Tell us what you want the money to be for. A verified insurance professional who covers your postcode will get in touch to explain how funeral insurance works, how it compares with funeral bonds, prepaid plans and other cover, and what to ask before you commit.
A verified professional will get in touch.
None is right for everyone. Ask for the total cost and the payout, side by side.
A premium for a lump sum paid when you die, usually with a low sum insured.
Money invested to pay for a funeral, which you can often access or cancel.
You pay a funeral director in advance for a specified funeral.
Money you keep yourself, or standard life insurance if you are in good health.
The cost is paid from your estate, with no premiums but no earmarked money.
The first conversation is about which option suits your situation.
How long before the full amount is paid, and what is paid if you die earlier.
For life, or until a certain age, and what happens if you stop.
Add up what you may pay in over the years and compare it with what is paid out.
And how much it has risen in the past.
Who is named, and how to keep that up to date.
Which causes of death or circumstances aren't covered.
Ask for the firm's Australian Financial Services Licence number and check it on the ASIC register.
And after that.
At different ages, in dollars.
Ask for the cost of each.
Whether cover ends and whether anything is paid back.
The cooling-off period, and any fees after it.
We connect you with one verified provider who understands what you need. No hard sell, and no obligation.
Premiums can add up to more than the payout if you live a long time. You hear how to work out whether it is a fair deal.
Funeral insurance, funeral bonds, prepaid plans and savings do different jobs. You hear how they compare for your situation.
You get the options explained. Whether to buy, and from whom, is always your decision.
It's a policy that pays a lump sum when you die, intended to help pay for a funeral, usually with a low sum insured and limited health questions. It is different from a funeral bond or a prepaid funeral plan.
Premiums can rise as you get older, and if you live a long time you may pay in more than the policy pays out. Many policies pay only a limited amount, or nothing, for death from illness in the first year or two. If you stop paying, you usually get nothing back.
It depends on your age, health and how long you live. ASIC has raised concerns about the value of some funeral insurance, so ask the adviser to show what you would pay in total against what would be paid out, and compare other options.
A funeral bond is an investment set aside to pay for a funeral, which you can often access or cancel. A prepaid plan pays a funeral director in advance for a specified funeral. They work differently from insurance and have their own rules, fees and risks, so ask how each one would be protected.
Setting money aside in savings, life insurance that pays more for the money if you're in good health, or simply leaving the cost to your estate. A professional can explain how each one works, so you can compare.
It usually means you can't be turned down on health grounds. The trade-off is often a waiting period, and a payout limited or reduced in the early years. Ask exactly what is paid if you die in the first couple of years.
Be cautious. You don't have to say yes on the phone, and good firms won't pressure you. Ask for the details in writing, check that the firm holds an Australian Financial Services Licence, and take time to compare.
The people you name as beneficiaries. Ask the adviser how to set that up and keep it up to date, and what happens if your circumstances change.
Most policies come with a cooling-off period, often 14 or 30 days depending on the type. The terms differ, so check what applies and read your Product Disclosure Statement.
Complain to the insurer first. If you're not happy with the answer, you can take it to the Australian Financial Complaints Authority, which is free to use.
Your age, roughly how much you'd like the payout to be, whether you smoke, and your postcode. If you don't have everything, send the request anyway.
No. Namoye is a free matching service. It doesn't sell insurance or funeral products, or give advice. Any quote or advice comes from the firm that contacts you.
No to both. A verified professional contacts you, and Namoye is free for you.
All AU insurance · Life Insurance · Income Protection Insurance
Namoye is a free matching service. It is not an insurer, funeral provider, broker or adviser, and it doesn't give insurance, tax or legal advice. Any quote or advice comes from the firm that contacts you. Check that a firm holds an Australian Financial Services Licence on the ASIC Professional Registers (asic.gov.au) before you share personal or payment details.
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