Plan your funeral the way you want to be remembered secured by a contract with your preferred funeral director. You can pre-plan things like floral arrangements, music, funeral vehicles, burial plot or cremation placement, and more.
What is a Prepaid Funeral Plan?
When arranging a funeral for a loved one, there are so many questions that need to be answered, which can be emotionally and financially stressful. Burial or cremation? What music to play? Where should the ceremony be held? What flowers should be on display?
With a prepaid funeral plan, you can provide clear answers for all of these questions and protect your family against inheriting the costs associated with a funeral.
A prepaid funeral plan provides the security of a contract between you and your funeral director that specifies the details of your funeral service, at a fixed cost. By locking in at today’s prices, you know how much you need to pay now without further costs in the future.
There are many benefits to a prepaid funeral plan:
1. Your funeral costs are locked in
Having a funeral contract with your funeral director means you are able to lock in your agreed funeral service at today’s prices. The investment proceeds can only be used for your funeral costs.
2. Financially protect your loved ones
Setting aside funds for your funeral will remove the financial burden for loved ones and give you peace of mind.
3. Maximise your pension
Funeral costs you pay in advance normally do not count in your assets test for payments from Services Australia (i.e. Age Pension, Carer Payment or Disability Support Pension).
What can a prepaid funeral plan help you achieve?
A prepaid funeral plan will assist you in arranging and paying for your funeral in advance. Please note a prepaid funeral plan must be made in conjunction with a prepaid funeral contract, which is a formal agreement with your nominated funeral director.
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Why choose a Prepaid Funeral Plan with Foresters Financial?
Choose a Prepaid Funeral Plan with Foresters Financial for quality service and peace of mind, all while creating positive impact for Australian communities.-
Enjoy committed support and service
With over 170 years’ experience in supporting people in their time of need, our friendly Australian-based service team is here for you every step of the way.
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Create positive impact in your community
Foresters Financial products deliver lasting, sustainable change by helping to finance social and environmental initiatives in communities around Australia.
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Add our optional Away From Home cover for greater piece of mind
Get peace of mind knowing that transportation costs up to $3,000 are covered if you pass away while travelling more than 100km away from home, within Australia. Find out more.
Why choose a Prepaid Funeral Plan with Foresters Financial?
Choose a Prepaid Funeral Plan with Foresters Financial for quality service and peace of mind, all while creating positive impact for Australian communities.-
Create positive impact in your community
Foresters Financial products deliver lasting, sustainable change by helping to finance social and environmental initiatives in communities around Australia.
-
Enjoy committed support and service
With over 170 years’ experience in supporting people in their time of need, our friendly Australian-based service team is here for you every step of the way.
-
Add our optional Away From Home cover for greater piece of mind
Get peace of mind knowing that transportation costs up to $3,000 are covered if you pass away while travelling more than 100km away from home, within Australia. Find out more.
Capital Guaranteed Performance
Capital Guaranteed Investment Performance
(Financial Year Ended June 30th 2021)Bonus Rate² Tax Benefit³ Total Return⁴ Declared Bonus¹ 0.80% 0.34% 1.14% Capital Guaranteed Investment Performance 2 Years 3 Years 5 Years Performance History (total return) 1.07% 1.29% 1.39% Unit Pricing Performance
Date Sustainable Growth High Growth 17 June 2022 $0.912931 $0.911359 $0.906792 10 June 2022 $0.937293 $0.940225 $0.943100 03 June 2022 $0.949141 $0.956044 $0.964690 27 May 2022 $0.947879 $0.952915 $0.958015 20 May 2022 $0.943386 $0.947022 $0.950990 13 May 2022 $0.945379 $0.949750 $0.954261 06 May 2022 $0.952270 $0.958644 $0.967353 29 April 2022 $0.967181 $0.976302 $0.989228 22 April 2022 $0.970553 $0.980465 $0.994466 15 April 2022 $0.972478 $0.981574 $0.993755 08 April 2022 $0.975184 $0.983896 $0.996980 01 April 2022 $0.978904 $0.988283 $1.002108 25 March 2022 $0.976197 $0.983990 $0.995700 18 March 2022 $0.973792 $0.979508 $0.987462 11 March 2022 $0.964202 $0.966108 $0.967336 04 March 2022 $0.971389 $0.972385 $0.972301 25 February 2022 $0.972748 $0.975452 $0.976660 18 February 2022 $0.984441 $0.989881 $0.993913 11 February 2022 $0.986919 $0.992794 $0.997794 04 February 2022 $0.993597 $0.997225 $1.000404 28 January 2022 $0.984501 $0.987876 $0.988096 21 January 2022 $0.993228 $0.995689 $0.998214 14 January 2022 $1.006068 $1.008281 $1.015931 07 January 2022 $1.012924 $1.019699 $1.030313 31 December 2021 $1.020190 $1.025217 $1.036443 24 December 2021 $1.016842 $1.024172 $1.035037 17 December 2021 $1.012803 $1.019487 $1.028570 10 December 2021 $1.014263 $1.019439 $1.028834 3 December 2021 $1.008115 $1.013478 $1.022184 26 November 2021 $1.010181 $1.016596 $1.027616 19 November 2021 $1.012069 $1.017878 $1.030227 12 November 2021 $1.008588 $1.014234 $1.024838 5 November 2021 $1.009795 $1.013547 $1.023197 29 October 2021 $0.996769 $0.997281 $1.004602 22 October 2021 $0.998865 $1.001736 $1.006199 15 October 2021 $0.994762 $0.997541 $0.998647 8 October 2021 $0.991603 $0.996143 $0.996827 1 October 2021 $0.988214 $0.993280 $0.991354 24 September 2021 $1.002495 $1.005866 $1.007350 17 September 2021 $1.006995 $1.011120 $1.013850 10 September 2021 $1.006003 $1.009427 $1.012060 3 September 2021 $1.009361 $1.012040 $1.016406 27 August 2021 $1.006836 $1.011620 $1.015221 20 August 2021 $1.006440 $1.011492 $1.014548 13 August 2021 $1.003951 $1.007227 $1.009556 6 August 2021 $1.002308 $1.003638 $1.007386 30 July 2021 $0.997050 $0.998435 $0.998772 23 July 2021 $1.000000 $1.000000 $1.000000 1. The declared bonus rate applies to the Foresters Funeral Benefit Fund.
2. The Bonus Rate is calculated after deduction of ongoing management fees, expenses, taxes and any other required transfers of statutory reserves. Once the bonus rate has been allocated it forms part of the capital guarantee.
3. The Tax Benefit is a non-guaranteed maturity bonus that Foresters expect to pay as part of the funeral benefit
4. The Total Return is the sum of the bonus rate allocated and the tax benefit.Past performance should not be taken as a guide to future performance.
Fees and other costs
The table below shows fees and other costs that you may be charged. These fees and other costs may be deducted from your account balance, the returns on your investment or the Funds’ assets as a whole. You should read all the information about fees and costs because it is important to understand their impact on your investment.
Types of fee or cost Amount How and when paid Transaction Costs — Establishment Fee The fee to set up your initial investment Nil Not applicable — Contribution Fee The fee on each amount contributed to your investment Nil Not applicable — Commission Nil Not applicable — Exit Fee The fee when the total investment is payable Nil Not applicable — Switching Fee¹ The fee for changing investment options Nil Not applicable Management Costs — Management Fee To cover the cost of administering the Fund. The Management Fee may vary from time to time in accordance with the Benefit Fund Rules. 1.50% Annual fee of 1.50% charged on the average balance of the Funeral Benefit Capital Guaranteed Fund net assets. Marketing assistance may be provided to funeral directors from Foresters Financial’s management fees. No commission payments are paid. 1.40% Annual fee of 1.40% charged on the average balance of the Funeral Benefit Sustainable Fund; Funeral Benefit Growth Fund; and Funeral Benefit High Growth Fund net assets. Additionally, if you select a unit-linked investment option a proportion of the management fee will be donated to the Foresters Financial Community Grants Account, helping enrich the communities in which we belong. The Management Fee is calculated and deducted on a monthly basis and is inclusive of GST (as applicable) less any input tax credits (including approximate reduced input tax credits) that we in the underlying investment options may be entitled to claim. 1. Your investment may incur transaction costs (buy/sell spread) which will be taken into account in the entry and exit price
Frequently asked questions
For more information, or to find the answers to other questions you might have, please download the PDS or view our additional FAQs.
Frequently asked questions
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Foresters Financial is a proud Australian member-owned investment and insurance financial services organisation with over 170 years of putting our members financial security first. Originating from a concern about the lack of financial and social support in times of extreme hardship, the Ancient Order of Foresters was established in Victoria in 1849. Foresters Financial is registered under the Life Insurance Act 1995 (Cth) and regulated by the Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investments Commission (ASIC). Foresters Financial is registered as a public company limited by guarantee under the Corporations Act 2001 (Cth) and holds an Australian Financial Services Licence which authorises it to deal in, and provide general financial product advice on, a broad range of investment products.
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Funds held in the Foresters Funeral Benefit Fund may only be invested in a manner as specified in the Fund Rules and the Life Insurance Act 1995. Foresters Financial is also regulated by the Australian Prudential Regulation Authority (‘APRA’).
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As you have entered into a prepaid funeral contract with a specific funeral firm, you are subject to the terms and conditions of that contract and as such, any changes to the contract, including altering your contracted funeral director, are subject to the specific contract conditions. As these can vary between firms, we suggest you discuss any changes and how they are to be made with your contracted funeral firm in the first instance.
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No. Under current legislation there is no limit in the amount you can invest in our Prepaid Funeral Plan if your investment is made in conjunction with a prepaid funeral contract. The total amount will be exempt for the purposes of the assets test. For more information, please visit www.servicesaustralia.gov.au and seek specialist advice.
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If your funeral director ceases to trade, the value of your Prepaid Funeral Plan is protected as the monies held in the Funeral Benefit Fund are in your name. There is also provision in the contract for the service to be conducted by another funeral director.
Funds will only be released to pay for your funeral costs upon evidence that the service has been provided, and cannot be used for other purposes.
Helpful resources for your Prepaid Funeral Plan
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You can find additional resources in our Forms and Documents
