Why Consider AMP Funeral Cover?
We spend so much time and effort thinking about and planning for our lives and the future, so why won't we spend just a fraction of that time planning for our deaths?
While being prepared for our end-of-life is important, it is difficult to care about something that will happen after we’re gone, something we won’t even around for, especially when we are still living and breathing.
However, having a family and people who rely on you and care for you means that you sometimes need to step outside of yourself and think about the best way to look after them – no matter what. When it comes to making sure your family are looked after when you’re gone, one of the things you can do is take out funeral plan insurance.
With an AMP funeral plan your family can receive a lump sum benefit payment shortly after your death, to help them pay for the immediate expenses without having to dip into savings or go into debt, at a time when they are already emotionally strung out.
What are the features of the AMP Funeral Plan
The cost of a funeral can run into thousands of dollars, sometimes even tens of thousands of dollars, and they’re not getting any cheaper as the years go by. That is why, if you are doing everything you can to keep your life ordered and on track, and ensure that your family doesn’t want for anything, then you should also be looking into the best funeral plan, to make sure your passing isn’t a burden to your family.
In your research of funeral plan insurance, consider the benefits offered by AMP:
- Fast claims paymentIn the case of some life insurance policies, you or your family can be waiting some time for the claim to be processed and paid. However, AMP knows that there are a myriad of things which need to be paid for, often up front, in the event of planning a funeral, so they won’t make your family wait to receive the benefit from your funeral plan.
- Choose your cover amountWith an AMP funeral plan you can choose a benefit amount of up to $15,000. This means that depending on your age, you can provide enough for your family to plan a memorable and meaningful farewell, keeping in mind that the higher the benefit amount you choose, the more expensive your premiums will be for the higher level of cover. If you are 18 to 49 years old, you can choose between $10,000 and $15,000 of cover. If you are 50 to 79 years old, you can choose $5,000, $10,000 or $15,000 of cover.
- Guaranteed acceptanceIf you are an Australian resident between 18 and 79 years old, you are guaranteed to be approved for an AMP funeral plan. You won’t have to complete any medical tests or have a blood test when you apply, and you’ll also have a 30 day cooling off period, in case you change your mind about your cover, during which you will be refunded any premiums you’ve paid if you decide to cancel your plan with AMP.
- Premium waiversOnce you reach 90 years old, AMP will waive any further premiums. This means your funeral plan won’t cost you anything, but you will remain fully covered so that your family receives a benefit from your insurance when you die.
- Choose a family planWhen you apply for an AMP funeral plan, you can also choose to include coverage for your partner and your children. Children who are 2 to 17 years old are eligible to be covered under a family plan. You can cover up to a maximum of 10 dependent children under your family policy.
- Automatic adjustments for inflationInflation means that the cost of just about everything is going up each year, and the cost of a funeral is no exception. From the cost of the casket and the plot, to the price of flowers and catering at the wake, your funeral is going to cost more at the time your family makes a claim, than it would today. This is why AMP automatically increases your benefit amount by 5% each year, to keep your funeral plan relevant to the costs of the day, so your family isn’t left short at the time of the claim.
- Payments and nomination of beneficiariesYou can nominate anyone you like to be the beneficiary of your AMP funeral plan pay out, for them to plan your funeral. Alternatively, if you have a joint or family plan, and there are adult surviving policy holders, the benefit of the funeral plan will be paid to them.
- Coverage anywhere in the worldYou don’t have to worry about voiding your AMP funeral plan if you travel, because AMP will pay an eligible claim 24 hours a day, seven days a week, for anywhere in the world.
With AMP, you can rest assured that your loved ones will be taken care of financially should anything ever happen to you. AMP funeral plan can provide valuable financial assistance to your family to prepare the send-off they would've wanted for you, without having to worry whether or not they can afford it.