Increasingly, as well as preplanning a funeral, people also want to set aside an amount towards their funeral*. Contributing towards your funeral costs may help relieve your family of the financial burden.
*An estimate cost for the funeral you want can be given, however this figure is not price fixed and is subject to inflation.
HOW DOES PRE-PAYING FOR YOUR FUNERAL WORK?
Firstly, we want you to have peace of mind when you plan your funeral with Sibuns Funeral Directors & Advisors. After discussion with a funeral director at Sibuns, any prepayment amount is held in trust for you or your nominee by The Funeral Director’s Association of New Zealand Funeral Trust or the Public Trust Funeral Trust.
Established by the Funeral Directors Association of New Zealand, which represents over 80% of NZ funeral firms, the FDANZ Funeral Trust operates under a trust deed. All trust funds are managed taking into account the appropriate risk profile for pre-paid funeral funds. The Trustees take advice from an independent actuary prior to setting the investment portfolio for the Trust. The funds are then diversified into a portfolio of on-call deposits and term deposits of varying duration. The trust deed requires all of the funds in the Trust to be held by a Bank that is registered with the Reserve Bank of New Zealand.
Under current Government policy, prepaid funerals up to $10,000 are excluded from asset testing when assessing eligibility for a subsidy in long- term residential care for the elderly.
The FDANZ Funeral Trust is not an insurance policy. No health checks or personal questions are needed. Anyone, of any age or health status, can prearrange an FDANZ Funeral Trust funeral with Sibuns Funeral Directors & Advisors.