Funeral Savings Fund
Fair Wealth Australia members can save and be ready for when the unthinkable happens.
A funeral savings fund is simply a savings plan that helps you reach a financial target for your funeral. As funeral expenses are an expense everyone must pay sooner or later, this savings fund can benefit you to reach your goal and earn interest in the process. This gives you peace of mind, knowing that you have already saved money to cover the cost of your funeral and there won’t be any financial pressure placed on your family.
Earn 5% on your Funeral Savings Account.
We have established a savings contribution funeral fund that works by making regular payments that will receive compound interest annually.
You can save as little as $2 per week and earn a competitive 5% interest on the money you contribute. When planning ahead, the option of a savings plan is surprisingly efficient. A few dollars a week can grow into thousands thanks to the power of compound interest.
Simply choose your target savings and the level of contribution and you can be guaranteed a good sum when you need it.
We can help you set a target amount and provide a structured plan or you can simply have complete freedom and flexibility to add an amount that suits you.
Funeral savings can be used to pay for a prepaid funeral service or recorded in your will if any remaining money is left to pay off the funeral.
Gain a competitive 5% per annum on your savings balance towards your funeral
The power of compounding interest
Release funds for you and your partners funeral expenses
Minimum of only $2 per week no maximum cap
Lump sum contributions accepted
Non-contributing members still receive 5% p.a
Quick release of funds – Usually within 72 hours
Can be used as a funeral contribution fund without affecting pension (up to $13,000)
Things you should know
You cannot release your funds for any reason other than funeral expenses for yourself or your partner