The option of a Pre-paid Funeral Plan or Bond gives your family peace of mind by protecting them from the distress of having to find substantial funds at relatively short notice, as well as ensuring your exact wishes are made known and carried out.
• A Pre-Paid Funeral allows you to arrange all the details for your funeral and lock in the cost at today’s prices.
• A Funeral Bond is like a savings plan and is an option when the cost of pre-paying a funeral outright is prohibitive.
For Centrelink or Veterans’ Affairs pension recipients, both the Pre-Paid Funeral Plan and Bond may enable you to maximize your pension entitlement and the money spent is not subject to the income and assets test or deemed earnings rules (according to legislation as of March 2008).
A Prepaid Funeral Plan allows you to plan your funeral service in advance and pay at today’s prices. Your choices are documented and we then guarantee to conduct the funeral at the cost stated in the Contract, even though it may be many years before the funeral takes place.
A Funeral Bond is an interest bearing ‘savings account’ specifically set aside for your funeral. Unlike a Prepaid Plan, a Bond does not lock in the funeral prices. When the bond is fully paid and interest added it is estimated to cover the cost of the funeral. Should there be a shortfall between the values of the bond compared with the final cost of the funeral; an invoice will be issued by Logan Funerals for the difference. If there are excess funds, that amount is paid back to the estate.
Your financial investment is managed Foresters Friendly Society, a professional third party and is only accessible by Logan Funerals after the funeral service has been conducted. Prepaid funeral funds are protected by government legislation.
Pre-arranging a funeral is another alternative where arrangements are discussed with a Funeral Consultant and details kept on file, though no payment is made. This can be an option for those who are close to passing away and family wish to put arrangements in place, rather than trying to make decisions as they grieve.
If you have pre-paid your cremation and placement of ashes or grave including headstone and plaque with a cemetery or crematorium, we recommend you ensure your family, executor or solicitor knows where the documents / receipts are kept and have a very clear understanding of the arrangements you have made and what has been paid for. Families are sometimes not fully aware of exactly what has been paid for and assume complete payment has been made, when in fact there may still be monies owed.
Please call one of our Pre-planning Consultants if you would like more information or to make an appointment to put a Prepaid or Funeral Bond in place or would like to pre-arrange a funeral:
07 3341 4111