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Best funeral insurance

We chose the top funeral insurance policies based on price, features, reputation and more to help you choose the best funeral insurance for your needs.

We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!

Still unsure which policy is right for you? Compare more Australian brands

1 - 4 of 8
Name Product Maximum cover Maximum entry age Average claims acceptance rate Average claim time Sum Insured Expiry age
Real Funeral Cover
$15,000
79
99.00%
0.7 months
$1,903 million
100th birthday
Receive 10% of premiums you’ve paid in the first 12 months with The Real Reward program.
Seniors Funeral Insurance
$15,000
79
99.00%
0.7 months
$1,903 million
100th birthday
Get up to $15,000 in funeral cover, including an extra 25% bonus cover when you turn 85.
Medibank Funeral Insurance
$15,000
79
98.20%
0.7 months
$324 million
No expiry age as long as premiums are paid
Medibank health members save 10% every year. T&Cs apply.
Insuranceline Funeral Insurance
$15,000
80
100%
0.6 months
$3,509 million
No expiry age as long as premiums are paid
Take out an InsuranceLine Funeral Insurance policy and you could receive a bonus $100 gift card. T&Cs apply. Ends 30 September 2022.
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Best funeral insurance: Features to look for

FeatureDetailsHow to compare
Benefit amountBenefit amountThis is the lump-sum benefit your policy will pay to your beneficiaries when you die.Most plans in Australia range between $3,000 and $15,000 in cover. Apia and Suncorp let you increase the sum insured to $25,000. Australian Seniors pays an accidental serious-injury benefit of up to $45,000 (three times the Funeral Insurance Benefit Amount).
Guaranteed acceptanceGuaranteed acceptanceThere's no medical exam or blood test needed prior to being offered cover.As long as you meet the age eligibility requirements – usually ranging between 18 and 80 years of age – you'll automatically be accepted for your insurance.
DiscountsOffersMany providers offer deals when you sign up to a policy as well as loyalty discounts and early cash-out options.There are 2 offers worth mentioning: Real Insurance gives back 10% of your premiums after 12 months and Australian Seniors gives a 25% bonus cover when you turn 85.
Special dealPolicy expiry ageWhether your policy ends during your lifetime will be an important point of comparison for some people.5 out of 8 providers we compared specify that policies never expire as long as you keep up with your premium payments. 3 brands – Real Insurance, Australian Seniors and Guardian Insurance – offer cover until the policyholder's 100th birthday.
Premium choicePremium choiceA choice of stepped premiums (that increase over time) or level premiums (a fixed amount for the life of the policy).Choose how affordable your cover is in the short and long term based on your needs.
Payout timePayout timeSome providers call out that payouts are typically made within 1 day of receiving all necessary claim details.3 providers – Suncorp, Apia and Insuranceline – called out their fast payout times of within 24 hours.
Terminal illnessTerminal illness benefitGet an early payout if you're diagnosed with a severe illness for which there's no known cure.All 8 providers we compared offer this benefit payment.
Accidental deathAccidental death coverIf you pass away after an accident, your family may get a payout of 3 times the amount you were insured for.Again, all 8 providers on Finder offer this cover type as standard. They also offered a lump sum for an accidental serious injury.

How much will a funeral actually cost me?

The cost of funerals varies greatly, with a basic cremation costing around $4,000 and a more elaborate service costing anything up to $15,000. Factors that might influence the cost of your funeral include the following:

  • Whether there are religious or family requirements
  • Whether there will be a wake
  • Whether you are being buried or cremated
  • If buried, the cost of a burial plot, casket, gravestone, transportation etc
  • If cremated, the cost of an urn, flowers, funeral director etc
  • Mandatory costs such as newspaper notices, death certificate etc

The amount of funeral insurance you need will depend largely on the type of funeral you're planning for.

When will funeral cover typically pay out benefits to my dependants?

Understanding whether your dependants will be paid is essential to ensure your policy provides value. Payment is typically dependent on 2 factors:

  1. The circumstances of an insured person's death or terminal illness
  2. How long after cover is issued does the death or terminal illness occur

Example breakdown of how a funeral insurance policy may pay out

Cause of deathTimelineWhat's paid?
AccidentDuring the first 12 months of holding the policyThe sum insured
Sickness and other causesDuring the first 12 months of holding the policyPremiums are refunded
Due to natural causes, accidents, sicknesses and other causesAfter 12 months of holding the policyThe sum insured
Cause of terminal illnessTimelineWhat's paid?
Due to natural causes, accidents, sicknesses and other causesDuring the first 12 months of holding the policyNo payment – the policy remains and you become eligible at the 12-month mark
Due to natural causes, accidents, sicknesses and other causesAfter 12 months of holding the policyThe sum insured

Make sure you check the product disclosure statement for exact situations where a payout will be made.

What should I be aware of with funeral insurance?

Funeral insurance has a few potential pitfalls you'll want to look out for, including the following:

  • Paying more over time than a funeral would cost. Choosing a policy with capped premiums would help you to avoid this risk.
  • Choosing the cheapest policy. If it doesn't cover all the basic benefits, you could find yourself underinsured.
  • Falling behind with premium payments. This could lead you to having your policy cancelled. Finding a policy with a "premium pause" option could give you breathing space.
  • Choosing a stepped premium policy if you're on a lower income. Stepped premiums increase with your age and could become unaffordable later in life.

Frequently asked questions

More guides on Finder

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2 Responses

  1. Default Gravatar
    PatersonJuly 10, 2019

    Hi, could we ask about funeral insurance for someone over 80 years, please?

    • Avatarfinder Customer Care
      JoshuaJuly 10, 2019Staff

      Hi Paterson,

      Thanks for getting in touch with Finder. I hope all is well with you. 😃

      I understand you are asking for more information about getting funeral insurance for a person who is 80 years old and above.

      It is worth noting that the oldest people who can take out funeral insurance are those aged between 75-79. However, there might still be specialist insurers who will accept older applicants. While we don’t have a specific page for this, you may want to reach out to the funeral insurers above to check if they can offer you a cover.

      Once you find an insurer you might feel is the best for you, click on the “Get Quote” button to learn more. It should redirect you to the official website of the insurer.

      You can learn more about senior’s funeral insurance for more details. Before applying, please ensure that you review the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. You can also contact the provider if you have specific questions.

      I hope this helps. Should you have further questions, please don’t hesitate to reach out again.

      Have a wonderful day!

      Cheers,
      Joshua

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