Retirement is an exciting time, full of new adventures. however there are also a number of things that need to be planned for to ensure security for you and your family in the future. People often make plans to downsize their house, plan a holiday, or even update their will, but something that is often overlooked is making plans to ensure there are funds available to cover your funeral.
A funeral can cost as much as $15,500
“While it’s not a topic we like to think about, planning for your funeral is something we should all consider. funerals can be an unexpected expense, and many people are surprised to find out just how much they cost” says Michael rehak CEO of australian Seniors insurance agency Pty ltd.
Typically, funeral costs can vary greatly depending on the funeral service, however they can add up to as much as $15,5001 or more, which is a large amount of money for your family to have to come up with quickly. there are so many arrangements to make.
|Funeral Director’s Fees
|$1,900 – $2,500
|Coffin or casket
|$600 – $10,000
|Burial Plot, burial or cremation
|$200 – $2,000
|$165 – $500
|$200 – $500
It all adds up very quickly, even the cheapest possible funeral can set your loved ones back financially and shopping around for a bargain on a funeral cost is not really an option at this time, your family has enough to worry about!
Take control of your affairs
One way to prepare is to buy funeral cover, which pays out a lump sum on the death of the person insured. “the Seniors funeral Plan has been designed to help you protect your family from the financial burden of your funeral, and other unexpected costs. you can choose a benefit amount that suits your needs and budget and the benefit is paid without unnecessary delay to give your family the financial support when they need it” adds Michael. “you also have the option to cover your partner and dependent children”.
Consider all the facts
When considering funeral insurance, you should also see what else is on offer. can you choose the benefit amount and is there a choice of payment options, Do they have both single and family cover plans, plus will you be covered overseas. How long is their ‘cooling-off’ period and are other options available such as accidental Serious injury insurance, concludes Michael.
10 Great Benefits offered by the seniors funeral Plan
– Guaranteed acceptance for all australian residents ages 50 to 79
– No intrusive health or lifestyle questions, medical exam or blood tests required to apply
– Choose your benefit amount to be paid in the event of your death, from $3,000 to $15,0002
– Triple benefit paid in the event of accidental death from day one , up to $45,000
– 30 day cooling off period , time to review your policy so you make sure it suits your needs
– Choose the premium structure that works for you, either fixed premiums or age-based premiums
– Choose to make either monthly or fortnightly premium payments with deductions on the day of your choice
– Single or family cover options , you can choose to cover your partner and all of your dependent children until they reach age 21
– Worldwide protection 24/7, rest assured that with the Seniors funeral Plan, you’re covered wherever you are in the world
– You do not need to pay premiums from age 90, yet your cover continues for life
For more information on seniors funeral Plan call 1300 681 070 or visit seniors.com.au
1 Costs are based on market averages and may vary.??2 Accidental death in the first 12 months only. Cover for any cause thereafter.
This is general advice only. Please consider the Product Disclosure Statement to ensure this product suits your needs available by calling 1300 681 070. This information??is provided by Australian Seniors Insurance Agency Pty??Ltd (AR 270983), an authorised representative of Hollard Financial Services Pty Ltd. AFSL 343079. The Seniors Funeral Plan is issued by Hannover Life Re of Australasia Ltd ABN 37 062 395 484.