We have to say, many of the Insurance products advertised by large companies on TV may not be the best product for you. There are a number of instances where people pay much more in premiums than they gain from any payout so this needs to be carefully considered.
For those under 55 yrs, Sureplan Insurance fund does provide an excellent product which offers substantial savings compared with total funeral cover payout and premiums are only paid until 60yrs of age. As a guide, an applicant would pay about half of the benefit over the course of a lifetime. For example, a 40yr old person seeking $5,400 of cover for funeral expenses would pay $128.70 pa for 20 yrs or $2,574 total – a saving of $2,826 or 52%. The premiums will never increase and the benefit will never diminish. First Forest has researched most of the financial products on the market and this is the best value that we can find.