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FORWARD PLAN A FAREWELL

that’s authentically you

Losing a loved one is a painful time for most families and is often compounded by the emotional and financial burden of organising a farewell immediately afterwards.  

That’s why Walter Carter Funerals pre-planned and pre-paid service makes sense, because it’s a practical way to alleviate the burden on your family and friends at what is an already difficult time 

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Make important decisions and arrangements for your own farewell

For some of us, the thought of planning our own funeral can be sad, but the key thing to remember is that it doesn’t have to be.

Instead, it should be viewed as a way for you to make important decisions and arrangements on how you will be farewelled, saving your family the emotional burden.

With the support and resources of the professional team at Walter Carter Funerals, you can craft the funeral you want – deciding on the type of service, whether you are buried or cremated, the type of music played, who gives the eulogy and many other elements of the service.

Your funeral paid by you as an investment

Walter Carter Funerals offers two options for you to ensure your funeral costs are not a burden for those you have left behind. Pre-paid funerals and funeral bonds each have specific benefits and the one that is right for you will depend on your individual circumstances. 

Walter Carter Funerals’ option to pre-pay for the farewell you have pre-planned, allows you to craft a farewell that is authentically you, at today’s prices.

The team at Walter Carter Funerals has a wealth of experience offering compassionate and professional support to those who want to explore this approach and they will help you understand your choices by guiding you through the process.

Pre-paid farewells offer both you and your family peace of mind. You benefit from the knowledge that your family can commemorate your life and begin the grieving process without the added stress of planning everything, while your family knows your farewell is exactly how you envisioned it.

In addition, the amount you pay for your pre-planned farewell is held independently of Walter Carter Funerals by Funeral Plan Management, ensuring that the money is securely invested and safeguarded in accordance with the Funeral Funds Act 1979 until it is needed. A conversation with your financial advisor may be helpful before making a decision.

PROS OF PRE-PAID FUNERALS
CONS OF PRE-PAID FUNERALS
Costs are fixed, so you can pre-pay for the funeral you want at today’s prices
If you change your mind about the pre-paid funeral, you will generally forfeit the administrative set-up fee and be charged a small exit fee
Your money is securely invested in compliance with strict government guidelines
If you pay in instalments, the pre-paid contract is not claimable until the final payment is made. This means if you die before the contract is paid in full, any funeral costs will be payable at current prices less the amounts already paid against the pre-paid contract
You make the choices you want for your funeral
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You can pay in a lump sum or by instalments. If you pay by instalments, you have up to three years to pay in full
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You are not locked into a particular funeral director. The pre-paid contract is transferable
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A pre-paid funeral can be cheaper than a funeral bond or funeral insurance if you live longer than another five to 10 years
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The amount you pay for the pre-paid contract will be exempt from any asset and income means testing when assessing eligibility for the aged pension
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What about insurance to meet future costs?

Funeral insurance is much like any other type of insurance. You pay regular premiums – weekly, fortnightly, or monthly – for a fixed amount of cover that will be paid to your beneficiary when you die.

With funeral insurance, you’re not saving for funeral costs. Rather, you’re buying insurance to meet those costs at a future date.

Unlike taking out insurance for other life occurrences that are unknown events (for example, a house fire or car accident), we all know that we will die one day.

But because we don’t know when we are going to die, when taking out funeral insurance you need to think about whether you can afford the policy over the next 10, 20 or more years.

With funeral insurance you’ll not only need to keep making payments over the years, but the premiums may increase as you age.

If the premium payments become unaffordable and you stop paying them, the policy will be cancelled – and it’s possible that you’ll not get back any of the money you have paid towards the policy.

Different insurers have different rules, so be sure to read the Product Disclosure Statement carefully before taking out the policy and be sure to talk to your financial advisor.

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PROS OF FUNERAL INSURANCE
CONS OF FUNERAL INSURANCE
You will be covered from day one, however most policies only cover accidental death for the first year or two
Premiums may increase over time. This means that what may have started out as a more affordable option becomes expensive, especially if you are living on a fixed income
Insurance is a familiar product and may suit you if you aren’t sure you can save a sufficient amount for your funeral costs
If you can no longer afford to pay the premiums or cancel your policy, you’re unlikely to receive a refund of the premiums you’ve paid
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If you live for longer than an expected number of years, you may end up paying more in premiums than the cost of a funeral
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Most insurers only cover accidental death in the first year or two of the policy, so if you die from another cause during this period you may not be covered
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Sometimes it can take a while for the beneficiaries of the policy to receive the insurance pay-out to cover the funeral expenses.

Want to find out more on your options and talk to one of our helpful team?