Pre-Planning a Funeral
Pre-Payment Options

There are two pre-payment options:

What are the advantages of investing in a funeral bond?

A funeral bond provides several financial advantages:

The funeral bond is a simple, individual and effective way to put aside money to help meet the future cost of funeral expenses. Best described as a ‘savings account’.
Currently up to $10,000 can be invested.
For low income families and pensioners, often this is the only way they can contribute to the cost of a funeral.
The funeral bond is exempt under Centrelink’s Pension’s Asset and Income Test so it can help to maximise pension entitlement.
The funds are invested securely with Funeral Plan Management (and in some cases Bendigo Bank).
All bonds can be paid by instalments on a fortnightly, monthly or quarterly basis that suits the client and automatically debited from a specified bank account without any initial deposit.
A minimum of $50 per month (suggestion of $25 a fortnight on pension day).
An amount of $500 must be deposited if no direct debit is authorised.
Additional payments can be added at any time.
Once the $5000 limit has been secured it is advised that the client cover the ‘gap’ between what is in the account and the current cost of their funeral to a set priced contract.

What are the financial benefits of prepaying a funeral?

A prepaid funeral plan provides you with several financial benefits:

The funeral arrangement is purchased at today’s cost and fixed forever regardless of inflation and future price increases (any further costs incurred will be additions after the completion of the contract)
The funeral plan is exempt under both the Social Security Pension’s Asset and Income Test so it maximises pension entitlement
The funds are invested securely with Life Plan Fund Management in compliance with the Victorian prepaid funerals legislation
Prepaying the funeral will eliminate the financial commitment and difficult decisions often left with family members and/or executors
All plans are tailored to individual needs and formally documented in a contract.

Tuckers guarantee that:

You have the peace of mind in knowing that what you have planned and paid for will be carried out according to your wishes when the time comes. The money you pay for your pre paid funeral plan is held independently, invested and safeguarded until it is required.
It is a good practice to keep your contract along with other important documents in a safe place, and inform your family or legal representative where they are kept.