Seniors Funeral Insurance

Over 60 and considering seniors funeral insurance? Learn what to look for in a policy and compare your options online

If the financial security of your loved ones is important for you, then planning for your funeral is a must. A funeral insurance policy can help cover your final expenses when you pass away, thereby relieving your family of an unnecessary financial burden during an already difficult time. Seniors should consider funeral insurance for the following reasons:

  • The application process is fast and simple. Applications can be done over the phone or online.
  • Little or no medical examinations. Most policies won't require you to undergo any medical examinations.
  • Your choice of a cover amount. Choose a level of cover up to $30,000.

Contact an adviser to compare quotes for seniors funeral insurance

Please enter your full name
Please enter a valid email address
It's important to give us a valid phone number
Date of Birth
The amount you would like your family to receive to cover your funeral expenses. If you are not sure what costs that are involved in a typical funeral arrangement, it is advised to speak to an insurance consultant.
By submitting this form, you agree to the privacy policy
Compare Quotes

How much will a funeral actually cost me?

The actual cost of a funeral can come as quite an unpleasant surprise, partly due to it being a subject that most people don't want to think about. There can be a whole raft of expenses associated with a funeral, depending on how big it is and how elaborate you want it to be, some of which include:

  • A cemetery plot, coffin, gravestone, hearse and funeral director, if you plan to be buried.
  • A service, celebrant, urn and flowers if you plan to be cremated.
  • Venue hire and catering if there is to be a wake.
  • Newspaper notices, obituaries and a death certificate.
  • The added costs of cultural and religious requirements.

When considering funeral insurance, you would probably need a cover amount of at least $4,000 to cover a basic cremation and anything up to $30,000 for a more elaborate service.

What are the benefits of getting funeral insurance?

    • Easy to apply. Funeral insurance can be obtained quickly and easily over the phone or online.
    • No medical examinations*. Funeral insurance generally won't require you to submit a medical history or undergo a medical assessment for pre-existing conditions, making it easier for seniors to obtain. There are exceptions however which can be found below.
    • Fast payout when you pass away. Your benefit is generally paid out to your dependents within two business days of your passing.
    • Lump sum payment. A lump sum payment is made to cover your final expenses.
    • Accidental death cover. You will receive payment of the full benefit if you die due to an accident in the first year of holding your policy.
    • Terminal illness. If you are diagnosed with a terminal illness after the first year of holding your policy you will receive a payout.

*When will my health or age require me to undergo a medical examination?

As a general rule of thumb, if you are over 70 then you will either have to submit your medical history or take a medical questionnaire. Make sure you check your policies product disclosure statement or contact your insurer directly so you know what their rules are regarding this. Additionally, if you are a smoker then you may incur a premium loading, which means your policy will cost more. However, unlike other forms of insurance you probably won't be refused cover due to smoking.

Are there any must-have policy features for seniors?

Keep an eye out for these policy features being offered when you are comparing funeral insurance. While some are beneficial no matter what your age others are of particular use if you are a senior.

Key features for seniors

How does this help me?

  • Premium choice
Policies will sometimes offer you a choice of levelled or stepped premiums. A levelled premium doesn't rise as you get older which can be useful as your income ceases with age.
  • Capped premiums
Cover becomes free once your premiums paid match your insured amount or when you reach 90 years of age.
  • Payout guarantees
This ensures you are paid out the greater between your total premiums paid and your sum insured.
  • Grace periods
If you cannot make premium payments, some policies offer a grace period (usually three months) to reinstate your policy. During this period your accidental death cover remains in place.

Other useful features

How does this help me?

  • Global coverage
Your policy covers you 24/7 anywhere in the world.
  • Free will kits
Some policies will also provide you with a free will kit to help with your estate planning.

What is the maximum age for funeral insurance eligibility?

Age restrictions usually apply when it comes to funeral insurance. The normal age range for eligibility is 45 to 70, but the maximum age varies between insurers and plans do exist that cater for older seniors, although medical assessment may be required. The age of 80 or above is typically when you may have trouble taking out a policy. Most insurers will either:

      • Require you to take a medical examination.
    • Not provide cover.

Can I trust funeral insurance advertised on television?

Although the funeral insurance industry has made efforts to curtail scams and prevent rip-offs, dodgy providers who prey on vulnerable seniors still exist. Most of the time this will be done through:

      • Misleading day-time television advertising.
      • Harassing cold calls over the phone.
      • Door-to-door salespeople trying to pressure them into a sale.

What are the problems with these types of policies?

Here are some of the main issues with buying funeral insurance from a television commercial or a salesperson:

      • Ads can make funeral insurance sound simple. A 30 second ad isn't enough time to explain a complex product like funeral insurance properly nor can it tailor a policy to your personal situation, which is a must with any form of insurance.
      • You might be rushed or manipulated into buying a bad policy. Ads and salesman on the phone will focus on you getting you to buy a policy, rather than explaining it's pros and cons.
      • Your rights may not be explained to you. A salesperson must tell you how long your cooling off period is. If they refuse to or give vague responses then do not buy from them.
Rushed or pressured into buying a policy?
Then don't panic, you may still be able to get your money back. Under Australian Consumer Law, you are entitled to a 10 day cooling off period if you buy a policy from a salesman. If you are still within this period you can ask for a refund. Most funeral insurance policies will state a 30 day cooling off period.

How do I avoid getting sold a bad funeral insurance policy?

Most providers who sell bad or dodgy policies rely on people not fully understanding what their getting sold. Therefore, to avoid getting ripped you should try to:

      • Understand the features that will be included in a good policy.
      • Know the funeral insurance traps and tricks, some of which are explained below.
      • Consult with an experienced and reputable advisor in the event you are still unsure about a policy.

Funeral insurance traps and how to beat them

The trap

How to avoid it

  • Paying more in premiums than the cost of your funeral.
  • Look for a policy that offers premium caps.
  • Not being able to make payments and forfeiting the money you have paid.
  • Look for a policy with a grace period or a premium pause option.
  • Not being able to afford your premium when it rises in a few years.
  • Choose a policy with a levelled premium.
  • Buying a bad policy from an infomercial or a phone call.
  • Attempt to get a refund within the cooling off period.

What other options do I have to fund my funeral?

Other ways to cover your funeral expenses include:

      • Life insurance. This usually contains a funeral expenses benefit.
      • Superannuation. This also often contains funeral cover, although the payment process is slower than that of standalone funeral insurance.
      • Savings. Either a lump sum term deposit or regular payments into a savings account.
      • Funeral bond. Money invested by an insurance company or friendly society is used to cover your funeral expenses.
      • Prepaid funeral. Either a lump sum or regular payments to a funeral director.
      • Government assistance. If you are a veteran or pensioner, you may be eligible for financial assistance to help cover funeral expenses.

Compare seniors funeral insurance with help from an adviser

Was this content helpful to you? No  Yes

Related Posts

Ask a Question

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Disclaimer: At we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the privacy policy, receive follow up emails related to and to create a user account where further replies to your questions will be sent.

Ask a question