Establish a safe, Government-backed alternative to Funeral Insurance

8Funeral Insurance is, for most Australians, a product that has little value. If you live for 5-10 years after you take out the policy, you might actually pay more than the benefit sum. And if you can no longer afford to pay the premiums and you have to stop, you generally will not get your premiums back – it’s simply money down the drain.

Providers of this sort of insurance particularly target indigenous communities. Last year ASIC reported that 50% of all policies held by Indigenous consumers were aged under 20. A higher proportion of indigenous consumers also had their policies cancelled for non-payment of premiums, losing the value of premiums already paid.

Our client was featured in a ABC News report on funeral insurance in November last year.

Policy contact: Susan Quinn: 03 8554 6952 – susan@consumeraction.org.au

Media contact: Jonathan Brown: 0413 299 567 – media@consumeraction.org.au

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