Consider talking to a financial advisor or legal professional to make arrangements in your Will to ensure that the benefit payout is made available to the correct people, who will be responsible for covering your funeral expenses. Funeral insurance.
Australian seniors funeral insurance reviews
Funeral cover for seniors can be an effective solution to ease the financial burden from your loved ones during an already difficult time.
Funeral cover for over 50 year olds
Australians over the age of 50 can get affordable funeral cover without any medical questions or health checks because acceptance is guaranteed. However, different insurers will have different max entry ages, meaning one company might accept people up to age 75, while another will limit eligibility to age 65.
Where to find funeral cover for over 80 year olds?
Funeral cover for people over 80 years old is generally not available in Australia. This is because your specific age group poses an imminent risk of claiming the funeral benefit. There are, however, other affordable ways you can cover the cost of your funeral, including funeral bonds and prepaid funerals.
Best life insurance policy
Funeral bonds: Also known as a funeral investment, is an investment product usually bought from a funeral director or life insurer and earns interest, enabling you to accumulate funds to meet your final expenses.
Prepaid funerals: You can arrange to pay for your funeral in advance by prepaying for your funeral via regular instalments to your funeral director.
The government: As a pensioner or veteran, you could be eligible for financial assistance through the Australian government to help cover your funeral expenses.
Personal savings: You can choose to open a savings account for the specific purpose of saving for your funeral. Speak with your financial advisor to suggest a lump sum term deposit or set-up a regular payment plan.
Explore your options for affordable burial insurance for seniors today by comparing policies online.