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Adding some style to death
Adding some style to death
Quote:
As of today, Australians can invest up to $10,250 into a funeral bond, which is the first indexed increase since new tax laws came into effect on January 1 this year.
That move doubled the amount an individual could invest in a funeral bond from $5,000 to $10,000.
Lifeplan Funds Management general manager of strategic development Matt Walsh said the increase would allow people to tailor their funerals with more diverse and unusual services.
“Funerals have always been very personal events, but more people are taking the time to play an integral role in planning their own funeral arrangements,” he said.
“From our experience, people want services that reflect specific aspects of their lives and personal tastes that remind their friends and family of who they were in life.”
Walsh said a typical funeral will cost about $8,000 but people do spend up to $50,000 for an extravagant service.
Lifeplan has two funeral bonds. A Prepaid Funeral Plan enables investors to fix the cost of the funeral and a Funeral Bond allows clients to contribute over a period of time to meet funeral expenses.
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Sim'
This is a general comment only and does not constitute advice. Before making financial decisions you should seek advice from a professional adviser, who can take into account your specific circumstances and investment goals.
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