In many cases consumers make the decision to invest in a funeral bond because of the influence of a life event such as planning for retirement or entering into aged care accommodation. For both these events it can be advantageous for a pensioner to divest assessable assets by investing in a funeral bond. As at 1 July 2019 the maximum amount, which can be invested and not treated as an asset by Centrelink or the Department of Veterans’ Affairs, is $13,250.
For others, an investment in a funeral bond is simply part of a funeral pre-arrangement process. The motivation for people to make funeral pre-arrangements is often the desire to ensure their family are not burdened with their funeral cost. Sureplan only needs to be advised (no written claims forms required) for the funeral benefit to be paid within 1 working day making the claims process for the family an easy and simple process.
So, whatever the reason, an investment in a funeral bond such as Sureplan Gold is a secure and easy way to put aside funds for a funeral expense – and depending on your situation, it can lead to an increase in your pensions or improve the Government subsidy if you are entering into aged care.