Many people are realising that Funeral Insurance may end up being an expensive way to cover the cost of a Funeral.
It is important that people understand the true cost of Funeral Insurance and the advantages of a Pre-Paid Funeral. TV Advertising for Funeral Insurance only tells you the price a younger person would pay for insurance. What many people don’t realise is that the price increases dramatically the older you get. An 82 year old can pay as much as $172 per month ($2064 per year) for $8000 insurance cover. Many people drop out of these insurance schemes because the large price increases as you get older make it unaffordable and of little value.
A review by consumer watchdog CHOICE, found consumers were paying significantly more in insurance premiums than the actual value of the cover. “A fifty year-old will end up paying over $140,000 in insurance premiums for a funeral worth $6,000.” Source: The $140,000 Funeral: The pitfalls of funeral insurance, Combined Pensioners and Superannuants Association, March 2011. cpsa.org.au
Another thing that many people do not understand, is that when you stop paying the premiums, the insurance stops. There is no fund that builds up over time or that gets paid out when you leave. Because it is only insurance, it has no value outside the insured period. You have to keep paying the increasing premiums to keep the cover. As people get older they can’t afford the rapidly increasing premiums, so they stop paying and end up with nothing after years of paying for funeral insurance.
A Pre-Paid Funeral Plan is a more affordable and safer way to pay the cost of a funeral over time.
Mark and Patrick were lovely to deal with. Sorted out our concerns quietly and efficiently. They managed every detail so we were free to take care of family.
Patrick and Mark helped us navigate a very difficult time, they were accommodating with last minute changes, were efficient and so pleasant to deal with. Every aspect of the funeral was attended to with professionalism and care.
…provided outstanding service throughout the entire process. We were very impressed and grateful for the genuine care and attention to detail, while meeting our needs and wishes perfectly.
Every aspect of the funeral was attended to with professionalism and care.
We're very grateful for the kindness and professionalism shown to us by Mark in organising our mother's funeral. It went without a hitch and we'd highly recommend Unity. Thank you so much.
I always will be grateful for organised my father funeral. It was most beautiful day thanks to Unity Funerals. Thanks to Funeral Director from all of my family, we appreciate the service from our hearts.
Thank you for all that you have done in organising Xavier’s funeral. You were so caring and professional in this difficult time.
Jacinta, Gabriel & Leala
I wanted to acknowledge and thank you for your compassion that you showed my family at the time of Uncle Harry's death, and for your care and attention to detail in all aspects of the planning and the conduct on the day of his funeral. We are all very grateful.
It is a day that I will remember for the rest of my life – with gratitude and contentment at a job well done.