The Benefits of Prepaid Funerals

Human beings are hardwired to plan for our future. We plan for marriage, the future of our children and every other major event in our lives. Therefore, it makes sense that some people want to make preparations for their last rite before they pass away.

Preplanning your funeral makes sense. Not only do prepaid funerals ease a lot of stress for your family but it also gives you the freedom to plan out how you want things to go during your funeral, even after you have passed away.

Prepaid funerals are exactly what they sound like: planning, contracting and paying for your funeral now, so all your affairs are in order before you pass on. This is quickly becoming the preferred choice for those who want to ensure everything is taken care of. Most prepaid funeral plans available today can be paid for in full or in instalments and help you save on the cost of your funeral.

The process of investing in a prepaid funeral varies depending on the service you use. We provide simple and easy prepaid funeral plans at Whitsunday Funerals and Crematorium. As a local family business with local family values, we are dedicated to helping you organise the funeral you entrust us with.

The Prepaid Funerals Contract 

Irrespective of what service you choose to use, you will be required to sign a prepaid funeral contract which describes your funeral in detail. It will also include a list of all the items needed and a total price based on their costs at the time.

Besides some standard costs like the professional service fee, for the funeral director (the person in charge of planning and coordinating the funeral) and the cemetery or cremation fees, you may also pay in advance for many features that will feature as part of your funeral on that day. These include:

  • choice of burial or cremation
  • coffin or casket
  • type of funeral
  • location
  • any special arrangements or customs
  • unique additions such as flowers, music, speeches etc
  • legal documentation.


Benefits of Prepaid Funerals

It turns out only thirteen per cent of Australian seniors have prepared for their own funeral. While it’s hard to think about your funeral while alive, much less preplanning for it, there are a lot of benefits in doing so. The most obvious is that prepaid funeral plans relieve your friends and family of the financial and emotional strain after you move on.

Here are some extra benefits to consider that a prepaid funeral plan affords you:

Save More Money in the Long Run

The prices of funerals are only going to go up over time and by paying today’s rates, you could potentially save money on your funeral. Since costs are locked at today’s prices regardless of whether you pay in full or in instalments, your loved ones don’t have to worry about price increases in the future.

With the median cost of a funeral in Australia being $19000 in Australia, it can’t hurt to save money where you can.

Unburden Your Family

Prepaid funerals protect your family financially at a time when they may be forced to make tough emotional decisions. When your prepaid funeral plan fees are paid in full, you can rest assured that your family will not incur any financial burdens due to funeral expenses, especially if they can’t afford a funeral.

Perhaps most importantly, you save your family from many decisions and financial stress during a time which is most taxing for them.

Pay Over a Period of Time

Some prepaid funeral plans offer funeral bonds investment funds that work just like any bank savings account. Except that you cannot withdraw money and the proceeds can only be paid to your next of kin on behalf of your estate upon death. This way, you can pay off your funeral expenses by contributing either a lump sum or making regular payments over a set period.

At Whitsunday Funerals and Crematorium, we’ve partnered with the reputable company Sureplan. Here’s how their process works:

How it Works

  1. You contribute amounts either as a lump sum or by regular payments.
  2. A bonus (based on fund earnings) may be allocated to your investment annually.
  3. On your death, your contribution and bonuses are paid to your nominee to help pay your funeral costs.

Assists With Government Payments

The government doesn’t account for your prepaid funeral plan in your assets test, which can be helpful when you are receiving or applying for a range of government incentives and benefits. As at 1 July 2019 the allowable limit is $13 250 to be exempt from your income and assets test.


Thinking about your funeral is never easy but we’re here to help you choose the best prepaid funeral plan. Let’s have a chat today.