Embrace Peace of Mind: Plan Ahead for Your Funeral
Similar to a life insurance policy, a Funeral Bond is an investment that ensures financial support upon one’s passing. The benefit becomes payable upon death, serving as a dedicated fund to cover the individuals funeral expenses. Investing in a Funeral Bond is a proactive step towards preparing for the financial aspects of a funeral.
Funeral Bonds are assets test exempt provided:-
- you hold no more that two funeral bonds,
- the combined value of bonds does not exceed the current funeral bond threshold ($15,000 as at 1st July 2023),
- there is no pre-paid funeral already in place and
- the Funeral Bond has a funeral director allocated.
Funeral Bonds are invested in an independently managed funeral fund and are only released upon death. At Heritage & Heritage Funerals our Funeral Bonds are invested with Foresters Financial. Please feel free to look at Foresters Financial web site for further information www.forestersfinancial.com.au/products/funeral-bond/
A Funeral Bond is an investment towards the costs of a funeral and does not guarantee against price increases. If you are interested in investing in a Funeral Bond we can provide an estimate of what your funeral would cost today and suggest that you pay more into the funeral bond. You are also able to make additional contributions to your Funeral Bond directly to Foresters Financial at any time.
When the time comes the Funeral Bond is paid to us to cover funeral costs with any remaining balance returned to the estate. In the event that the Funeral Bond does not have sufficient funds to cover the funeral costs the family will be responsible for covering the remaining balance.
If you would like more information on Funeral Bonds or are interested in arranging a Funeral Bond with Heritage & Heritage Funerals please contact our office.