Best Funeral Insurance

You already know that by taking out funeral cover you can rest assured that your loved ones will be able to pay for your final expenses. Now it’s time to choose the best value funeral insurance that will suit your needs and those of your family.

The best funeral insurance is offered by companies that have your best interest at heart and provides burial products that give you value for money. The best funeral insurance policy is one that remains affordable in the long-term, enables you to have the funeral you want and spares your loved ones unnecessary financial stress.

We’ve compiled a checklist to help you cut through the clutter and find the right funeral plan for you.

Funeral insurance reviews

Use funeral insurance reviews to distinguish between good and bad products. Have a look at who is buying from the company and what their customers are saying about them. Burial insurance varies when it comes to premiums, benefits and cover, so it’s important that you shop around and review the various cover types.

What to look for when choosing the right insurance:

  • Acceptance age: Generally any Australian aged between 18 and 74 years can purchase funeral insurance. However the older you are, the more expensive cover becomes.
  • Your level of cover: In Australia funerals cost anywhere between $4,000 and $15,000. Make sure the cover amount you choose is suitable to your needs and that it will cover the full cost of your funeral.
  • Waiting period: Upon your policy commencing you will usually only receive accidental death cover for the first 12 to 24 months. Review your policy documents and product disclosure statement (PDS) carefully to ensure your waiting period is as short as possible.
  • Premium cost: When reviewing a policy, make sure you know whether it’s a stepped or level premium structure and whether you’ll be able to afford the premiums in the long run.
  • Exclusive discount program: Get instant access to amazing discounts of up to 50% off big brands.
    • Stepped premiums start more affordable, but rates increase every year due to an increase in your age.
    • Level premiums are more expensive at the start, but rates do not increase every year because of your age.
  • How fast claims are paid: Make sure you know how easy it will be for your beneficiaries to lodge a claim and gain access to the cover amount.

No one policy is best for all people. The insurer and product you choose should be based on your specific needs and circumstances.

What is the best funeral insurance in Australia?

When choosing the best funeral insurance in Australia look for policies that tick all the right boxes. At the time you pass away, you don’t want your family wondering how they will be able to afford the cost of your funeral. Give them peace of mind by choosing a funeral policy with the following attributes:

number-1Level premiums

Choose a policy that offers you the choice to fix premiums so that it doesn’t increase as you age. This will allow premiums to be more affordable for the long-term.

number-2Capped premiums

Never pay more for your insurance than what the funeral will actually cost you.

number-3Guaranteed acceptance

No underwriting or medical tests required at application stage, this is also why funeral cover is usually so expensive.

number-4Discounts for multi-lives

Look for a funeral insurer that will give you discounts on your premiums when your spouse takes out a policy with the same insurer.

number-5Discounts for yearly payments

You might also want to consider insurers’ that offer discounts when you pay a yearly premium instead of monthly or fortnightly.

number-6Short waiting periods

Funeral policies usually have a 12-month accident-only period, meaning you will not receive cover unless your death is due to an accident. However, some insurers have longer waiting periods, up to 3 years.

number-7Money back if you die from natural causes

Try to find funeral cover that will refund all paid premiums if you were to die of natural causes during the accident-only waiting period.

number-8Worldwide cover, 24/7

Choose a policy that will provide cover when you travel. Not all policies will pay the cover amount if death occurs overseas.

number-9Straightforward claims process

Read your policy documents and PDS to ensure the sum insured will be paid to your beneficiaries upon receiving a valid death certificate or a certificate from a medical practitioner.

List of funeral insurance companies in Australia

  • 1300 Insurance: Ezicover funeral advantage
  • AIA: MaxLife Final Expenses
  • APIA: Funeral Insurance
  • American Express: Ezicover funeral advantage
  • ANZ: 50 Plus Life Cover Capped
  • Australian Seniors Insurance Agency: Funeral Insurance Plus
  • GIO: Funeral Insurance
  • HBF Financial Services: Ezicover funeral advantage
  • Insuranceline: Funeral Insurance
  • Let’s Insure: Funeral cover fixed
  • Medibank: Funeral Insurance
  • nib Health Funds: Funeral Plan
  • Real Insurance: Guaranteed funeral insurance
  • Suncorp Direct: Funeral Insurance
  • Zurich: Ezicover Funeral Advantage

As you can see above there are many funeral insurance companies and products to choose from. However, it’s important that you carefully consider your family’s need before selecting a policy, especially regarding the amount of money you want to leave behind.

The below table of insurance companies, offering funeral cover, shows the policy comparisons to help you make your decision. We looked at their entry and expiry age, as well as the maximum amount of cover available for you to purchase.

Company Product Max sum insured Min entry age Max entry age Quote
1300 Insurance Ezicover funeral advantage $15,000 35 75 Get Quote
AIA MaxLife Final Expenses $15,000 18 70 Get Quote
APIA Funeral Insurance $30,000 for stepped premiums and $15,000 for level premiums 45 75 Get Quote
American Express Ezicover funeral advantage $15,000 35 75 Get Quote
ANZ 50 Plus Life Cover Capped $15,000 50 70 Get Quote
Australian Seniors Insurance Agency Funeral Insurance Plus $15,000 18 79 Get Quote
GIO Funeral Insurance $30,000 for stepped premiums and $15,000 for level premiums 45 75 Get Quote
HBF Financial Services Ezicover funeral advantage $15,000 35 75 Get Quote
Insuranceline Funeral Insurance $15,000 21 85 Get Quote
Let’s Insure Funeral cover fixed $16,000 for stepped premiums and $15,000 for level premiums 18 70 Get Quote
Medibank Funeral Insurance $15,000 18 79 Get Quote
nib Health Funds Funeral Plan $15,000 18 80 Get Quote
Real Insurance Guaranteed funeral insurance $15,000 18 79 Get Quote
Suncorp Direct Funeral Insurance $30,000 for stepped premiums and $15,000 for level premiums 45 75 Get Quote
Zurich Ezicover Funeral Advantage $15,000 35 75 Get Quote

Most of  the above policies include a 12 month waiting period, however, if death occurred at this time and was not due to an accident all premiums paid thus far will be refunded.

After you have considered the list of funeral insurance companies, compile a shorter list of possibilities based on your needs and circumstances and then look at their reviews.

Because death is inevitable, it makes sense to plan and read reviews. Compare funeral policies now and ensure your final expenses will not be an unnecessary burden on your family.

Published: September 12, 2017
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Ask an Expert?


  • Christina |

    I just insured with Apia but I am worried I chose the wrong one and it will go up in the future and I won’t be able to afford it. How do I work out if it is stepped or level premium structure?

      Anneke |

      Hi Christina,
      You’ll be able to find out whether it’s a level or stepped premium structure by reviewing the APIA funeral insurance product disclosure statement (PDS), which you can download from their website. However, if you have any questions or concerns please give us a call on 1300 135 205 and a consultant will assist you.

  • Lyne |

    So many funeral insurance options. I just want one for a single female, 58 years old for $15,000 worth of cover and no big rises in premium payments. Also that they pay out straight away on proof of death certificate if natural death or death from sickness or accident.

      Anneke |

      Hello Lyne. Thank you for reaching out.

      For immediate assistance please call us on 1300 135 205 so we can help you find a policy suited to your requirements and budget.