The last thing you probably want to think about whilst alive and kicking and loving life, is shopping for your funeral.
Many who’ve had to make decisions quickly, in a moment of need when a loved one dies, often later report feeling ripped off about their purchase as they didn’t have time to properly research their options and were incredibly vulnerable at the time. Paying top dollar when you can’t really afford it or shouldn’t have to certainly doesn’t inspire heartbroken relatives with confidence in their local providers.
Shopping around for funeral or cremation services when a loved one is desperately ill or has recently passed, can leave many open to feeling completely cheated, whilst still grieving.
Unless you’ve ‘been there’ you may not know that funeral services in Australia can cost anything from around $4,000 for a basic cremation to $15,000 for ‘the works.’ After the medical costs that can sometimes be incurred, most agree that ‘dying ain’t cheap!’
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Researching funeral prices is possibly the last thing you want to do whilst well, however can help you make a decision when not feeling too emotionally vulnerable. You also have the opportunity to have a much bigger say in how you want the celebration of your life to happen.
Do you want a somber and serious affair surrounded by family or would rather have fun anecdotes recounted by friends and your favourite music blaring? I’m guessing you probably haven’t given it too much thought. I still get a bit teary when hearing Auld Lang Syne which was played at all my grandparent’s funerals, but my one surviving grandmother as requested a boy-band number to be featured at hers. I love that she’s had a bit of input and that we can honour her wishes… just not too soon.
Some think it’s morbid or inviting trouble. I choose to think that it’s practical. If nothing is going to bring us back to this life, then making it easier for those left behind is a gesture of our deepest love.
The days of nan and pop having pre-paid their plots seems to be on the decline, but you can choose to prepay funeral bonds which can help partially or completely cover costs. And, with Centrelink electing not to count the bonds under the income or assets test up to the current exemption threshold of $13,000 per person, this can have positive impacts for those receiving the Age Pension. Chat to your financial adviser to see if this strategy can assist in your circumstances.
Sadly, little regulation applies to the funeral industry at present and it’s very much a case of ‘buyer beware.’ There are some lovely stories of personalised services, and also horror stories from those who’d wish they’d known more.
Fair Trading in most states does require that prepaid funerals are registered.
If It’s something you’d like to give a little more thought to, ASIC’s MoneySmart website has provided a financial guide that may assist further called “Paying for Funerals.”
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