The Cost of Funeral Insurance in Australia: August 2024 Update
To help you going through these heartfelt times, we will give a comprehensive overview of funeral insurance costs and features in Australia as of August 2024.
Average Costs of Funeral Insurance In Australia
The cost of funeral insurance in Australia typically ranges from $10 to $30 per month. However, premiums can vary significantly based on factors such as age, coverage amount, and policy features. Here is a more specific breakdown:
Low-Cost Plans: $10 – $15 per month. Typically offer coverage between $3,000 and $5,000
Mid-Range Plans: $15 – $25 per month. Coverage usually ranges from $5,000 to $10,000
Premium Plans: $25 – $30+ per month. Can provide coverage up to $15,000 or more
It’s important to note that these are average figures, and actual costs can be higher, especially for older applicants or those seeking higher coverage amounts.
Coverage Amounts of Funeral Insurance In Australia
Guaranteed Acceptance: Many funeral insurance policies offer guaranteed acceptance for Australian residents within the eligible age range, typically 40-79 years old.
While funeral insurance can provide peace of mind, it’s worth considering alternatives such as:
Prepaid Funeral Plans: Lock in today’s prices for future funeral costs.
Funeral Bonds: A tax-effective investment option to save for funeral expenses.
Savings Accounts: Dedicated high-interest savings accounts for funeral costs.
Living Legacy Forest: Cremate your loved ones and treat their ashes to become nutrients for plant growth. You will become a Legacy Tree in your afterlife, giving life to nature and forever connect with your family through unlimited visits to the gardens at Mornington Green and ongoing care in perpetuity.
When considering funeral insurance, it’s crucial to carefully review the policy terms, understand how premiums may change over time, and compare offerings from multiple providers to find the best value for your specific needs.
Lets explore more about Mornington Green Legacy Gardens!
Website: morningtongreen.com.au
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Remember, planning ahead can significantly reduce stress and financial burden on your family. Consider discussing your preferences with loved ones and you can explore pre-planning options with us here!