Funeral Insurance

Yes, you can nominate beneficiaries to receive the Funeral Benefit, which is the lump sum paid out at claim time. If you choose not to nominate anyone as your beneficiary, any benefit payable will be paid to the policy owner or to your estate.

Yes, you can include multiple people on your funeral policy. Covering two or more people on the single policy means there’s only a single policy number, less paperwork and a 5% multi-life discount*. The multi-life discount doesn’t apply to the optional Accidental Death Cover.

Terms and Conditions apply. Refer to the Product Disclosure Statement for more information.

Yes, you can take out funeral insurance on behalf of your parents, in which case you will be the beneficiary. However, before you take out a funeral insurance policy, it’s a good idea to have a conversation with your parents to see if they already have a policy or a plan in place. If you both have funeral insurance, both policies can pay out a lump sum to help pay for funeral expenses including the coffin, burial expenses, plot, flowers, a wake and even transport costs for loved ones to attend the funeral.

Funeral Insurance and Funeral Plans are two different approaches to covering funeral expenses. While Funeral Insurance offers a lump sum payout to your beneficiaries upon your passing, you pay a premium on a regular basis (fortnightly, monthly, or annually) and choose the benefit amount they will receive. On the other hand, Funeral Plans are a pre-payment option that requires you to plan and pay for your funeral ahead of time. This typically involves a non-refundable upfront deposit, followed by regular payment instalments.

Funeral Insurance with APIA covers all causes of death, including suicide, after 12 months of obtaining the funeral insurance policy. No funeral benefit is payable if you die during the first 12 months from any cause other than Accidental Death. For a full list of exclusions and policy details, read the PDS.

Health insurance does not cover funeral expenses because its benefits are intended for expenses related to your health and wellbeing. If you pass away, there is usually no benefit from health insurance to help with funeral costs and other related expenses. On the other hand, Funeral insurance can provide a lump sum benefit that your loved ones can use to cover the expenses associated with your funeral.

If you have life insurance coverage, the benefit(s) received by your loved ones can be used to pay for funeral expenses. If you opt for Funeral insurance instead of life insurance,  you can avoid answering medical or health questions, your age is no barrier, and you may be able to obtain a lower sum insured.

You can choose to pay your Apia Funeral Insurance premiums fortnightly, monthly or yearly.  

Once you’re over the age of 85, the Early Payment Benefit lets you either keep your cover and continue to pay premiums for it, or cash it in early to receive an immediate payout of 120% of your average funeral cover excluding Bonus Cover and the optional Accidental Death cover. The Early Payout Option may affect entitlements to the age pension and other government benefits.

The Funeral Benefit will not be paid if the life insured passes away in the first 12 months of the policy for any reason other than an accidental death.

If a life insured dies during the first 12 months of cover from any cause other than accidental death, APIA will pay a benefit amount equal to the Funeral Insurance premiums you’ve paid for that life insured.

The Youpla Group, also known as the Aboriginal Community Benefit Fund (ACBF) sold insurance policies to First Nations people and went into liquidation in March 2022.

To help the families of fund members affected by the collapse, the Australian Government is running a support program for those affected.