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Planning • 4 min read

Funeral Insurance for parents

You can take out a Funeral Insurance policy on behalf of your parents to ensure they are covered. We help you through the process of putting cover in place for your parents.

As our parents move into their golden years it’s good to start preparing for more difficult conversations. Discussing topics such as finances and end of life arrangements is never easy to do but it is important to ensure that the correct measures are in place for when the time comes.

Funeral insurance can help ease any additional financial burden to let you and your family concentrate on grieving without unnecessary stress.

You can take out a policy on their behalf to ensure they are covered. Even if your parent(s) don’t want to talk about a topic like funeral insurance, which is understandable, we can help you through the process of putting funeral cover in place for your parents.

End-of-life expenses and funeral costs add up fast

Many Australians are unaware of how much a funeral and any associated final expenses actually cost—until they get the bill.

ASIC’s MoneySmart website says funerals can cost anywhere from $4,000 for something simple to $15,000 for a more elaborate funeral (costs are estimates only and vary depending on the state, and the services and features chosen). Typical items to account for, depending on the funeral type, include:

  • Coffin
  • Funeral director fees
  • Transportation
  • Death certificates
  • Burial/cremation
  • Permits
  • Cemetery plot
  • Flowers
  • Newspaper announcements
  • Wake or other memorials/ tributes

Primarily, funeral insurance is there to cover the cost of the funeral itself along with various other expenses that you might need to cover.

Some examples of how funeral insurance can be used to help you provide the perfect final farewell that your parent would love are:

  • Flight expenses for family members who need to travel from further afield for the funeral
  • Venue hire, catering, or a bar tab for the wake
  • Creating small keepsakes for funeral attendees to remember your parent by
  • A donation to a cause that your parent was close to, that may not be in their will
  • A small cash gift for their grandchildren

Bringing up the topic of Funeral Insurance with parents

It’s always difficult to talk about death, especially when it involves your own parents who you love and probably can’t imagine living without. However, the earlier you initiate the conversation about funeral insurance costs and planning, the sooner you and your parents can make the right arrangements and rest easy.

Before you look at getting a funeral insurance policy, it makes sense to talk to your parents to find out what kind of resources they already have, and if they already have a plan in place. This can help you both feel more secure in the knowledge there’s a plan in place for when the time comes.

It’s also a good idea to find out what your parents want for their funeral.

  • Do they want to be buried or cremated?
  • If they want to be buried, do they already have a funeral plot reserved?
  • If they prefer cremation, what do they want done with their ashes?
  • If they don’t want either, is there an alternative to a traditional funeral they would prefer?
  • Is there a song they’d like played?
  • Is there particular clothing they’d like to wear?

These details could factor into the type and amount of funeral insurance they need.

Can I get funeral insurance for other relatives?

Yes. You can generally take out funeral insurance for a relative. Some providers may only offer to cover you and your partner, but most will provide cover for any adult or relative you choose to nominate.

Just make sure you have the consent of the family member you want to insure to buy funeral insurance on their behalf. Your relative will be told that there is a policy taken out over their life.

Can I nominate myself to be the beneficiary?

If you’re buying funeral insurance for your parent you are the owner of the policy, despite not being the person insured. This means that you are automatically the beneficiary should you need to claim on the policy.


Important information

Cover under the Funeral Insurance Benefit is for Accidental Death only for the first 12 months of cover, including for any increases. Accidental Death has a special meaning in the PDS and some causes of death are excluded during this time—please refer to the PDS or call us for further details. After the first 12 months, the Funeral Insurance Benefit provides cover for all causes of death.

Backed by TAL

^Insuranceline Win 1 of 5 $1000 Visa Cards (Competition). Subject to the Terms and Conditions, the Promotor is offering customers a chance to win one of five Digital Visa Gift Cards valued at $1,000, in one of the four draws. Entry commences on the 1st of April 2024 and will run for four months until 11:59pm AEST on the 31st of July 2024 (Entry Period). During the Entry Period, to be eligible to participate in the Competition, customers must get a quote and take out a new Insuranceline Life Insurance, Income Protection Insurance, or Funeral Insurance policy to enter the Competition. A maximum of one (1) entry into the Competition will be awarded per eligible policy. The Promotion is not open to existing customers, or customers who have cancelled a Promoter branded policy in the 12 months prior to the commencement of the Entry Period and then taken out a new Insuranceline branded policy. Each of the four Prize Draws will take place at Level 16, 1 Denison Street, North Sydney NSW 2060 on the respective Prize Draw and Time, as listed in the table in Condition 13 (and if any Redraws if there are any unclaimed prizes, Condition 19) of the full Terms and Conditions, and the winners will be sent an email and will be attempted to be notified via phone within two (2) business days of the Draw and published on Max. retail value of the total prize pool is $20,000. To be eligible at time of the draw, customers must still have an active policy and have paid 1 month of premiums in full. View eligibility criteria and full terms and conditions here. Promoter: TAL Direct Pty Limited ABN 39 084 666 017 AFSL 243260. Permits: NSW NTP/09255, ACT TP24/00483, & SA Licence No. T24/388.

**Bonus 10% more cover is calculated on the fifth anniversary from the Policy Commencement Date. Each adult life insured will have an extra 10% of the average Funeral Insurance Cover amount held during the previous five years added to their Funeral Insurance benefit. Terms and conditions apply. Refer to the PDS for more information.

#Claims paid figures relate to all Insuranceline life insurance policies in the 2021 financial reporting year (1 April2021 to 31 March 2022). All claims on Insuranceline policies are assessed against the relevant policy terms and conditions. These terms and conditions, as well an explanation of the claims process, can be found in the applicable Product Disclosure Statement. Claims are administered and settled by the insurer, TAL Life Limited.

***Insuranceline is the longest standing provider of Funeral Insurance in Australia, based on: Strategic Insight, Actuaries & Researchers. Funeral Insurance means a policy with periodic premium payments that provides a lump sum to help pay for funeral and associated expenses when you die and excludes pre-paid Funeral Plans and Funeral Bonds.

The information provided on this website is general advice only which means it does not take into account your individual needs, objectives or financial situation. For this reason, you should consider whether it is appropriate for you, and before you decide to buy or to continue to hold an insurance product, you must read the relevant Combined Product Disclosure Statement (PDS) and the Financial Services Guide (FSG). The PDS/FSG contains important information which will help you understand the product, including what's covered and what's not covered and to decide whether it is appropriate for you. The Target Market Determination (TMD) for the relevant product, where applicable, is also available.

If you are considering cancelling a policy you already hold in order to replace it with a new policy, make sure you read the terms and conditions of both policies before you make a decision. The cover terms may be different, you may lose benefits accrued under your existing policy, and waiting periods may apply to the new policy. Changes in your personal circumstances (such as your age, health, and employment) that have occurred since your existing policy was originally taken out may also affect your new policy. As your application for a new policy may not be accepted, and some policies may be unable to be reinstated after they have been cancelled, you should consider waiting until your new policy is confirmed before you cancel any existing cover.

Promoted by Insuranceline, a trading name of TAL Direct Pty Limited (of Level 16, 363 George Street, Sydney NSW 2000) ABN 39 084 666 017 AFSL 243260. TAL Life Limited ABN 70 050 109 450 AFSL 237848 issues the life insurance benefits. St Andrew's Insurance (Australia) Pty Ltd ABN 89 075 044 656 AFSL 239649 issues the Involuntary Unemployment Cover.

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