Pre-Paid Funeral plans make sound emotional and financial sense. Not only can they protect your loved ones from unnecessary stress at a difficult time, they also ensure that your own wishes are carried out.
We understand the conversation about funeral planning can be very emotional to many individuals and families, so by giving you the information, resources and the options available, we try to take the uncertainty away. Picaluna uses Funeral Plan Management as its Funeral plan provider. They offer you two simple options to consider.
Whether you choose to pay for the funeral in advance (a Pre-paid Funeral plan), or set money aside toward the expense (a Funeral bond), you are always in control, whilst you get on with enjoying your life.
A Pre-paid Funeral plan is protection from escalating costs.
A pre-paid funeral plan is a service planned and paid for in advance. It is secured at today’s prices, which gives you total control over your funeral.
Your funds are held independently of Picaluna and invested on your behalf. Choose to pay in a lump sum, or in fortnightly, monthly or quarterly instalments over a fixed period of time.
A pre-paid funeral is arranged with Picaluna; you decide on the type of service and this is formalised in a contract. Your funds are secure and should Picaluna cease to exist, your investment is safe. Picaluna is only paid once proof your contract has been fulfilled. Your pre-paid funeral plan will not affect your means tested pension. No contribution limit applies, so you can invest as much as you would like to cover your future funeral expenses.
A Funeral Bond has the specific purpose of meeting your future funeral expenses.
You can choose the capital guaranteed option, which means your contributions and allocated bonuses are always secure. Or you can choose the Conservative or Moderate investments if you want to increase the value of your policy through a combination of income and capital growth.
You can open an account with a lump sum of $500 and top up any time with a minimum of $50, or start with $100 with a minimum $50 per month on an instalment plan. You also have the freedom to stop paying instalments at any time without penalty if your circumstances change. Annual bonuses are also exempt from personal income tax. Your Funeral Bond will not affect your means tested pension, so you can invest up to the current Government threshold ($13,500 for 2021/22 financial year). There is no limit to your investment if the means test is not applicable to your personal circumstances.
If you are the executor or next of kin, you can quickly and easily claim the funds within your FuneralPlan Bond by providing the required documentation. The funds will be paid to you within two working days.
To learn more about your options, you can speak to us, or read more about them at https://www.fpmanagement.com.au