Compare prepaid vs funeral insurance

Use our comparison tool to compare the cost of a prepaid funeral to the cost of a funeral insurance policy. Funeral insurance requires you to keep paying your premiums or they will no longer cover you. With a prepaid funeral you avoid that.

A prepaid funeral with us ensures ultimate care for you, your wishes and your family. Our ladies will be the strength and support at your family's side during what is a difficult time. To discuss your options with one of our ladies, please call (08) 9388 1623.

The Calculator

Compare the funeral costs of a prepaid funeral plan, funeral insurance and no protection in a few simple steps.

Please note: the figure of $6,500 is for comparison purposes only. As there are a wide range of funeral choices, your prepaid funeral plan may be less or more expensive based on the choices you make.

Full disclaimer available below the calculator.

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Results

  • Prepaid Funeral Plan

    With a prepaid funeral plan you pay for your future funeral service today, all at once or in easy to manage instalments.

  • Funeral Insurance

    With funeral cover from an insurance provider you pay a monthly premium until you pass away in order to benefit from the insurance pay out.

  • No Insurance or Prepaid Funeral

    This sum is indicative of what your funeral spend selected above would be after inflation at the time of your estimated life expectancy.

Disclaimer

The default figure of $6,500 is for comparison purposes only. This value is an estimated average based on estimates from ASIC - average price quoted for a funeral can begin from $4,000 to $15,000 (https://www.moneysmart.gov.au/life-events-and-you/over-55s/paying-for-your-funeral).

As there are a wide range of funeral choices, your Prepaid Funeral Plan may be less or more expensive based on the choices you make. The cost of a prepaid funeral will vary depending on the inclusions within the agreement. Any services required in addition to the original agreement may incur extra costs.

Funeral insurance figures are based on averages of funeral insurance rates across the market, from 18 products through 8 insurers, and averages have been taken across each segment of the market weighted by the market share of each product. The calculator, including the default assumptions adopted, has been prepared by Rice Warner Pty Ltd (Rice Warner). Rice Warner has advised the default assumptions adopted are reasonable as at 12 April 2019.

The default cover amount and funeral insurance results take into account your life expectancy, the effects of inflation, and is an average of funeral insurance rates across the market. 

The calculations and results produced by the calculator are for illustration purposes only and are not intended as a substitute for any specific financial advice you may obtain. You should not make any financial decisions based on this calculator without first consulting your licensed financial adviser.

The one off payment figure in the calculator is based on the effects of inflation, given the purchase of a funeral at the time of your death (calculated based on the assumption you die at your life expectancy).

 

How to get started

Either come into one of our funeral homes located throughout Perth, or give us a call, and we will walk you through every stage of the planning process. Rest assured that we’ll proceed at a relaxed pace and give you the chance to explain all personal touches you’d like included.

Feel free to send us your details below and one of our funeral consultants will be in touch to talk you through your prepaid funeral plan options.