When you die, you want to leave happy memories, not unaffordable bills. Funeral Insurance can help protect your family from your funeral expenses and remaining debts.
With pre-paid funeral plans, you choose and pay in advance for your funeral. Normally, the amount you pay covers the arrangements you have made only. They tend to be inflexible – for example if you move interstate or if you change your mind, you can’t always change the arrangements.
However, with Guardian Funeral Insurance, you pay monthly or fortnightly premiums for a chosen amount of cover which is paid to your beneficiary after you die. The payout money can then be used towards any final expenses that come up. It means your family can use the money towards any expenses they’re faced with, providing them with important financial support at a tough time.
It’s the one certainty in life, but there’s no knowing when it will happen. Funeral Insurance ensures your loved ones won’t have to do it tough when your time comes.
Depending on what suits your needs, you can choose cover from $3,000 to $15,000. In the first 12 months, your Benefit Amount is only paid in the event of Accidental Serious Injury and Accidental Death only. After the first year of holding your Policy cover is for death by any cause, Accidental Serious Injury and diagnosis of a Terminal Illness with 12 months or less to live. Accidental Serious Injury covers specific defined injuries and expires on the Policy Anniversary after your 75th birthday, and any cause of death thereafter.
If your death is accidental, then we will pay three times your chosen Benefit Amount. For example: prior to turning 85, if you have $10,000 in funeral insurance cover and you die because of an accident, the Benefit Amount payable to your loved ones would be $30,000. If Accidental Death occurs after you turn 85 the triple Benefit Amount also includes the 25% in Bonus Cover.
Accidental Death cover is paid if you pass away from an accident, or within 90 days of the injuries sustained in an accident.
We do our best to keep your premiums manageable. With Guardian Funeral Insurance, the cost of your premiums won’t increase every year, and if you decide to keep your cover after you turn 85 you won’t need to pay any further premiums and you will also receive an additional 25% in Bonus Cover.
If you’re an Australian Resident aged between 18 and 79, we guarantee to accept you for Funeral Insurance cover.
No, and there are no intrusive questions about your health and lifestyle.
During the first year, you’ll only be covered for Accidental Serious Injury and Accidental Death. After the first year of holding your Policy, the benefit is payable on death from any cause, Accidental Serious Injury and diagnosis of a terminal illness with 12 months or less to live.
An “Accident” is an event that results in bodily injury. You’re covered if your policy is active and 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.
“Accidental Death” means death occurring as a direct result of an Accident and where death occurs within 90 days of the Accident.
Absolutely. Once your Guardian Funeral Insurance policy is in force, you are covered 24/7, anywhere in the world. However, if you are on a temporary Australian work visa and stop residing in Australia your policy will be cancelled.
Yes, with Guardian Funeral Insurance you can choose to cover your own life (on a single plan) or cover yourself and your partner (on a joint plan).
Your premiums are designed to stay level which means they won’t increase every year. The premiums may change if you make changes to your Policy or if the underlying premium rates are changed by us. However, you will never be singled out for a premium rate increase.
In most cases, Funeral Insurance premiums will not be tax deductible. On the upside, it means there won’t be any tax payable on any money paid out under your policy. This information assumes the present tax laws (along with our interpretation of them) don’t change. Your individual situation might be different and you should get qualified professional advice that’s specific to you.
As long as you pay your premiums on time (and cover is not cancelled for any reason), we will continue to renew your Funeral Insurance Policy until you reach 100 years of age.
However, at age 85 you do have the option to end your Policy and cash out 75% of your Benefit Amount or you can continue your Policy at no further cost to you and receive an additional 25% in Bonus Cover.
Once you celebrate your 100th birthday, your cover ends and we will pay you both your Benefit Amount as well as the 25% Bonus Cover. If you choose the early Cash Out Option you will no longer be eligible to claim and you may receive less than the total premiums you’ve paid into your Policy to date.
Once you turn 85 you can choose to end your cover and cash out for 75% of your Benefit Amount. This can be done at any time after your 85th birthday by contacting our Customer Service team on 1300 709 560.
If you choose the Early Cash Out option, you will no longer be eligible to claim and you may receive less than the total premiums you’ve paid into your policy to date.
Before taking the cash out option seek professional advice as the Early Cash Out Option may affect entitlements to the age pension and other government benefits.
If you cancel your Guardian Funeral Insurance policy within 30 days of the Commencement Date (the cooling off period) – for any reason whatsoever – you’ll receive a full refund of premiums that have been paid.
As Guardian Funeral Insurance is not a savings plan, if you or we cancel your cover after the 30-day cooling off period, cover stops and there is no refund of premiums or benefit payable.
As the policyowner, you have the right to nominate up to 5 beneficiaries to receive benefits payable under your policy. If you don’t nominate a beneficiary and you die, the Benefit Amount will be paid to the policyowner’s legal personal representative, or other person that the insurer is permitted to pay under the Life Insurance Act 1995.
Although this Insurance is designed to help with the cost of your funeral and other final expenses, the money paid out can be used in any way your nominated beneficiary sees fit. The benefit is paid as a lump sum, and doesn’t provide any funeral, burial or cremation services.
You can nominate a beneficiary or beneficiaries by simply downloading a Nomination of Beneficiary Form, completing and mailing it to:
Guardian Customer Service
Reply Paid 6728
Baulkham Hills NSW 2153
If a loved one has recently passed away, or your personal situation has changed which requires you to make a claim, please contact one of our experienced Claims Agents, either by emailing claims@guardianinsurance.com.au or calling 1300 308 578. Our Agent will personally run through the process required (step by step) over the phone with you. For more information on making a claim, click here.