Financial planning

Pre-plan your funeral and you could save thousands with Guardian Plan

Nov 09, 2021

We don’t often give much thought to our own funeral, let alone take active steps to plan for one. However, more Australians are starting to think about end-of-life planning. After a tumultuous two years where the world was plunged into uncertainty, one thing remains certain, our mortality.

Financially-savvy retirees who pre-plan their funeral now may save up to $10,000 even if they don’t redeem the service for years to come.

By prepaying for a funeral, not only will you save your loved ones from financial strain, but the cost is also excluded from the income or asset test, possibly enabling you to claim a greater portion of the aged pension.

How pre-planning works

One of the safest ways to pre-plan your funeral, and ensure your money is protected, is to buy a Guardian Plan, an Australia-wide funeral planning service.

Guardian Plan is a prepaid funeral plan which allows you to work with a Funeral Arranger and pre-pay for your chosen funeral service at today’s prices. This means you are protected against inflation and price increases while also removing the burden from your loved ones when the time comes.

Under the plan, your investment is held by the Over Fifty Guardian Friendly Society which is regulated by the Australian Prudential Regulation Authority (APRA) ensuring the funds are protected, regardless of what may happen to a particular funeral company. APRA protection provides you with the peace of mind you need to ensure your money is protected.

When the time is right, the Guardian Plan can be used at one of 250 accredited funeral homes around Australia, regardless of where you live and when you take out the plan. An inclusion of so many funeral homes gives you the choice to plan the funeral you want, where you want it and within your budgetary requirements, so you can shop around.

According to the Australian Funeral Directors Association (AFDA), payment of a pre-paid funeral can be made in one lump sum or through a payment plan.

“When organising a pre-paid funeral, it is important that family is advised that arrangements for a funeral have been made in advance,” the AFDA says.

“Copies of the pre-paid funeral contract should be provided to members of the family, or filed with the Will and other important documents.”

The AFDA has strict regulations when it comes to pre-paid funerals. These include:

  • A written contract must be provided by the funeral director to the client clearly detailing the funeral requisites and services contracted and paid for.
  • The price of each pre-paid funeral should be fixed.
  • A numbered certificate in the name of the client should be provided by the financial institution.
  • The financial institution should guarantee that no funds can be withdrawn by the funeral director until the death and the funeral has taken place.
  • The financial institution must safeguard the funds of the client even if the funeral firm has gone out of business.
  • The pre-paid funeral plans and associated procedures must comply with the relevant Commonwealth and State Legislation in each state in which it operates.

And the good news is you don’t even have to wait until retirement to prepay your funeral. You can choose to do so at any stage of your life, and in any state of health. Not only will you have control over the finer details that come with planning your funeral, but you also may also stand to save a great deal of money and alleviate financial stress on your family.

For more information, head to or call 1800 220 888 to speak to one of Guardian Plan’s friendly consultants today.

IMPORTANT LEGAL INFO This article is of a general nature and FYI only, because it doesn’t take into account your financial or legal situation, objectives or needs. That means it’s not financial product or legal advice and shouldn’t be relied upon as if it is. Before making a financial or legal decision, you should work out if the info is appropriate for your situation and get independent, licensed financial services or legal advice.

Learn more about Guardian Plan prepaid funerals

Your farewell, your way. Lock in today’s prices with no more to pay. Your funds are securely held in an independent APRA-regulated fund accepted at 250 accredited funeral homes. Save money on funeral insurance with Guardian Plan.

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