Preneed funeral bonds are financial products designed to cover future funeral costs, but they do not guarantee full coverage and their impact on government pensions depends on specific asset tests. It is essential to review the product details and consider personal financial circumstances before purchasing.
Research On Preneed Funeral Bonds
The founding principles of Foresters Financial are to provide financial and social benefits as well as support to Members and their families in times of unemployment, illness, death, incapacity and old age. If you are already well below the Centrelink Asset Test Taper Rate threshold, then prepaying may have no impact on your Centrelink pension, as your assessable income is likely to drop by the amount of interest or other earnings you would have received on that capital.
If your funeral bond is not assets test exempt, then the current value of your bond is assessed as a financial asset under the Centrelink deemed income rules.
Preneed Funeral Bonds, A Guide For You
We write Funeral & Burial Trust Fund Surety Bonds in North Carolina. Your use of this website is subject to the website Terms of Use. Any advice provided is general only and does not consider your objectives, financial situation or needs. You should carefully read the relevant Product Disclosure Statement (PDS) to ensure the product is right for you. A copy of each PDS is available on this website or by contacting us. All products are promoted and distributed by Australian Seniors Insurance Agency, a trading name of Greenstone Financial Services Pty Ltd (ABN 53 128 692 884, AFSL 343079). The insurer for Car, Home, Landlord and Pet Insurance products is The Hollard Insurance Company Pty Ltd (ABN 78 090 584 473), for Funeral Insurance products is Hannover Re of Australasia Ltd (ABN 37 062 395 484) and for Travel Insurance is Chubb Insurance Australia Limited (ABN 23 001 642 020).
To apply for a Sureplan Gold Funeral Bond. Please download the forms below, complete and return to Sylvan Funerals. Alternatively, a Sylvan Consultant can meet with you in our office or your home to complete the paperwork along with a funeral prearrangement. Call 3812 4000 to make an appointment.
Not guaranteed to cover the cost of your funeral – While a prepaid funeral will guarantee that you get the funeral you pre-plan by paying the cost up front at today’s prices, a funeral bond does not guarantee that the amount saved and earned under the bond will be sufficient to cover all funeral expenses when the time comes.
What Is A Funeral Bond?
We write Funeral & Burial Trust Fund Surety Bonds in North Carolina. Tailor your plan to meet your needs – your funeral service, your way, to fit your budget. Another way to prepay your funeral is to use a funeral bond.
You can pay for the funeral bond in instalments but be sure to understand all the costs before you sign up. You must read the bond’s prospectus or PDS to determine the specific fees, terms, and conditions.
- Compare the bond’s interest rate and any management fees.
- Confirm the bond’s status regarding Centrelink asset tests.
- Understand the process for your beneficiaries to claim the funds.
- Check if the bond is portable between different funeral providers.
All About Preneed Funeral Bonds
The founding principles of Foresters Financial are to provide financial and social benefits as well as support to Members and their families in times of unemployment, illness, death, disability and old age. To invest in our Funeral Bonds, either fill in the following enquiry form or download the Sureplan Gold Application Form , or free call 1800 817 105 during normal working hours.