Prepaid funeral plans can save your family money and reduce emotional stress.
PRE-PAID FUNERALS

Prepaid funeral plans: Planning ahead vs ‘just waiting until later’

mel-mono
  • Mel Buttigieg
  • Writer, Bare
  • July 26, 2021
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A recent study into prepaid funeral plans found more than half of Australians (53%) intend to prepay for their funeral, according to finder.com.au. It’s a tough reality of life that one day each of us will slip from this mortal coil, so it makes sense to plan ahead.

The average price of a funeral is around $7,499 according to finder.com.au, but often funerals can cost upwards of $10,000 depending on the location of the service and any personalisation. The unfortunate reality is that many older Australians don’t have that kind of money in the bank when they die.

Additionally, funeral homes usually require payment upfront before the funeral service is arranged, leaving too many families scrambling to scrape the money together. Regardless if the death was expected or it was sudden, the price of a funeral often comes as a shock.

A study by Australian Seniors found 32% of families suffered financial hardship after paying for a loved one’s funeral. But paying in advance safeguards families from these expenses later on. Customers tell us that prepaying for their funeral gives them peace of mind that their family don’t have to worry about going into hardship when the time comes.

Those who do have the funds in the back often say they would rather it went to their kids and grandkids to enjoy, instead of lining the pockets of funeral directors. Read our article 19 ways to spend money saved pre-paying your funeral, here.

 

Prepaid funeral plans can safeguard families from financial hardship
Prepaid funeral plans can safeguard families from financial hardship after paying for a funeral.

Prepaid funeral plans can be incredibly empowering

If you’re going to leave the funeral planning to the living after your death, you may not get the funeral you envisaged. Prepaid funeral plans can be incredibly empowering. They allow you to call the shots and plan the send-off you want, even when you’re no longer here.

Prearranging your funeral can remove some of the emotional pressures from your loved ones who will be making arrangements at a time of immense grief.

Prepaying your funeral gives you the freedom to choose a befitting memorial that truly celebrates your life. If a religious church ceremony is not your style, a prepaid direct cremation with Bare removes all the pomp and circumstance. That might be a barbeque in a park or the backyard, or an ashes scattering service at a favourite fishing spot.

As part of our Bare Memorial Service, our celebrant team can help arrange and conduct a family-led memorial service, while we take care of the cremation process.

To find out more, visit the Bare Memorial webpage or call our prepaid concierge team on 1800 202 901.

What’s the point of a prepaid funeral plan?

Prepaid funeral plans are a simple way to pay for basic funeral services in advance and alleviate some of the financial and decision-making stress on loved ones when the time comes.

If you think funerals are expensive now, think about what they might be like in 10 or 20 years – or even longer! The main advantage of a prepaid arrangement is to avoid price rises over the years by locking in today’s prices. The cost of your prepaid funeral plan is calculated at today’s price and doesn’t increase over time.

For peace of mind, each of our customers’ money is held in a trust in their name, with Australian Friendly Society (in association with Bendigo bank) who have been managing prepaid funds for more than 50 years. That money is invested specifically to cover the cost of the funeral service and is safely held until it is needed.

The average cost of an Australian funerals is expected to rise past $16,000 in 15 years.
The average cost of an Australian funerals is expected to rise past $16,000 in 15 years.

It’s cheaper than you think

Unlike funeral insurance, a prepaid funeral plan means there is nothing more to pay once the plan is paid off. Prepaying also pays for what you want, not expensive add-ons that funeral directors usually try to up-sell.

At Bare, you can either prepay one lump sum upfront, or set up small fortnightly instalments over five years, or monthly instalments over two years. A Bare prepaid funeral plan allows you to finance your send-off with instalment amounts that are comfortable for your budget and won’t break the bank.

The average price of a Bare prepaid cremation is $2,500 paid upfront, or by instalments of around $22 a fortnight for five years. Please note that our prices vary depending on the location, as some regions have higher operating costs and government fees.

To find out more or request a free quote, head to the Bare Cremation website here or call 1800 202 901.

 

Prepaid funeral plans allow you to call the shots and plan the send-off you want, even when you’re no longer here.
Prepaid funeral plans allow you to call the shots and plan the send-off you want, even when you’re no longer here.

How do I arrange a prepaid funeral plan?

To arrange a prepaid funeral plan with us, simply head to the Bare Cremation website, here.

Enter your details and select your payment frequency – up-front, monthly or fortnightly – and you will receive an itemised quote.

Then all you need to do is enter your payment details and your prepaid funeral plan will be all set it. It’s that simple!

After setting up a prepaid funeral plan with us, you’ll receive a welcome call from our prepaid concierge team to check in and see if you have any questions about our service.

If you aren’t too great with computers, you are not alone! Just give our helpful prepaid concierge team a call on 1800 202 901 and they would be happy to either set you up over the phone, or mail out some paperwork for you to fill out and send back. We are here to support you.

Store your contract in a safe place (we recommend with your will or other important documents). When the time comes, your next of kin or family member just needs to give us a call and we will take care of the rest.

‘I’ll just have my kids call Bare when the time comes’

If you don’t want to set up a pre-paid plan, it’s a good idea to advise your next of kin to get in touch with us when the time comes.

Leaving detailed instructions about how you want to be celebrated will help to take some of the stress off your loved ones when it comes to arranging your funeral or memorial later on.

You can specify Bare as your preferred provider by leaving funeral instructions to have your family call us when the time comes. If you thinking about making a Will, you can make one with our free online Will kit here. If you are yet to make a Will or Advance Care Directive, leaving funeral instructions in these documents can help guide those who will be making those decisions later on.

You can also make your funeral plans known by writing out a funeral instructions document and store it with your Will or important documents. We’ve created a simple funeral instructions template here, which you can copy and fill out.

Bare prepaid funeral plans reviews

At Bare, we pride ourselves on our attention to customer service. We have achieved more than 600 five-star reviews, which we believe to be more than any other Australian funeral home.

You can read some of our prepaid funeral plans reviews here.

 

Prepay your funeral today and get back to spending your time (and money) on living!

To get a quote for a prepaid cremation, visit the Bare Cremation website or call us on 1800 202 901.

 

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