral insurance policy. The maximum age range is usually around 75-80 years old. Most funeral insurance policies generally don’t expire, regardless of age, as long as the premiums are paid. However this may not be the case for all providers, so make sure you check the terms and conditions and confirm whether the policy will expire at a certain age or date.