Recently the Australian Bureau of Statistics (ABS) released data on the causes of death in Australia for 2017. In total there were 160,909 deaths this year, with 82,858 being males and 78,051 females. The leading cause of death for females in 2017 was Dementia and Alzheimer disease (11%) while for males it was Coronary Heart … Read more

When wishing to provide funds for a funeral expense you have three options; 1. Taking out a funeral insurance policy, 2.  Investing in a funeral bond or 3. Entering into a prepaid funeral contract with a funeral business. The following summaries set out the major pros and cons for each. Funeral Insurance As funeral insurance … Read more

Funeral expenses cover will pay for the designated costs of a funeral up to the amount of cover selected. An invoice from a funeral director to support a claim will normally need to be provided and the invoice total will determine the amount to be paid. Should the cost of your funeral be less than … Read more

There are a few features that will determine if the funeral plan you are considering is a fair and reasonable policy; The age when premiums cease With some funeral insurance plans premiums are payable until age 90, while with others, premiums are only payable to age 80.  The saving of 10 years of premiums can … Read more

Most funeral insurers will need a written claim form to be completed and some will want to see a copy of a death certificate, while others may also want to obtain a copy of the funeral director’s invoice before paying out a claim.  This can mean that the payment is not received by the family … Read more

When you have selected the amount of cover you wish and obtained the premium payable, ensure to get answers to these questions – if you are unable to obtain these answers then make sure this funeral insurance policy is in your best interests; Will my premium increase and if so what will it be for … Read more

Two funeral insurance companies were called to give evidence in Round 4 of The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry, Experiences with financial entities in regional and remote communities. Submissions centred on the appropriateness of products, the non-disclosure that the total premiums of a policy could be more than … Read more

Firstly, friendly societies, such as Sureplan, are comprised of multiple benefit funds and the assets of each fund, by law, must be quarantined or separated. The assets of a fund can only be used for the payment of benefits to members of that fund and all net earnings must be retained in that fund for … Read more

There are many differences between Sureplan’s funeral insurance plan, Sureplan Family Fund (SFF), and most other plans available in Australia.  It is now well known that SFF is the only funeral insurance plan that provides cover for a lifetime, with premiums that are guaranteed to never increase and payable only until age 60.  Another difference … Read more

Sureplan is different to other companies that offer funeral insurance in Australia. Believe it or not there are 14 companies offering funeral insurance in Australia according to research company Canstar, including Sureplan   The other 13 are all for-profit life insurance companies whereas Sureplan is a mutual life insurer.  Being a mutual friendly society, Sureplan has … Read more