May2013_Read the fine print
. . . . if taking out funeral insurance
There are concerns within the community about the amount of funeral insurance advertising, and also about the increasing number of stories about poor outcomes for some policy holders.
The 2010 Rice Warner report into prefunding funeral costs explains that funeral insurance has very limited benefits compared to a prepaid funeral.
With a prepaid funeral, costs are fixed in today’s dollars, the service is guaranteed and you can tailor the service to your wishes. With funeral insurance, the family still has to make all the choices at an emotional time, and your premiums keep rising until age 90. And if, at some stage, you can’t make the payments, all the benefit is gone when the policy is cancelled.
There are a wide range of other financial benefits to a prepaid funeral, including for pensioners.
Please read the fine print of any policy to make sure it meets your needs, and make sure you know how much you will end up paying. You can come in to your nearest George Hartnett Funerals for more information about the benefits of prepaying a funeral.
PATSY CAINS
(Local resident of Dayboro)
George Hartnett Funerals
Albany Creek
Ph 3325 5055.
