Pre-Planning a Funeral

Key Points

  • There are a number of options available to you, when pre-planning a funeral, such as Pre-Arranged Funerals, Pre-Paid Funerals, Funeral Insurance and Funeral Bonds.
  • A Pre-Arranged funeral is not a formal contract, and there is no obligation to use the services of the nominated funeral director.
  •  A Pre-Paid funeral is a funeral purchased in advance, either by paying in one lump sum, or through a payment plan as decided at the time of signing a ‘contract’.
  • Funeral insurance is designed to pay to your family, a lump sum benefit on your death to cover the costs of your funeral and other associated expenses.
  • Funeral Bonds are an investment product that can assist you to save for funeral expenses, the funds of which can only be withdrawn, after your death.

Pre-Arranged Funerals

With a pre-planned funeral, your family will find comfort in knowing that the funeral reflects your wishes, and also has the advantage of lessening the burden of having to make important decisions at a stressful time. There are a number of options available…

Pre-Paid Funerals & Burial Plots

The costs associated with a funeral vary due to the number of choices available. Please also see our article on How Much Will a Funeral Cost? Your preferences for the type and style of funeral you want (as listed  in our Pre-Arranged Funeral section)…

Funeral Bonds

After the 30 day ‘cooling off’ period your funds are not accessible. Funds can only be withdrawn after your death to pay for your funeral.  Funeral bonds are a good choice for people who want to pay in advance for their funeral, but…

Funeral Insurance

You can choose a coverage from $5000 up to $30000 with some insurers. However, most policies are only issued up to $15,000. Some insurers offer a percentage of your premiums refunded every 3 years as a loyalty reward. Funeral insurance differs from a pre-paid…

Useful Links – Pre-Planning a Funeral

Useful links for Pre-Planning a Funeral:  Please note that these links may be subject to change over time. Australian Government Funeral Bonds and Pre-paid Funerals Veteran’s Affairs – Payments and Compensation Australian Funeral Directors Association Promoting professional funeral standards – Pre-paid Funerals ASIC MoneySmart…