Pre-paid and pre-arranged funerals

A funeral and the bereavement that goes with it will affect a family and loved ones both emotionally and financially, but with a little forethought and preplanning, we have the opportunity to relieve some of the burdens from those closest to us.

Pre-planning a funeral is one of the major financial planning decisions which is most often neglected, despite the fact that we plan for most other financial possibilities to protect ourselves and our loved ones.

Along with life insurance, health insurance and wills, funeral planning is an important safeguard to protect our loved ones after we are gone.  Funeral planning is very easy and protects your family emotionally as well as financially.  At the time of your death, a pre-planned funeral allows your family to spend their time coping with their loss rather than organizing your affairs.  A pre-planned funeral can also give you peace of mind knowing that your affairs are in order.

There are a few options for pre-planning funerals each with their own benefits, and different levels of protection for your loved ones:

Pre-Arranged Funeral

A pre-arranged funeral is where you sit down with the funeral director and consider the options you require for a funeral.  Some of the things you may consider are:

• The type and style of funeral
• Location of your funeral
• Whether you would prefer burial or cremation
• Which cemetery you would like to use
• Which type of coffin or casket
• Whether any notices or flowers are needed
• Your individual requirements such as poems prayers or music
• How much you would like to spend

Pre-Paid Funeral

A pre-paid funeral is a written contract between you and Riverland Funerals which details your pre-arranged funeral preferences and allows you to pay for it at today's price.  A pre-paid funeral attracts some of the following benefits:

• Protects your loved ones emotionally by removing the need to make important decisions at a difficult time
• Protects your loved ones financially from the costs associated with your funeral
• You can ensure your exact wishes are clear to your family
• You may be able to maximize your pension entitlement. Funeral funds are not subject to the income and assets test or the deemed earnings rules according to current legislation.

Funeral Bond

A Funeral bond is a special investment which allows you to put money aside on a weekly or monthly basis to cover the costs of your funeral in the event of your death.

Monies invested into a funeral bond may only be released for the purposes of your funeral. The funds are capital guaranteed meaning that although you aren't locking in today's prices your funds are safe and growing with interest to ensure that they will be there when your family needs them.

With a funeral bond, it is your choice whether you would also like to plan your funeral in advance, however this is not compulsory making a funeral bond one of the most flexible options for financial security.