The D Word
Can it be a cause for celebration?
If you even Mention the D word (death) to some people they ask you to kindly change the subject. Or worse still they accuse you of being morbid – which is ironic to say the least.
ln our material world, it is sometimes all too easy to just focus on what you can get out of life. Many find solace in religion which as we know, helps many people to cope with the loss of a loved one by seeing it as a new beginning. But you don't need religion to consider your demise in a meaningful way. In fact, viewing your life as a journey leads you to naturally contemplate the end of the road. For many, a funeral, and the sense of ritual attached to it, is as much about celebrating life as it marking death. Taking time to think deeply about your death can often lead to a sense of reconciliation and peace of mind.
These days, planning is considered prudent in every aspect of life, and death should be no different. Especially when you consider there are only two certainties in life: death and taxation. But the real benefit of planning your funeral is the relief it provides for your grieving loved ones. Those left behind are not burdened with all the decisions associated with a funeral at a time when they are in no state to do so. Besides, it allows you to leave this mortal coil exactly the way you want to – right down to your favourite song (you know, the one everyone else hates).
According to Funeral Plan Management's General Manager Noel Woff, over 60 per cent of all pre-paid funerals in Australia are arranged by people whose prime motivation is to ease the pain and the financial burden for those left behind. Noel is certainly qualified to comment as Funeral Plan Management is the largest of the funeral funds - having provided independent advice to more than 100 000 Australians on the options available for organising a funeral in advance.
Whilst there may appear to be myriad alternatives in the market place, Noel points out that there are basically two main products to choose from. You can either invest money into a funeral bond or you can choose to enter into a prepaid funeral contract with a local funeral director.
Is there a difference between the two and is one more popular than the other?
Well, a funeral bond is a capital guaranteed investment specifically designed to save for future funeral expenses. The investment is only payable on death and it must be used to meet the reasonable costs of a funeral. Essentially, it is an investment product offered by most Friendly Societies such as Lifeplan Friendly Society and IOOF SA. A funeral bond can be taken out independently, or in consultation with a funeral director or financial planner. This option will ease the financial burden placed on families. However, decisions regarding the specific arrangements for the funeral service will still need to be made by the surviving family.
These days the preferred option - to ensure that the family is both emotionally and financially protected - appears to be a pre-paid funeral plan. A pre-paid funeral plan is a binding contract between yourself and your chosen funeral director. It ensures that your exact wishes are carried out as requested with the price fixed at the current day prices. The funeral director is obliged to carry out the future funeral as detailed in the contract, with no further expenses for the surviving family members.
In NSW pre-paid funerals are subject to very stringent legislation that is overseen by the Office of Fair Trading. With over 15% of all funerals now being paid for in advance we have seen a growing trend towards a broader acceptance of this kind of service. Additionally, nearly all funeral directors can assist with advice and guidance as to costs, not to mention the legal intricacies of a pre-paid funeral plan.
Regardless of which option you veer towards, the benefit of shielding your loved ones from the heartache is clear. For many, it is a parting gift that can make all the difference at a difficult time.
Contacts
Funeral Plan ManagementLevel 9, 520 Collins Street, Melbourne VIC 3000
Freecall: 1800 804 731
www.fpmanagement.com.au