Final Expenses Cover provides a lump sum payment of up to $15,000 on the death of the insured person. This payment can be used for any purpose including assisting with the costs associated with a funeral and paying off any outstanding bills or small debts.
With Final Expenses Cover you can choose either Stepped or Level premiums. With Stepped Premiums you pay less to start with but your premium is recalculated each year and is based on your age at the time and your current benefit amount. Your premiums will generally go up each year as you get older especially after age 75 which is why we offer a special Cashback feature with this version of the cover.
The Cashback feature provides a lump sum payment equal to 5% of the amount of cover you’ve had in each year that you’ve had the cover. The Cashback is payable if for any reason you decide not to continue the cover after the insured person turns 75, provided you’ve had the cover for at least 5 years.
Final Expenses Cover also comes with another very special offer - your first year’s premiums are waived which means there is absolutely nothing to pay for a full 12 months!