Funeral Insurance Pitfalls

By: James MacLeod - Managing Director, Tobin Brothers Funerals
Wednesday, November 11, 2015

This week I read an article on news.com.au which highlights the recent report from the Australian Securities and Investments Commission (ASIC) regarding Funeral Insurance. The report states that “in 2014, the number of funeral insurance policies cancelled was 80 per cent of the number of policies sold, with cost the main reason for cancelling…” Mitchell Watson from the research group Canstar says “If you’re under the age of sixty there are probably far more cost-effective ways to fund your funeral” and ASIC recommends prepaid funerals and funeral bonds as a better alternative.

We at Tobin Brothers Funerals see time and time again, the benefits to families when their loved one has pre-arranged a funeral with a Fixed Price Funeral Plan. We also too often care for increasing numbers of clients who have paid monies into Funeral Insurance funds in good faith, only to find that due to missed payments when they have been ill or in hospital, they are not eligible for any reimbursement. This sets them back to square one with their funeral arrangement and costs that sometimes involve a loss of thousands of dollars.

With a pre-paid Fixed Price Funeral Plan with Tobin Brothers Funerals, the cost is set; once it is paid it is paid, and you will avoid this all too common pitfall associated with Funeral Insurance offered by other companies.

To read more of the article on news.com.au and make up your own mind, click here.

James MacLeod – Managing Director, Tobin Brothers Funerals

 

 

 

Leave a comment
Name*:
Email:
Comment*:
Please enter the numbers and letters you see in the image.

Comments

Please wait

Previous Posts

Coping at Christmas 2018

If you have experienced loss the whole festive season can be extremely challenging.   Time and time again people have said to us they wish they could go to bed at the end of November and wake...

Celebrating Father Gerard Dowling’s 45 Years on Air

Congratulations to our great friend Father Gerard Dowling OAM DE as he celebrates the huge milestone of reaching 45 years on air! Father Dowling hosts a regular spot on the RSN 927 AM every Sunday ...

Father's Day 2018

  Father’s Day is certainly a different occasion for me today because my father died in 1998.  In fact Father’s Day 1998 was the last occasion that we had gathered as an entire family, m...

Valda Twaddle Trust Awards 2017

In 2006 I received a telephone call from Perry Westons Lawyers regarding funds that were bequeathed to me.  I made an appointment to attend their offices and in doing so I learnt that Valda Tw...

Funerals Are Too Important To Leave To Just Anyone

As Managing Director of Australia’s largest owned family funeral company, Tobin Brothers Funerals, I would like to make the following comments on the widely reported alleged coffin swapping by Hart...

The Life Celebration of Daniel Harkins

On 18th June 2017, Daniel John Edward Harkins was returning from Bairnsdale after a race meeting when he stopped to assist a car that had run off the road between Sale and Rosedale, he was tra...

It’s your funeral, an investigation of death care in the Funeral Industry in Australia Comment

  As Managing Director of Tobin Brothers I’d like to make the following comments on a recently released paper “It’s your funeral, an investigation of death care in the Funeral Industry...

Coping at Christmas

Christmas in many ways is about change. As a child growing up, our Christmas meant an early rise and our pilgrimage would begin to my mother’s home town Willuara at the foothills of the Grampians,...

Mother's Day Can Be A Very Difficult Day

Mother’s Day is a wonderful opportunity for us all to give thanks to the unique individuals, often affectionately known as Mum, Mother or Ma, who have cared for each and every one of us. Equally, ...

How Would You Like To Be Celebrated?

In recent months Tobin Brothers Funerals, with the assistance of Creative Director Robin Geradts-Gill from RGG Creative, produced four new TV ads that posed the question ‘How would you like to be c...