What is Funeral Insurance?
Funeral insurance is a plan that helps your family to cover the costs of your funeral when you pass away. The average funeral can cost several thousand dollars, and with a funeral plan, your family will have the money on hand to help pay for all these high expenses.
Why is Funeral Insurance so important?
The cost of a funeral in Australia is several thousand dollars on average. The funeral costs include the casket, burial, flowers, transportation, and much more. If you don't have a funeral plan, this is money your family will probably have to pay out of their pocket in the event of your death…money your family may not have on hand.
Having Aussie Funeral Plan™ helps your family meet the high cost of a funeral by paying out a benefit in the event that the Policyowner passes away. Cover ranges from $3,000 to $15,000, and a triple benefit is paid in the event of an accidental death—up to $45,000.**
Who Needs Funeral Insurance?
If you're an Australian resident aged between 18 and 79, you automatically qualify for Aussie Funeral Plan™. Funeral insurance is something all adults should consider. The worst can happen at any time and, without insurance, your family could be forced to pay thousands out of their pocket for a funeral.
With an Aussie Funeral Plan™, you can also include your partner and financially dependent children until they reach age 21 under your policy. This gives your whole family cover you can count on.
What Should I Consider when Choosing Funeral Insurance?
Getting a Funeral Plan may be one of the most important decisions you'll ever make. With the right funeral insurance policy, you and your family can enjoy peace of mind knowing that the high costs of your funeral will be covered when the time comes. Of course, not all burial insurance plans are the same, and when choosing your policy, you have many things to consider.
- How much cover do I need? Aussie Funeral Plan™ provides cover from $3,000 up to $15,000. It also pays a triple benefit for accidental death—up to $45,000.**
- How much can I afford to pay? Choose to pay your Aussie Funeral Plan™ premium monthly or fortnightly at no extra cost. Whatever fits your budget best.
- Do I qualify? If you're an Australian resident aged between 18 and 79, you're eligible to apply.
- Can I change my funeral insurance later? Things change throughout your life. You may apply at any time in writing to increase or decrease your funeral insurance or otherwise modify your policy.
Why choose Aussie Funeral PlanTM?
Getting funeral insurance is an important decision. That's why it's as easy for you as possible to apply for Aussie Funeral Plan™. You can get accepted by phone in just a few short minutes, and you won't have to answer any health questions or take any blood tests. And once you're accepted, you can keep your policy for life.
How can I get an Aussie Funeral PlanTM?
No one looks forward to applying for funeral insurance. That's why the process is as fast and easy as possible. For Australian residents aged 18 - 79, getting your funeral cover is as easy as 1-2-3.
- Simply call 1300 20 5433 or request a call and a representative will call you back, free of charge
- Choose the level of cover you need—from $3,000 to $15,000**
- Answer a few short questions and get approved in just minutes!
Which funeral expenses are covered with Aussie Funeral PlanTM?
The costs of a funeral are higher than ever before. The average funeral can cost thousands of dollars and, unless you have a funeral insurance plan, these are expenses your family will probably have to pay out of their savings should you die. It's not a pleasant thought, but it's one you need to think about all the same. By finding a funeral expenses insurance plan that suits your needs, you can enjoy peace of mind knowing your funeral expenses will be taken care of, easing the pressure put on your family during a difficult time.
With Aussie Funeral Plan™, a lump sum benefit will be paid to your family – they can choose to use the money as they need – to help cover the costs of the casket, burial, flowers, transportation, and even unexpected expenses such as credit card bills.
Can I decide who receives the death benefit on my policy?
Yes - you can nominate up to 5 beneficiaries as part of your Aussie Funeral Plan™ policy, simply by downloading, completing and returning a beneficiary form.
Is there a money back guarantee?
Yes. You have 30 days from your Commencement Date to decide if your policy suits your needs. If you wish to cancel and get a refund, you may do so with no penalty during this 30 day period.
May I change my insurance later?
Yes. Just apply at any time in writing, and you can increase or decrease your cover or switch your plan type, for example from a Single Plan to a Family Plan.
Am I covered if I am overseas?
Absolutely. Once your Aussie Funeral Plan™ is in place, you are covered 24/7, anywhere in the world.
What is the Premium Rate Freeze?
Generally, life insurance premiums go up each year as you get older – but with Aussie Funeral Plan™, the rate at which your premium is calculated is frozen at the age you are when your Policy starts, for the first three years, if you continuously hold your Policy during that time.
This means that just because you get older, the rate at which your premium is calculated will not increase for those first three years. Plus, the Premium Rate Freeze™ will also apply to any optional benefits that you take out at the same time as your Funeral Insurance, and for any automatic sum insured increases you accept.
Please note that the Premium Rate Freeze™ is not applicable if you apply for a higher benefit amount, or if you add an optional benefit after your Funeral Insurance has commenced. Actual premiums payable are subject to increase each year with CPI. Please refer to the Product Disclosure Statement for full terms and conditions.
What are the payment options?
You can pay your funeral insurance premiums either fortnightly or monthly at no extra cost. Plus the deductions can be made from your nominated account on the day of your choice.
Can the insurer cancel my policy if I get sick?
No - your Aussie Funeral Plan™ policy can continue for life. So provided you remain an Australian resident, and you pay your premiums, your policy can continue for as long as you choose.
Who is the Insurer of Aussie Funeral PlanTM?
Aussie Funeral Plan™ is issued by Hannover Life Re of Australasia Ltd (Hannover), ABN 37 062 395 484 of Level 7, 70 Phillip Street, Sydney NSW 2000.
Hannover's portfolio of life insurance business has been in force for over 40 years and consists of approximately $450 million dollars of annual premium. The company is part of the Hannover Re Group which is one of the world's leading reinsurers. Its worldwide network consists of more than 100 subsidiaries, branch and representative offices in over 20 countries.