Metlife Funeral Insurance Policy Review | finder.com.au
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Metlife funeral insurance

Take the financial stress out of your funeral with Metlife Funeral Protection Insurance.

MetLife
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No one likes going to a funeral, it reminds us that loss isn’t easy, attractive or fun. Unfortunately, in addition to the more intangible feelings of sadness and loss, a funeral bring with it very real consequences such as choices, planning and costs. That is why more and more Australians are realising the multi layered value of funeral insurance, especially Metlife Funeral Plan, to make a difficult and stressful time at least financially easier.

Why choose a Metlife Funeral Plan?

With a funeral insurance policy from MetLife you can apply for up to $30,000 of cover, to be paid directly to your family when you die, to help them to create a respectful and memorable send off to say goodbye. MetLife funeral cover isn’t just for seniors or retirees either, because there are family discounts and inclusions available, and cover is available to anyone aged 18 to 70 years old.

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Features and benefits that MetLife Funeral Cover offers

Funeral cover can benefit just about every Australian family, as most of us would struggle to come up with the thousands of dollars immediately needed to pay for a loved one’s funeral. However, to make sure that the MetLife funeral cover policy is right for you, you need to understand the inclusions and conditions, and think about the level of cover which will fit into your budget now, and be enough for when the time comes to make a claim.

The MetLife funeral cover policy offers:

  • Up to $30,000 cover. A $30,000 funeral is going to be one memorable send off, but your family doesn’t have to use that whole amount on memorialising you. The money from the MetLife funeral cover payout can also be used to cover other final expenses such as medical bills, household debts or expenses, or to bequeath a monetary sum to your family members. You also don’t have to choose the full $30,000 benefit amount, because the more cover you choose, the more expensive your premiums will be. Instead, you can choose an amount from as little as $5,000, and opt for cover that both you and your family feel comfortable with.
  • Lump sum benefit. The MetLife funeral cover benefit is paid as a lump sum on eligible claims, to either your beneficiaries to your estate. This will be greatly appreciated by your family, as most funeral expenses when planning will need to be paid up front.
  • Guaranteed acceptance. If you are an Australian citizen or permanent resident and you’re 18 to 70 years old, you can quickly and easily apply for funeral cover with MetLife, as you don’t have to undergo any medical or blood tests. You are guaranteed to be accepted, and you can apply over the phone, or by returning the completed application form. MetLife will also guarantee to renew your cover each year, regardless of changes in your lifestyle, occupation or health. Plus, since the cover is so quick and easy to apply for, if you feel you rushed into the decision, you have a 30 day cooling off period to think about it, and if you cancel during this time, you will be refunded any premiums you’ve already paid.
  • Protection against inflation. MetLife will help to inflation proof your funeral cover, by increasing your benefit amount by a maximum of 10% each year. This helps to combat the corrosion which inflation can cause to all kinds of long term savings and investments, where the amount you set aside now, is no longer enough to cover the costs when you need to cash in the policy, as the costs of a funeral – like everything else – have gone up over time.
  • Eligible policy discounts. If you choose a benefit amount of $20,000 or more, you will be eligible for a 10% discount on your premiums, so a larger cover amount isn’t always a more expensive option. Plus, if you choose to make your MetLife funeral cover a family policy by insuring two or more people, you will be eligible for a 20% discount on your premiums. It can also make for a quick and easy way to cover both you and your partner, as you can complete a joint application.
  • Worldwide cover. With coverage under a MetLife funeral insurance plan, your family are able to make a claim 2 hours a day, seven days a week, no matter where you are in the world.
  • Start with accidental death cover. During the first 12 months of your policy with MetLife you are only protected by funeral cover in the event of accidental death. After you’ve held the policy for 12 months you’re covered for death by any cause.
  • Choose your beneficiaries. You can nominate the beneficiaries you want the funeral benefit to be paid to, or you can have the money paid to your estate to be managed. However, if you have a joint funeral policy with MetLife, the benefit will automatically be paid to the surviving policy owner.
  • Fluid cover options. Life changes constantly, so MetLife don’t expect your needs in death to stay the same either. Instead, you are able to change your cover amount at any time, by contacting MetLife to increase or decrease the cover amount as your needs, budget or your family’s plans for the future change.

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Coverage is the amount of money that you will be paid in the event of a claim. An insurance consultant can help you determine an appropriate amount. Calculator
Provides a lump sum payment if you become totally and permanently disabled and are unable to return to work.
Provides a lump sum payment if you suffer a serious medical condition. Cover can be taken out for 40-60 medical conditions depending on the policy you choose.
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