Why plan and prepay your funeral? by Jana Pearce


Life on a fixed income can often feel like an exercise in extreme financial management, and the problem can only get worse if your family needs to deal with a long-term illness and the associated costs. Many people take out one form of insurance or another, but is a funeral insurance policy the best way to protect our loved ones from the financial impact of paying for a funeral? I asked Haydn Donnelly, Manager,


Guardian Funerals, to shed some light what is the long-term cost of funeral insurance, as well as offering advice on prepaid funeral plans. “Prepaid funeral plans are a fixed cost


product providing both financial and emotional protection to those we will leave behind,” said Haydn. “First and foremost, a prepaid funeral plan


allows you to sit with a funeral director of your choice to plan the kind of funeral you would like. Your wishes for your goodbye are left for your loved ones to follow, and the cost of these services is fixed in today’s prices," he said. “Prepaying your funeral like this gives


your family the real emotional protection of having a funeral director, who already has a record of all your wishes, only a phone call away. And when you take out a Guardian Funeral prepaid funeral plan, you will receive Australia’s leading prepaid funeral plan, and support will be with your family, when they need it most.” explained Haydn. “Secondly, by fixing the cost of services


in today’s dollars, you have the certainty of knowing that, once fully paid, there is nothing further to worry about.” I asked Haydn what happens if the funeral is held interstate; can the plan still be used? He said that a Guardian prepaid plan


covers the cost of the funeral being conducted with a funeral director of your choice anywhere in Australia. To show the difference between a prepaid


funeral plan with the ongoing nature of a funeral insurance policy such as those being advertised on radio and TV, Haydn gave me these scenarios comparing the two options.


Funeral insurance option 1: A typical funeral insurance policy, taken out at 50 and needed at the age of 85, and providing for a $6,000 funeral at today’s prices, will cost you around $17, 658 in premiums.


124 Seniors & Care Guide 2015


Pre-arranging your own funeral may seem confronting, but it helps many people to feel secure knowing their affairs are in order and their loved ones are relieved of making decisions under the stress of grief.


Funeral insurance option 2: A typical funeral insurance policy, taken out at 60 and needed at the age of 90, and providing for a $6,000 funeral at today’s prices will cost you around $20,768.


Prepaid funeral cost: With the fixed cost nature of a prepaid funeral, that same $6,000 funeral will cost $6,000, and instalment plans are available. With an instalment plan, a 30 per cent deposit is required. "For those on a fixed income, only a prepaid funeral plan provides both the


financial security you are looking for and the emotional peace of mind you would wish for your families," said Haydn.


For more information, contact Guardian Funerals on 1300 662 172 or visit www.guardianfunerals.com.au


As with all financial contracts, you should conduct your own research and seek professional advice before signing any contracts.


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76  |  Page 77  |  Page 78  |  Page 79  |  Page 80  |  Page 81  |  Page 82  |  Page 83  |  Page 84  |  Page 85  |  Page 86  |  Page 87  |  Page 88  |  Page 89  |  Page 90  |  Page 91  |  Page 92  |  Page 93  |  Page 94  |  Page 95  |  Page 96  |  Page 97  |  Page 98  |  Page 99  |  Page 100  |  Page 101  |  Page 102  |  Page 103  |  Page 104  |  Page 105  |  Page 106  |  Page 107  |  Page 108  |  Page 109  |  Page 110  |  Page 111  |  Page 112  |  Page 113  |  Page 114  |  Page 115  |  Page 116  |  Page 117  |  Page 118  |  Page 119  |  Page 120  |  Page 121  |  Page 122  |  Page 123  |  Page 124  |  Page 125  |  Page 126  |  Page 127  |  Page 128  |  Page 129  |  Page 130  |  Page 131  |  Page 132