If you wish, as well as making the funeral arrangements in advance, you can choose to pre-pay your funeral expenses, although you will not be pressured to do so as this is entirely your decision.
Pre-payment is one way to ensure that your family will not face a financial burden at some time in the future. All the costs involved can be decided upon when there is not the emotional stress that accompanies a death.
Funeral Payment Plans
You can pre-pay upfront with the full amount as a lump sum or with regular monthly, quarterly, six-monthly or annual instalments or ad hoc deposits – any amount at any time. The minimum instalment payment per month is $20.00, although it is best to pay as much as you can afford so that there will be sufficient funds for the funeral when needed.
Payment can be arranged as either a variable price funeral plan or fixed price funeral plan, whichever best suits your circumstances.
You can protect and maximise your pension as the monies, up to $12,000.00 (indexed yearly), paid into the plan will not be subject to any income or assets test with Centrelink. (current legislation at time of writing). Please consult your Financial Planner.
Queensland has enacted specific funeral fund legislation. The Act regulates the investment activities of pre-paid funeral funds ensuring that pre-paid funeral monies/bonds are managed independently from the funeral director. All monies are placed into secure, government-approved funeral funds.
If you would like to meet with us to discuss the benefits of pre-planning and/or pre-paying your funeral and the options available at no obligation or cost, please contact us on 07 46349946.
Funeral Insurance Policies are designed to meet funeral costs and only paid upon death. Most policies only cover death by accident in the first 12 months.
When you first take out the insurance, it may cost less than a cup of coffee a week, but some premiums rise and accumulate as you age. We strongly advise you to calculate the cost of the plan over several years as many plans become very expensive and even unaffordable as people age. Sometimes people end up paying far too much.
We encourage people to ensure they are making informed decisions on how to pre-finance their funeral by exploring all options and do your research.
We are able to assist you in finding the right funeral insurance at competitive rates. Please contact us to learn more.
Cemetery and Cremation Pre-payment
You may also wish to consider selecting and prepaying your cemetery plots, interment fees and plaque or cremation fees, ashes inurnment site and plaque if selected.
Please contact the relevant cemetery or crematorium to discuss the range of options available.