What Is Funeral Insurance?

What Is Funeral Insurance?

Quite simply funeral insurance is a policy you can take out now; then when you die the policy will pay your nominated amount to your beneficiaries which they can use to cover your funeral or other final expenses.

It is a very simple and worthwhile form of insurance, available for a fortnightly or monthly premium, because, with funeral costs increasing at an alarming rate, covering these costs can make the process of burial or cremation smoother and less stressful for those left behind.

Why Should You Cover Your Funeral Costs?

The death of a loved one is a sad and traumatic experience and organising a funeral involves a lot of decisions and details, including the casket, flowers, transport, the service and other related costs.

Families don't always have the ready finance to meet these costs and it typically takes a while before the assets of the estate are distributed. Someone has to pay for the funeral and this in itself can cause friction between family members at a very emotional time. Your family will be grateful to you for making it easier for them by ensuring access to cash, as a lot of policies pay within 2 business days of completing the required claim documentation.  You will need to read the relevant Product Disclosure Statement (PDS) for full details of the policy you are interested in.

A regular payment now may save your family a lot later!

Funeral insurance helps reduce your family's financial burden, in an emotional time.  Funerals can be very expensive. It can be very difficult for grieving families to come up with thousands of dollars at short notice.

When applying for an insurance policy you will need to select the cover option that will suit both your budget, as well as the benefit you would like to have paid out.   You are also able to take out policies which cover your partner and children until they reach the age of 21 (they will need to be financially dependent on you).

What Does Funeral Insurance Cover?

The type and level of cover available will depend on who the insurer is. There will be variations in what they cover, minimum and maximum cover, how much the premiums are and how premium payments are scheduled, which is why you need to compare.  To get the right deal you should compare the funeral insurance products offered by various companies.

The premiums may vary, but generally funeral insurance policies available through Choosi will offer:

  • Immediate cash on certified death
  • Money that that can also be used for other contingencies
  • No effect on your life insurance in any way
  • Simple and easy to understand and arrange
  • No medicals or blood tests
  • Guaranteed acceptance for Australians aged 18 to 79
  • Choice of cover (usually between $5,000 to $15,000)
  • Receive triple the benefit In the case of Accidental Death


You should read the product disclosure statement of any policy you are looking to purchase to find out exactly what is and isn't included in the policy.

Funeral cover buys you peace of mind

You may well think "What benefit is there for me, I'll be dead?" The real benefit to you, of course, is peace of mind.

With the expenses covered, you know your family can arrange a funeral that pays fitting tribute to you and the life you led. Your family will be able to give you a funeral that will express their love and respect for you and give them the closure they need as they bid you farewell.

How to apply or find out more?

It's simple to apply for free funeral quotes online here or just call us on 1300 CHOOSI and we will provide you with helpful information to compare Funeral Insurance policies and get the best cover for your needs.

Need Help Choosing? Call 1300 884 384

8am to 8pm (EST), Mon to Fri.

Our team will be happy to help.

  
 

These articles are provided as reference material to allow more informed decision making, but are not intended as being a complete source of information on any topic. All readers should make their own independent analysis on the topic to make sure they have considered the aspects that are important to them.

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Choosi Pty Ltd (ABN 15 147 630 886) offers insurance products from a range of Australian brands. Choosi does not provide information, or offer cover, for all products available in the market and there may be aspects to some products that we do not compare. Choosi is not an insurer and cover is issued by various underwriters. Your use of this website is undertaken in accordance with the full Terms and Conditions.

Choosi is owned by Hollard Financial Services Pty Ltd (ABN 53 128 692 884), the distributor of each pet insurance, life insurance, income protection insurance, funeral insurance and final expenses insurance policy Choosi is able to arrange directly for the following brands: ACE Insurance Limited, Australian Seniors Insurance Agency, Guardian Insurance, Prime Pet Insurance, Real Insurance, RSPCA Pet Insurance and Woolworths Insurance. Choosi is also a related company of The Hollard Insurance Company Pty Ltd (ABN 78 090 584 473 AFSL 241436), the issuer of each pet insurance product Choosi is able to arrange directly. Information on this website does not take into account your personal objectives, financial situation or needs. You should consider the relevant Product Disclosure Statement (PDS) for more information and to ensure the product suits your needs. The PDS for each of the pet insurance, life insurance, income protection insurance, funeral insurance and final expenses insurance products sold through Choosi and our advisor partner are available through this website. Health Insurance products are not required to have a PDS, but this website has a Fact Sheet for each Health Insurance product Choosi is able to arrange.

Choosi

Ground Floor, 58 Norwest Blvd, Bella Vista NSW 2153

Phone:13 55 55