Funeral insurance

[Oakie]

Of put it into Lotto tickets, you probably won't win it back, but you just might.

Bonus Bonds are still a thing if you want a chance to win big and still keep your money.

[jasonu]

Got a quote from Momentum Life for funeral and accident cover today (they advertised on Facebook, I entered a few details and got a call back within minutes). Sounded good over the phone but I requested a written quote. it really is a rip - I'm 65, the quote was for $6K funeral, $18K accidental death or $12k serious injury. Weekly premium is $13.81. No premiums payable after age 85. The gotchas - I have to pay 20 years at $13.81 /week ($14362) to get a $6k funeral, the accident insurance ceases at age 70, there is no payout for the first 2 years other than what i've paid in - leaves a pretty narrow window of 3 years where they will pay the accident component.

I was pretty sure this as how it was going to play, but getting a quote was necessary to get real figures.

Bottom line, as others have said, put the same money into a savings account AND get a bit of interest as well. Of put it into Lotto tickets, you probably won't win it back, but you just might.

$6k is a no frills funeral.

[pete376403]

$6k is a no frills funeral.

For the principal actor involved - why would that person want anything grander - it's not like he/she is going to appreciate the spectacle. Bonfire in the backyard would achieve the same result.

[F5 Dave]

Being that HDC for example is quite the principal actor . I think knowing that there are going to be wailing maidens and virgins(*) throwing themselves on the funeral fire would give him quite a kick even or especially while forking out the money in advance.
Now I guess that is really like buying lottery tickets. You are buying the dream rather than the actual experience.

(*) accountants and IT geeks.