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Pre-paid funeralsWe plan for nearly every financial eventuality that we may face in life: we invest for our retirement, have health insurance and house and contents insurance. Yet when it comes to funerals many of us don't like to think about them, let alone plan for them. Today more and more people are changing the way they think and find that it makes a lot of sense to join a Funeral Plan. The FDANZ Family Bereavement Plan can help relieve the burden of an inevitable event that affects our loved ones emotionally and financially by allowing you to arrange and pay for your funeral long before it's needed. FDANZ Family Bereavement Plan®Benefits of pre-payingPre-paid funerals up to $10,000 are currently excluded from asset testing (under government policy) when assessing eligibility for a subsidy for long term residential care for the elderly. Pre-paying all or part of your funeral service expenses relieves your family of the financial burden. The money that you pay towards your FDANZ Family Bereavement Plan is used to pay the premiums on a life insurance policy issued by Sovereign Life (NZ) Limited (Sovereign). The benefits payable under the life insurance policy on your death will be used to pay your funeral director carrying out the funeral you arrange. The FDANZ Family Bereavement Plan can help you have peace of mind that your wishes are known and you have made arrangements for them to be carried out. The FDANZ Family Bereavement Plan protects your family from the responsibility of the need to make difficult decisions in very emotional circumstances. How the plan worksIt's easy to arrange.Applying to join the FDANZ Family Bereavement Plan is straightforward. Your Griefcare funeral director will willingly assist you and answer any questions. You choose the type of funeral you want.Participation in the FDANZ Family Bereavement Plan lets you make important decisions on the type of funeral service you prefer, on burial or cremation, inclusion of catering and memorials, and on the choice of coffin or casket. You can even plan details such as your favourite reading, your preference for donations or flowers, or the music you particularly love. If you change your mindIf for any reason you change your mind about joining the FDANZ Family Bereavement Plan, simply advise Sovereign and your arranging funeral director in writing within 21 days of applying to participate in the Plan and your money will be refunded in full. No restrictionsAnyone can join the FDANZ Family Bereavement Plan regardless of his or her age or state of health. NationwideAny Griefcare member in New Zealand can carry out a funeral prearranged and prepaid through the FDANZ Family Bereavement Plan. This means if you move to another part of the country your wishes can still be respected. What will it cost?The amount you pay into the FDANZ Family Bereavement Plan will depend on your intended funeral arrangements. Your funeral director can help you tailor a funeral to suit your budget. The FDANZ Family Bereavement Plan is a specially designed life insurance policy that requires no health evidence. The issuer of the life insurance policy is Sovereign Life (NZ) Limited. Your prepayment does not remain with your Funeral Directors' Association member but is passed to Sovereign, which is one of New Zealand's leading life insurance companies. Statutory declarationAll Griefcare funeral practices are required to sign an annual Statutory Declaration confirming that the investment of funds meets all statutory requirements. The FDANZ Family Bereavement Plan meets all such requirements and is the only plan endorsed by the FDANZ. For further information please contact your local Griefcare or FDANZ member firm. This page was updated on Monday, 23 April 2001. |