Funeral Insurance FAQs



How much funeral insurance can I get?

You can choose a funeral insurance Benefit Amount from $5,000 to $15,000 under our Funeral Insurance option.

Plus, you can be covered for even more by adding our optional covers including: Accidental Death Cover, Accidental Serious Injury Cover and Household Expenses Cover.


What happens if I pass away in the first 12 months?

In the first 12 months of your Policy you are covered for Accidental Death only. This means, if you pass away in the first 12 months as a result of an Accident, the full Benefit Amount will be paid to your beneficiaries.

If you pass away in the first 12 months as a result of natural causes, no benefit will be payable, however your beneficiaries will receive a full refund of premiums paid.


What is Accidental Death and Accidental Serious Injury Cover?

You can choose to add Accidental Death and/or Accidental Serious Injury Cover to your Funeral Insurance policy. Accidental Death will pay an additional lump sum equal to three times your funeral Insurance Benefit Amount if you or a family member dies as a result of an Accident.

Accidental Serious Injury Cover will pay an additional lump sum, equal to two times your Funeral Insurance Benefit Amount if you, or another person covered under the Policy suffer an Accidental Serious Injury which is of a permanent and disabling nature. The following are Accidental Serious Injuries which are covered under this benefit:

  • Blindness
  • Coma
  • Deafness
  • Loss of Speech
  • Loss of or Paralysis of 2 or more Limbs
  • Major Burns
  • Major Head Trauma
  • Paralysis

If you select the Accidental Serious Injury option, further exclusions do apply. Simply refer to the relevant Product Disclosure Statement for a detailed explanation of what they are.


What is meant by ‘Accident’ or ‘Accidental Death’?

An Accident means an event resulting in bodily injury occurring while this Policy is in force, where the injury is directly and solely caused by accidental, violent, external and visible means without any other contributing causes and where the injury is not self-inflicted. Death as a result of natural causes or suicide is not considered to be an Accident.

Accidental Death means death that occurs as a direct result of an Accident, and within 90 days of that Accident.


What is the Cash Payout at age 85 benefit?

With our Cash Payout at 85 benefit, you will automatically receive 100% Cash Payout of your funeral insurance Benefit Amount when the Life Insured turns 85. And, if you select the Household Expenses Cover, you will also receive 100% Cash Payout of your Household Expense Cover Benefit.


What is Household Expenses Cover?

We understand that when a loved one dies, it isn’t just the funeral that needs to be covered. There are other expenses that need to be paid too. To help cover monthly household expenses such as groceries, bills and petrol during this difficult time, you can choose additional cover that will pay a monthly benefit of $500 per month, from 3 up to 12 months to help reduce financial stress. For example, if you choose 5 months of cover, then your Household Expenses Cover Benefit Amount would be $2,500 (5 monthly payments of $500) in addition to the Funeral Insurance Benefit Amount.


What happens if I change my mind?

Our funeral insurance is designed to be flexible to suit your needs and budget, so if your circumstances change please don’t hesitate to call us. Alternatively, you can cancel your policy at any time, and if you cancel within 30 days from the First Premium Payment Date, you will receive a full refund of premiums paid, providing you have not made a claim.


Can I make changes to my cover?

You can decrease or increase your cover level, or add additional family members to your policy at any time to meet your changing insurance needs. Simply call Let’s Insure on 1300 355 355


Can I cover my family too?

With Let’s Insure funeral insurance, you can also protect your family for added peace of mind. You can apply for cover on a single Life Insured or for a Family Policy which can cover your life in addition to the lives of any Insured Child or Relative/s you apply to include on your Policy.


Will my premiums increase?

With Let’s Insure Funeral Insurance, your premiums will remain the same each year, provided there are no changes to your Policy.

We may change the amount we charge for your cover under this Policy at any time, but only if we change the premium rate applying to all Let’s Insure Funeral Insurance Policy Owners (or all Let’s Insure Funeral Insurance Policy Owners in the same group). If we make a change to your premium rate we will send you written notice at least 30 days prior to the effective date of the change, and that change will only be effective from the next anniversary date of your Policy.


My financial circumstances have changed and I can’t afford my premiums, what can I do?

If you are experiencing financial hardship at any time, we have options available to help you keep your funeral insurance in place. These options may include our Premium Pause benefit, which is available once you have continuously held your Policy for 12 months, and can allow for up to 3 months’ premium to be waived over the life of your Policy if you are experiencing financial hardship (during the pause cover will be for Accidental Death only). Refer to the relevant PDS for more information on a premium pause.

Please call 1300 355 355 to discuss your options with a member of our Let’s Insure team.


Are there other ways I can pay for my funeral?

There are alternate ways to cover the cost of your funeral, these include:

  • Prepaid funerals – a prepaid funeral is purchased in advance, at today’s prices. You have the flexibility to choose all of the details you want for your funeral. However, you are generally required to have the money upfront and you cannot get out of the arrangement – so the money is locked in.
  • Funeral bonds – a funeral bond is a tailored investment which allows people to accumulate funds to cover their funeral expenses. It is similar to a life insurance policy, whereby the benefit becomes payable on death. However, the investment must be used to cover funeral costs, and depending when you pass away it may not be enough to cover the cost of your funeral.
  • Superannuation – if you have superannuation, your super balance, and any life insurance that you have as part of your super will be paid out to your beneficiaries when you pass away. This money can be used to cover funeral costs. However, it can take time for the money to be paid, so it may not be there when your family need it.
  • Term deposits and savings plans – if you are a disciplined saver and you start early enough, setting up a savings plan or term deposit may be a suitable option for you to cover your funeral costs. This can give your family the money they need quickly. However, depending on how long you have held the savings plan when you pass away, there may not be sufficient money in it to cover the costs.

It’s important that you take the time to find the option that’s right for you.