Life Insurance

What are the benefits of Funeral Insurance?

28 October 2021

Having the funeral discussion

It’s not a topic many people want to cover but it’s an important conversation: what do you want your funeral to look like? Talking about your funeral may help bring normalcy to something that is very much a fact of life. It may also help your family plan the perfect funeral for you.

Deciding to take out funeral insurance can be the catalyst for this discussion. It may also be a good reminder for your loved ones that, at the end of the day, you’re worried for their welfare and just want to ensure that financially, they are taken care of.

How much will your funeral actually set your family back? This will, of course, depend on what you want your funeral to look like. Many people have specific ideas of what they want to include in their funeral - will it be flowers, balloons or both? Will there be music? Do you want a cremation or a burial? What about a function after the service so your family and friends have a chance to share memories? All of these decisions will influence the ultimate cost of your funeral.

Having this discussion with your loved ones means you get to have a say, but it also means less work for your family when the inevitable happens. Everything will be planned, so there may not be as much stress as there usually would - making decisions and figuring out how to cover the expenses.

How funeral insurance may help

The average funeral in Australia can cost from $4,000 up to $15,000. Even at the lower end, this can be a lot for a family to have on hand immediately. While the figure depends on the conversations you have and the plans you put in place, having insurance to cover the expenses may help give your family peace of mind when they need it most.

Funeral insurance can provide a lump sum payment of between $3,000 and $15,000 to your loved ones, within 24 hours of an approved claim. This means your family won’t have to wait too long to receive the benefit amount, and they may be relieved of the financial strain that can be involved with planning, and paying for funerals. With Suncorp Funeral Insurance, you’re also covered for accidental death after the first 12 months. Once your policy is in place, cover can even be increased to $25,000 if required. Of course, there are other benefits from Suncorp Funeral Insurance including a 10% bonus cover after five years, an early payout option of 120% of your benefit after your 85th birthday and an annual premium discount.

Remember, funerals are highly emotional times, and it’s a time that your family shouldn’t be worrying about finances. Rather, they should be able to focus on their grief. It may be difficult to emotionally prepare your loved ones for your funeral but having funeral insurance may go a long way to preparing them financially, easing the burden and stress.

If you have any questions about Suncorp Funeral Insurance, you can talk to our Suncorp Life specialists on 13 11 55 (Mon to Fri 8am–8pm).

Get a Suncorp Funeral Insurance online quote within minutes.


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Suncorp Life Insurance products, other than in some circumstances the Redundancy Benefit, is provided by TAL Life Limited ABN 70 050 109 450 AFSL 237848 (TAL Life) which is part of the TAL Dai-ichi Life Australia Pty Limited ABN 97 150 070 483 group of companies (TAL). TAL is not part of the Suncorp Group. TAL uses the Suncorp brand (part of the Suncorp Group) under license. Any advice on this page in connection with the Life products is general in nature and is provided by Platform Ventures Pty Ltd ABN 35 626 745 177 AFS Representative Number 001266101 (PV). PV is part of the Suncorp Group and an authorised representative of TAL Direct Pty Limited ABN 39 084 666 017, AFSL 243260 (TAL Direct). General advice does not take into account your individual needs, objectives or financial situation. Before you decide to buy or to continue to hold a Life Products you must read the relevant Product Disclosure Statement. The Target Market Determination (TMD) for the product is available on our website.

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