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Why Final Expenses Insurance can be so important

A thoughtful send off is an important way for a family member to say goodbye to a loved one with respect and peace. But many people don’t realise that finding the money to pay for a funeral plus other unexpected costs like outstanding bank loans, credit cards and household bills, can place a financial strain on loved ones if you were to die unexpectedly. If you are looking for a flexible funeral insurance plan, then Final Expenses Insurance could be the perfect option for you.

Financial debt as a result of a loved one passing away can run into the thousands of dollars, and if you don’t plan ahead now, your family could be left with an unexpected financial burden, at a time when they will already be experiencing sadness and grief. When a family member passes away, there can be more to pay for than just a funeral.

The table below provides a sample of some common funeral costs and possible outstanding debt that may need to be paid. Funerals on average can cost between $4,000 and $8,0001 in Australia and add to that existing personal debt, this can place a huge, unexpected stress on your loved ones.

Final expenses your family could be left with
Total $10,500
Funeral Director $1,500
Casket $4,000
Flowers $500
Credit Card Debt $1,000
Personal Loan $3,000
Utility Bills $500
  1. Costs are based on market averages and may vary.

Would your family have this money on hand to pay for your outstanding loan, credit card debt, household bills and funeral expenses if you were to pass away unexpectedly?

Request a quote and get peace of mind that your loved ones will have the help they need, when they need it.

Seniors Final Expenses Insurance, like some funeral insurance policies, is designed to help relieve the financial burden of a funeral falling on your family by ensuring that financial protection is in place in advance.

By securing cover early, you can have peace of mind for you and your loved ones with direct access to money when they need it. That way, they can give you the send off that you would like plus possibly money left over to assist with outstanding bills, without worrying about how they will pay for it.

Read more about the Australian Seniors Final Expenses Insurance.

Some things you should know

  • Cover is for Accidental Death only in the first 12 months, then death by any cause thereafter.
  • The Benefit Amount automatically increases by 5% annually up to age 80 with a corresponding increase in premium annually but you can choose to decline this increase.
  • In addition, if you have selected the age-based premium option, your premium rate will increase on each Policy Anniversary if the oldest Life Insured on the Policy is aged between 44 and 80. While the oldest Life Insured on the Policy is younger than 44, or older than 79, your premium rate won’t increase due to age.
  • If cover ends, no benefit is payable and there is no refund of premiums after the cooling off period.
  • Please be aware that if you hold your Policy for an extended period of time, it is possible that you could pay more in premiums than the Benefit Amount.
  • After the Commencement Date on the fixed premium rate option, you are unable to change the premium option you have selected, without cancelling and restarting your cover.

Australian Seniors Insurance Agency

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The Over 50’s Insurance specialist

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