Funeral Costs & Expenses
How much does a funeral cost?
Many people are surprised by the costs they incur when a loved one dies. And these expenses arrive at an already difficult time, often well before life insurance claims can be made or an estate can be settled.
Australian funerals can typically cost between $5,000 and $15,000#, depending on whether you choose to be buried or cremated and what kind of service your family would like.
Expenses include internment costs, such as a burial plot and a coffin or casket, as well as costs relating to the celebration of life, like the hire of a venue and celebrant, catering and flowers.
These costs can place an enormous financial strain on your friends and family - just when they're struggling to come to terms with their loss.
#Source: Money Smart, Australian Securities & Investments Commission, 2012
How can I prepare for the cost of a funeral?
Not everyone has several thousand dollars available at short notice to cover funeral expenses. Funeral insurance cover is an excellent way to prepare for the costs associated with a funeral and protect your family's savings for the future.
Cover is available up to $15,000 to go towards your funeral and other expenses. Lower levels of cover can be had for as little as $2.73 a week*. As a simple, purpose-built product, funeral insurance claims are normally settled quickly – which helps ensure funds will be available for your loved ones, when it is needed most.
Funeral plans offer the peace of mind of knowing your family is supported in the event of your death. As long as you keep up to date with your premiums your policy will remain in place for as long as you live. And with 1300 Insurance Ezicover Funeral Advantage, when the amount you've paid in premiums equals the sum you've chosen to insure, you simply stop paying premiums.
*Premium for a non-smoker female aged 50, providing a $5,000 benefit.