Get your questions answered right here
FAQs on most pages, and a number of general ones here for your interest.
Journey Cover is insurance that covers our members who are travelling to and from work in the case of an accident. This policy is underwritten by AIG and the product disclosure statement specific to this product can be found here.
Members who have journey cover with us are covered for 85% up to $1,200 per week for a period of 104 weeks.
14 days
If this tragedy occurs, a payment of $50,000 is made to your estate under this policy.
There is a 14-day cooling off period within the journey cover policy. Premiums within the cooling off period can be refunded. If you cancel your policy outside the cooling off period we are unable to refund any premiums paid.
The average cost of a funeral in Australia ranges from around $4,000 to $15,000 depending on whether you opt for a cremation or burial and how elaborate the ceremony is. In reality, a funeral can be as expensive as you want it to be. The cost of a traditional funeral usually includes the funeral director’s fee, as well as the price of a casket, burial plot, flowers, and transport. These items can add up to a significant amount, and this amount will continue to rise with inflation. For example, the Australian Seniors Cost of Death Report found that the average cost of a premium burial in Australia is $11,279, with some services costing as much as $19,000.
Funeral costs include ceremonial requirements like a burial plot, celebrant or undertaker service, to the added extras like flowers or catering, cars, cremation certificates and embalming fees.
You should cover these costs with either Funeral Insurance Cover or a Funeral Savings Fund to provide your family with the money they need just when they need it - as it eliminates a critical stress at a very sensitive time.
Funeral insurance is paid in the form of a lump sum benefit that your family can use to pay immediate expenses, such as your funeral service. You choose the cover amount to suit you, and pay ongoing premium payments, usually weekly, fortnightly or monthly. In the event of a claim, your beneficiary will receive your cover amount.
You should consider Funeral Insurance Cover if you wish to ensure your family has the money to provide you with an appropriate send off when you pass. It also saves them financial stress at a terrible time. Anyone can take up funeral insurance cover with Fair Wealth Australia so long as you are under 80 years old. There are no medical tests required.
As per any insurance cover, funeral insurance can cost you more in premiums than the benefit your family will receive. You must also remember that if you stop making repayments, you lose what you've already paid. This is why some people prefer to start a Funeral Savings Fund.
In most cases, funeral insurance premiums are not tax deductible. But there’s generally no tax on the benefits that you or your beneficiaries will receive. However, it’s always possible that tax laws may change in future. What’s more, this may not apply to your specific situation. So, it’s important to seek qualified professional advice about the tax implications of any insurance product.
Fair Wealth Australia Funeral Cover helps protect your family from the costs of your funeral and other expenses after you’ve gone. When you take out Funeral Insurance Cover from Fair Wealth Australia, we’ll pay your chosen benefit (from $2,500 up to $15,000) to your family quickly – generally within 3 business days of receiving completed documents.
We have two different policies from which to choose:
Cover until 80 years of age. Which starts from $2.50 per week for $2,500 cover and up to $15 per week for $15,000 cover.
Our second option is lifetime cover, which you can request a quote based on your age if you are under 75 years of age.
Funeral Insurance is a guaranteed product that provides financial assistance to your family when you pass away. The money can be used to help pay for your funeral or any other expenses as soon as they arise. You will receive this payout no matter how short or long you have been paying premiums.
A Funeral Savings Fund is essentially a special savings account that accrues excellent 5% per annum interest over time (in good years and bad) and can be withdrawn after you pass away. It ensures that you get every cent of the money you have contributed, plus accrued interest.
Yes. Your parents must be aged 79 or under.
Fair Wealth Australia members can cover themselves for their funeral for benefits from $2,500 up to $15,000.
You are covered until the age of 80 years old with a Fair Wealth Australia insurance policy. You can also request a policy that covers you for life. Call us on 1300 216 215 for more details.
Fair Wealth Australia does not increase premiums as you get older. They will change if you apply to change your cover amount or we change the premium rates for your policy.
Cover is only for accidental death in the first 12 months of your policy up to $10,000 and 24 months accidental death only for policies over $10,000. If the death is not an accident and within the accidental death only period, unfortunately the insurance cover can not be paid.
If you cancel your policy or payments are not received for a 3-month period, then your policy will be cancelled and there will no longer be an active funeral cover to claim.
We have a 30-day cooling off period. If you have paid premiums within this period and decide the funeral cover is not for you, we can refund the premiums you paid within the 30 days. Any premiums paid outside of the cooling off period are non-refundable.
Fair Wealth Australia is a membership owned non for-profit organisation that unites the potential of humanity to bring people and communities together in times of need. For over 75 years we have combined members generosity to build strength in various services to achieve positive outcomes for those in need.
Membership to join Fair Wealth Australia is open to all. You will need to be currently employed to join as most of our benefits are structured to cater to those in the workforce. We do however have membership options for those who have retired and are no longer in the workforce.
Every member has their own reason for joining. We would like to think by joining to become a part of our team, you have a safety net which will look after you in times of need. At the same time you will be contributing to help the greater community.
In a nutshell, becoming a member is beneficial because:
You are belonging to a wider community
A safety net of support when you need assistance financially in times of need by providing assistance through various grants or loans.
Provide emotional support through counselling, art therapy, ongoing support and networks.
Access to membership events and fundraising
Regular updates and support from a team that has been helping Australians for over 75 years
To give back to local communities and industries that help make a big impact Australia wide.
For specific products and services check out the rest of our website or give us a call if you’d like to discuss the membership further.
Specifically for grants, you will need to be a contributing member for 3 months in order to apply. If you have your membership upgraded or varied to include additional covers the waiting period for the extension benefit is also 3 months. Waivers for special circumstances need board approval.
We have two options of payments. Setting up a reoccurring direct debit for a frequency that suits you. Membership payments can be made, weekly, fortnight monthly, quarterly or yearly.
For the transport workers in NSW, payroll deduction is available to have the membership deducted from each fortnightly pay.
Membership levels of cover can be increased or decreased at any time. Waiting periods can apply on upgraded benefits and conditions may apply.
Our counsellor is Frank Fontana who is a qualified counsellor and has over 30 years’ experience helping clients using schema therapy and existential counselling.
Our sessions are booked in for 1 hour.
Our members can have 10 - 20 sessions at no additional charge to your membership plan per year. For non-members it costs $88.00 per session. If members have used all of their sessions, they have a 50% discount on any additional sessions that fall in that calendar year.
Depending on availability, weekly or fortnightly sessions to begin with are common. However, our counsellor can arrange a flexible schedule to cater for the individual’s needs.
Art therapy is used when clients prefer non-verbal techniques for expressing their needs. All sorts of arts and crafts are used in art therapy and individuals are not necessarily experienced in artistic techniques. We work with whatever medium works best with the client.
Donations over $2 may be tax deductible depending on your own personal tax position.
No. We do not allow our sponsors to meet the children they are sponsoring. This is simply because Fair Wealth Australia is committed to protecting the safety and wellbeing of our member children, families and communities with whom we work and consider anonymity an important facor in that regard.
No. Fair Wealth Australia does not facilitate a meeting between you and your sponsored child. The focus of child sponsorship is on improving the lives of children by providing them with the support they need from your sponsorship.
A sick and accident grant is a monetary grant given to members to assist in times of financial distress due to illness, injury, or other medical circumstances preventing the member from working, resulting in lost income.
Individual sick and accident cover allows the member to apply for a grant when these circumstances apply directly to the member themselves. Family cover allows for a member to apply for a grant when the circumstances apply to someone in their direct family such as a parent, sibling, partner or child.
If you are a member and have the benefit as a part of your membership you are able to apply for a grant.
3 month waiting period before applying for a grant applies to new members. Membership payments must be up to date to apply.
For any specific claim, approvals are determined based on the member’s circumstances including lost income, outstanding medical costs, medical costs already paid, outstanding bills and the urgency of the bills outstanding (non-medical). As the sick and accident grant is a discretionary benefit, the amount approved is determined by the assessor, not the applicant.
Depending on the circumstance, if the member is financially impacted directly, it would be under the individual policy. If the member of the policy is impacted financially due to the impact that has occurred to a family member and had an impact on the members financial position that would be assessed under the family grant.
The short answer is no. Members have selected levels of cover when they obtain membership so that if a situation does arise, they have a safety net to apply for a grant in times of need.
Assessment times are generally between 24-72 hours. If all the documents have been collected and the grants officer can approve the grant, it is paid on the day of approval and transferred into the nominated account. Grants are paid before 4:30pm weekdays.
Documents vary depending on the situation, you will need these mandatory documents to successfully apply, your latest payslip, photo ID and the last 90 days of bank statements.
You will also need to submit supporting documents to support your claim, such as medical certificates, invoices, outstanding bills or anything to help strengthen your case.
You will also need to answer the application questions like your name, address, phone numbers, and employment details. Along with your BSB and account number for where you would like the money transferred once you are successful.
Sick and Accident grants are a discretionary product and approval amounts are determined on a case-by-case basis. The maximum you can be paid within a rolling 12-month period is dictated by your level of cover. For example, a $2,500 cover means you can be paid up to a cumulative $2,500 within 12 months.
Our assessment criteria determines the severity of circumstances, and in most cases an approval is given that enables the member to re-apply within the 12 month period if necessary
Fair Wealth Australia members can cover themselves for their funeral for benefits from $2,500 up to $15,000.
With a fair wealth membership policy, the insurance will cover you until the age of 80. You can choose a policy that covers you for life by requesting a quote.
The premiums are level which means they are designed to not increase every year as you get older. They will change if you apply to change your cover amount or we change the premium rates for your policy.
Cover is only for accidental death in the first 12 months of your policy up to $10,000 and 24 months accidental death only for policies over $10,000.
If the death is not an accident and within the accidental death only period, unfortunately the insurance cover will not be paid.
If you cancel your policy or payments are not received for a 3 month period your policy will be cancelled and there will no longer be an active funeral cover to claim.
We have a 30-day cooling off period. If you have paid premiums within this period and decide the funeral cover is not for you, we can refund the premiums you paid within the 30 days. Any premiums paid outside of the cooling off period are non-refundable.
We look at a number of different lenders to assess your tailored situation, the interest rate with different lenders varies based on a number of factors, such as credit score and financial history. To find out what your rate will be, get in touch and we can provide you with a quote. It is quick to fill out the form to find out your rate and is completely obligation free.
For our members we waive the introduction fee up to $900. So, the only fees you will pay are to the specific lender for the loan you choose. We do not charge anything on top to find you the loan.
Our brokers can find personal loans for you from $5,000 to a maximum of $80,000, for either 3, 5 or 7 years. It should be noted however, the maximum amount will depend on a number of factors including your credit history.
Anyone who is over 18 years old and a citizen or permanent resident, currently living in Australia, who is employed and earns at least $20,000 per year (the majority of your income cannot be from Government benefits) can apply.
When you get a rate estimate from us we access your credit file in a way that is not visible to other credit providers and does not affect your credit score. When you do decide to submit a full loan application to a particular lender. They will do what is called a 'full credit enquiry' which other credit providers can see and which might affect your score.
Fair Wealth Australia is a mutual fund with a discretionary benefit with grants paid on merit.
The contributions are directed into a pool to operate the organisation and distribute grants. The Funeral Savings are for funeral products only.
The Fair Wealth Australia Board is elected from the membership. The Secretary is a paid employee.
Fair Wealth Australia is a non-profit organisation. Any surplus profits are invested back into the Fund.
We have found that the people most in need are least able to afford membership. Therefore, we have devised a program where families and individuals in need can get assistance by applying to receive sponsorship.
Sponsored members are screened and their privacy protected. They will make claims like any other member. The sponsor will choose to assist either an individual or family.
We will report using statistics to inform the general membership and sponsors of claims and progress made through the sponsorship program.
You can donate to one or more of several programs that the fund has put into place. Examples are, donations to the trust which gives to established charities. Donations can be made to specific organisations such as the children’s medical research institute (CRMI) or any charity of your choice. You can make one off donations to the fund itself rather than ongoing payments. You can support the annual picnic and fundraising events.
A donation to the Welfare fund trust fund is tax deductible.
Even if your cause, for instance the death of a work mate is not a registered charity. You can help them through our Helper Mate program. Which was set up to help fundraise through our networks for one off nominated causes.
Board members are elected from the membership at an Annual General Meeting. We have a recruitment policy so that we can ensure the continuity on the board.
There are no strict criteria to become a board member. However, the board requires both ex transport employees and is looking to recruit expertise from outside the transport industry.
As we are a non for profit, we don’t require formal education and we train directors in particular areas where they will serve the board.
Fair Wealth Australia is committed to being inclusive and has had board members from a range of diverse backgrounds, ethnicity, religion, gender and sexuality.
It is to help members in the immediate aftermath of a storm, earthquake, fire, or flood. It is to help people in the initial phase where in some cases they have just gotten out with the clothes on their back. It is a discretionary payment made for emergency situations such as accommodation, clothing, and food.
Active members who are up to date for over 3 months can apply.
The grant is for up to $1,000 per claim.
Members can apply more than once for a separate event.
To apply you will need to fill out our application form including supplying supporting photos.
The short answer is no. Members have selected levels of cover when they obtain membership so that if a situation does arise, they have a safety net to apply for a grant in times of need.
Assessment times are generally between 24-72 hours. If all the documents have been collected and the claims officer can approve the grant, it is paid on the day of approval and transferred into the nominated account. Claims are paid before 4:30pm weekdays.
It is a financial grant designed to help members in special emergency circumstances that don’t meet our other criteria. For example, after a relationship break down for the cost of finding accommodation, to help with groceries and domestic needs after a robbery.
Active members who are up to date for over 3 months can apply.
People have been assisted with a few hundred dollars and upwards depending on the circumstance.
Members can apply more than once for a separate event.
Assessment times are generally between 24-72 hours. If all the documents have been collected and the claims officer can approve the grant, it is paid on the day of approval and transferred into the nominated account. Claims are paid before 4:30pm weekdays.
The short answer is no. Members have selected levels of cover when they obtain membership so that if a situation does arise, they have a safety net to apply for a grant in times of need.
Documents vary depending on the situation, you will need these mandatory documents to successfully apply, your latest payslip, photo ID and the last 90 days of bank statements.
You will also need to submit supporting documents to support your claim, such as police report, outstanding bills or anything to help strengthen your case.
You will also need to answer the application questions like your name, address, phone numbers, and employment details. Along with your BSB and account number for where you would like the money transferred once you are successful.
3 month waiting period before applying for a grant applies to new members. Membership payments must be up to date to apply.
You can tap into our industry connections to access over 25 banks and 2500+ products. This gives you a lot more options outside of the standard Big 4 to find the home loan that is in your best interest and save you more or help you reach your financial goals.
To begin, we will personally look after you, listen to your specific situation and give you unbiased, complementary advice on what is possible. Next, we will walk you through the exact steps to save you money on your home loan.
Our mortgage health check is completely FREE –there is absolutely no cost to use our service as mortgage brokers.
If someone offered to save you thousands of dollars off your mortgage, you’d expect them to charge something? Not us! We get paid by the bank which allows our service to be free, meaning the savings stay in your pocket and you can enjoy our expertise.
We help people all across Australia. We have approved loans for clients in every state and territory.
Our primary office is in Parramatta however, with everything moving towards being done online we are able to help all across Australia.
If you have a tricky situation or need an approval when others say no, then you need an expert broker in your corner, not necessarily a local mortgage broker. You can have the comfort of your living room and still have access to our brokers at a time that suits you.
Many people are disappointed when the bank they have been with for years and sometimes decades say no. They might be in a bad situation, have a bad credit, outstanding loans or simply feel that because the bank said no that’s the only answer. Don’t let something like this hold you back.
We are real people who talk your language. No jargon and no judgement – we focus all our energy on saving you the most money and getting your loan approved, so you can replace your stress with the financial freedom to finally purchase that new home or take that dream holiday you deserve. With multiple lenders to access their policies and products we can structure a loan to get your desired outcome now or help you work towards it sooner, rather than a flat no.
Active members who are up to date for over 3 months can apply.
Our education grants are allocated in the first quarter of the calendar year.
The education grant is for $500 if you have a child that has education expenses in primary or secondary school. If the member is studying or has a child studying in University or tertiary studies the grant is for $250.
To apply you will need to fill out our application form including supplying the completed reference form from your child’s teacher.
You can apply online here or by contacting us and requesting a hard copy form.
Yes, we can find lenders that will lend for new or older car models.
We look at a number of different lenders to assess your tailored situation. The interest rate with different lenders varies based on a number of factors, such as credit score, financial history and car details. To find out what your rate will be, get in touch and we can provide you with a quote. We conduct a fact find with you and it is completely obligation free.
For our members we waive the introduction fee up to $900. So, the only fees you will pay are to the specific lender for the loan you choose. We do not charge anything on top to find you the loan.
Anyone who is over 18 years old and a citizen or permanent resident, currently living in Australia, who is employed and earns at least $20,000 per year (the majority of your income cannot be from Government benefits) can apply.
When you get a rate estimate from us we access your credit file in a way that is not visible to other credit providers and does not affect your credit score. When you do decide to submit a full loan application to a particular lender. They will do what is called a 'full credit enquiry' which other credit providers can see and which might affect your score.
We look at a number of different lenders to assess your tailored situation, the interest rate with different lenders varies based on a number of factors, such as credit score and financial history. To find out what your rate will be, get in touch and we can provide you with a quote. It is quick to fill out the form to find out your rate and is completely obligation free.
For our members we waive the introduction fee up to $900. So, the only fees you will pay are to the specific lender for the loan you choose. We do not charge anything on top to find you the loan.
Our brokers can find personal loans for you from $5,000 to a maximum of $80,000, for either 3, 5 or 7 years. It should be noted however, the maximum amount will depend on a number of factors including your credit history.
Anyone who is over 18 years old and a citizen or permanent resident, currently living in Australia, who is employed and earns at least $20,000 per year (the majority of your income cannot be from Government benefits) can apply.
When you get a rate estimate from us we access your credit file in a way that is not visible to other credit providers and does not affect your credit score. When you do decide to submit a full loan application to a particular lender. They will do what is called a 'full credit enquiry' which other credit providers can see and which might affect your score.
Yes, we can find lenders that will lend for new or older car models.
We look at a number of different lenders to assess your tailored situation. The interest rate with different lenders varies based on a number of factors, such as credit score, financial history and car details. To find out what your rate will be, get in touch and we can provide you with a quote. We conduct a fact find with you and it is completely obligation free.
For our members we waive the introduction fee up to $900. So, the only fees you will pay are to the specific lender for the loan you choose. We do not charge anything on top to find you the loan.
Anyone who is over 18 years old and a citizen or permanent resident, currently living in Australia, who is employed and earns at least $20,000 per year (the majority of your income cannot be from Government benefits) can apply.
When you get a rate estimate from us we access your credit file in a way that is not visible to other credit providers and does not affect your credit score. When you do decide to submit a full loan application to a particular lender. They will do what is called a 'full credit enquiry' which other credit providers can see and which might affect your score.
It is to help members in the immediate aftermath of a storm, earthquake, fire, or flood. It is to help people in the initial phase where in some cases they have just gotten out with the clothes on their back. It is a discretionary payment made for emergency situations such as accommodation, clothing, and food.
Active members who are up to date for over 3 months can apply.
The grant is for up to $1,000 per claim.
Members can apply more than once for a separate event.
To apply you will need to fill out our application form including supplying supporting photos.
The short answer is no. Members have selected levels of cover when they obtain membership so that if a situation does arise, they have a safety net to apply for a grant in times of need.
Assessment times are generally between 24-72 hours. If all the documents have been collected and the claims officer can approve the grant, it is paid on the day of approval and transferred into the nominated account. Claims are paid before 4:30pm weekdays.
It is to help members in special emergency circumstances that don’t meet our other criteria. For example, after a relationship break down for the cost of finding accommodation, to help with groceries and domestic needs after a robbery.
Active members who are up to date for over 3 months can apply.
People have been assisted with a few hundred dollars and upwards depending on the circumstance.
Members can apply more than once for a separate event.
Assessment times are generally between 24-72 hours. If all the documents have been collected and the claims officer can approve the grant, it is paid on the day of approval and transferred into the nominated account. Claims are paid before 4:30pm weekdays.
The short answer is no. Members have selected levels of cover when they obtain membership so that if a situation does arise, they have a safety net to apply for a grant in times of need.
Documents vary depending on the situation, you will need these mandatory documents to successfully apply, your latest payslip, photo ID and the last 90 days of bank statements. You will also need to submit supporting documents to support your claim, such as police report, outstanding bills or anything to help strengthen your case. You will also need to answer the application questions like your name, address, phone numbers, and employment details. Along with your BSB and account number for where you would like the money transferred once you are successful.
3 month waiting period before applying for a grant applies to new members. Membership payments must be up to date to apply.
Board members are elected from the membership at an Annual General Meeting. We have a recruitment policy so that we can ensure the continuity on the board.
There are no strict criteria to become a board member. However, the board requires both ex transport employees and is looking to recruit expertise from outside the transport industry. As we are a non for profit, we don’t require formal education and we train directors in particular areas where they will serve the board.
Fair Wealth Australia is committed to being inclusive and has had board members from a range of diverse backgrounds, ethnicity, religion, gender and sexuality.
Loans between $300 and $2,000 you will pay:
• Establishment fee: a one off fee between 12-20% of the principal amount borrowed.
• Monthly loan fee: 2-4% of the principal amount borrowed that is charged per month for the duration of the loan.
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Each loan has the exact cost on the credit contract which is sent out once an application is submitted and approved. You'll always see a clear breakdown of all your fees and repayments before you confirm your loan. You can customise your repayments to suit your needs.
If you have a Small Loan, the payment options range from 2 to 12 months.
The online application will require you to submit a minimum of 3 documents;
Proof of ID – Drivers licence, Passport or ID card
Latest Payslip
The last 90 days of bank statements
We also require any outstanding bills you have to strengthen the application submission. This helps verify your identification and the reason for the loan.
Generally the process is quick and easy so loans are funded the same day of the application. Therefore, the application process is dependent on you! If you successfully submit the application with the required documents, we will transfer the funds on the same day. The sooner we are provided with the required documentation, the quicker we can get it done!
Loans are based upon their own merits, meaning every case is assessed separately. Fair Wealth Australia does not renew small loans or refinancing of the small loan. If an increase of funds is needed then it you must apply for a new loan and the same fees will apply.