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.