When we hear the terms ‘pre paid funeral plans’, ‘prepaid funerals’ or ‘funeral funds’ there are usually two variations on what is actually being looking for.
- An insurance type product that will pay a cash lump sum at the time of death to pay for funeral expenses
- A savings / investment product that is either paid into regularly or where a one off large sum is invested and held until you pass and then used to pay for funeral expenses
- Most commonly people would require funeral insurance (also known as funeral cover or a funeral plan)
- This is a guaranteed acceptance insurance type paid by regular premiums (fixed for life). At the time of death a cash lump sum is then paid out to your nominated beneficiary
- A benefit of funeral insurance over any saving type initiative is that if an unforeseen event occurs sooner than expected the claim pay out would always exceed the amount you may have otherwise saved to that point.
We can email you more product information and quotes if you care to complete the online enquiry form. For information on savings / investment products please scroll down for more information.