A funeral can cost up to $15,000¹, so being financially prepared for your funeral spares your loved ones from an expense they might not be able to afford.
Prepaid funeral plans and funeral insurance can both give you the freedom to choose your own funeral and help relieve the financial burden for those left behind.
But there are differences to be aware of before you make your choice:
With a prepaid funeral plan you choose exactly what kind of funeral you want. Then you pay for it either upfront or by instalments over a fixed period of time. Funeral directors and some insurance providers offer prepaid funeral plans.
Generally, a prepaid funeral plan only covers your funeral costs with no extra payout for accidental death.
If you die before you’ve finished paying off the funeral plan then your loved ones may still be responsible for the remaining cost.
Like other forms of insurance, you pay regular premiums for your funeral insurance based on the cover amount you select.
Insuranceline is the longest-standing provider of funeral insurance in Australia, and there are many benefits to Insuranceline funeral insurance cover:
Insuranceline funeral insurance can be yours for as little as a few dollars a week (depending on your age and cover amount selected).
Keep your premiums up to date and we'll:
¹ Source: www.moneysmart.gov.au/life-events-and-you/over-55s/paying-for-your-funeral. Costs are estimates only and vary depending on state, and the services and features chosen.
+Highest payout is paid on receipt of a valid claim and is calculated on your Funeral Insurance Cover Amount or premiums paid toward your Funeral Insurance cover. Read more about the Insuranceline Value Promise in the PDS.
**The premiums may change if you make changes to your Policy or if the underlying premium rates are changed by us. However, you will never be singled out for a premium rate increase.
# After the Policy Anniversary following a Life Insured reaching age 85, the Policy Owner can cash in the policy and receive a payout of 120% of the Life Insured’s average Funeral Insurance cover amount, excluding Bonus Cover, Extra Accidental Death and Accidental Injury Cover. The Early Payout Option may affect entitlements to the age pension and other government benefits.