Prepaid funerals– your questions answered
PREPAID funerals are becoming increasingly popular, as people become more aware of the emotional and financial benefits associated with planning ahead.
But there are a lot of questions about prepaid funerals, and how they work.
Kings Funerals Prepaid Consultants, Julie Cantwell and Samantha Voyle-Hallihan are here to help answer some of your most common questions.
How do I prepay a funeral?
There are two ways to prepay a funeral.
The first is with a funeral bond where the cost of your funeral is estimated and a lump sum is invested with a funeral fund manager to go towards future costs.
With this option you can set a target amount and pay in regular or occasional contributions, when and how it suits you.
The second option is a prepaid funeral plan.
This is where you decide the details of the funeral service that you want and Kings Funerals guarantees with a written contract to carry out the funeral as arranged, whenever it’s required in years to come.
This option does have to be paid in full, and includes a price guarantee fee to lock in today’s prices with the money once again securely invested with a fund manager.
Is my money safe?
Yes. In Victoria, prepaid legislation requires that all funds must be invested with a friendly society. After the initial investment, Kings Funerals cannot access the funds until the funeral has taken place.
What if I move?
If you relocate to another area and want the funeral to be held in your new location, then the investment can be re-assigned to a more local Funeral Director in your new area.
How do I benefit from planning ahead?
The services you pay for today will not attract extra costs when the funeral is needed.
You’re able to fix the cost of a funeral forever and provide comfort and reassurance for your family.
The investment can help preserve your pension entitlements, adding to the financial benefits of planning ahead.
Lastly, you record exactly how to be remembered at the service in your own unique way.
Want to talk it through?
Kings Funerals are here for you.
To arrange a no-obligation appointment with Julie or Sam, phone 5248 3444 or email [email protected]
You may also download the free “Memories Matters funeral planning guide” from kingsfunerals.com.au/pre-paid. Kings Funerals are here for you – for funerals your way.