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Who should consider funeral insurance?

Funeral insurance could be considered by every Australian between the ages of 18–79.

What does it do?

Funeral insurance is a way to provide peace of mind for your family during a difficult time, by providing a lump sum payment to help them pay for your funeral and any final expenses you leave behind.

A lump sum payment when you pass away makes it easy for your loved ones to pay for:

  • your funeral (i.e. burial or cremation, service, death certificates, flowers, clergy fees, etc)
  • any unpaid bills or expenses you leave behind
  • any financial pressures facing your family at the time (i.e. mortgage, school fees, car loan, etc).

Who can take out funeral insurance?

Anyone can apply for funeral cover, as long as they meet the provider’s eligibility criteria.  Seniors Funeral Insurance guarantees cover for Australian residents between the ages of 18 and 79, with no medical exams or blood tests required.

Whatever kind of funeral you have in mind, whether it’s a simple cremation or an elaborate service, funeral insurance will help to make it happen by providing your loved ones with the immediate finances needed to honour your wishes.

Who is funeral cover most suitable for?

  • Funeral insurance is a good choice for those who don’t want to spend a lot of money upfront. Unlike pre-paid funeral plans, where you have to make a large upfront payment, with funeral insurance you can simply pay a fortnightly or monthly premium for your policy and your loved ones will still get the full benefit amount if you die, regardless of how much you’ve paid in.

    Read more about the difference between funeral insurance and pre-paid funeral insurance plans.

  • Funeral insurance is a great option for those who don’t want to have to plan their funeral service right away. Rather than having to lock in the details upfront with a funeral director, you can simply include your funeral wishes in your will, knowing that your loved ones will be able to fulfil them using the lump sum pay out from your funeral insurance policy.

  • Funeral insurance is ideal for those who value convenience. You can take out a policy over the phone in just minutes, with no medical exams or blood tests required. And it’s just as convenient for your loved ones when the time comes, as the benefit they receive can be spent on your funeral along with anything else they need at the time, such as covering any outstanding bills or expenses.

What to keep in mind when researching a policy

Make sure the lump sum pay out your loved ones receive is never less than the total premiums you’ve paid.

For example, Seniors Funeral Insurance Top Cover will provide the following benefits:

  • You will never pay more than your loved ones receive. When the time comes, your family will receive your benefit amount or all of the premiums you’ve paid in – whichever is greater.a
  • Your premiums won’t increase with age. Seniors Funeral Insurance premiums will never go up – and in fact, they will reduce by 5% for every five years that you continue to hold your policy.
  • You can choose an early cash back option. If your financial circumstances change after you turn 85, you have the option to cancel your cover and receive an Early Cash Back payment of 150% of your benefit amount.b

Peace of mind for you and your loved ones

Funeral insurance gives everyone peace of mind.

  • It protects your family from financial hardship during a difficult time by helping to pay your funeral costs and other final expenses.
  • It’s easy to secure a policy over the phone, with no medical exams required and you can choose a benefit amount up to $15,000.

How Australian Seniors can help

When you pass away, Australian Seniors will pay a lump sum benefit to your family (up to $15,000), which they are free to spend as needed.

Benefits of Seniors Funeral Insurance include:

  • Choose cover that suits your needs from $3,000 up to $15,000
  • With our Top Cover, when you claim, receive your covered amount, or all of the premiums you’ve paid in – whichever is greatera
  • With our Top Cover, you have the choice to cancel cover when you turn 85 to receive an Early Cash Back payment of 150% of your benefitb
  • No forms, medical exams or blood tests required to apply
  • Guaranteed acceptance for Australian residents aged 18–79
  • Premiums that reduce by 5% every 5 years that you hold your policy
  • Triple your benefit amount if your death is due to an accident (up to $45,000)
  • 30 day cooling-off period with money back guarantee.

Things to know

Cover for Accidental Death only in the first 12 months.

  1. This is subject to you keeping your policy in force and without changing your level of cover. There is no refund of premiums after the cooling off period. If your policy is cancelled prior to age 85, no benefit is payable.
  2. If you choose the Early Cash Back option, you will no longer be eligible to claim and you may receive less than the total premiums you’ve paid into your policy to date.
  3. Based on a single plan, providing a $3,000 benefit for a person aged 60.

This is general information only and does not take into account your personal objectives, financial situation or needs. You should consider the relevant PDS available on this website prior to purchasing.