ARRANGING A PREPAID NO SERVICE NO ATTENDANCE CREMATION (NSNA)
There are many decisions which need to be made and a lot of information which is required when someone dies. Arranging a prepaid funeral means most of the decisions and information are already recorded, taking both the financial and emotional burden away from family and friends at such a difficult time.
Some of the main benefits to you arranging a Gregson & Weight prepaid cremation or burial in conjunction with Sureplan Funeral Bonds are:
- A prepaid funeral plan documents your wishes which can help relieve your family and friends of emotional and financial burdens
- No hidden fees or extras to pay at the time of the funeral service unless you or your family add to the plan
- No ongoing payments. A prepaid funeral plan is a fixed cost therefore once you have paid in full, there are no additional costs unless you or your family add to the plan
- Locks in a funeral at today’s price even though you may not require a service for some time
- Your prepaid funeral service can move with you. If you move anywhere throughout Australia your funeral service can be transferred to another participating funeral home.
- Instalment plans are available
- No payout or claim forms required at the time of need.
- Sureplan Funeral Bonds bears any investment risk – not you. The prepaid services are guaranteed
- Travel Protection Plan available
- Some individuals may leave decisions to family members to make at the time of the funeral. Any additions to the original agreement will incur extra costs. These will need to be paid at the time of the cremation.
Plan how your life is remembered
Saying goodbye is never easy. But with a little forward thinking, comes clarity, comfort and the joy of reflecting the cost of your plan is fixed at today’s prices – protecting them from any future inflation (Conditions and fees may apply).
You’re also free to transfer for Sureplan Funeral Bond to another funeral director if your circumstances change.
Pre-paid cremation plans are priced according to your individual choices and are detailed in our current pricing schedule. The plan may include our professional service fee, coffin, transportation, documentation, cremation included) and full professional support. (Pre-paid NSNA burials also available, cemetery fees are not included)
The end of our lives may not be something we’re inclined to talk about, but an open chat about the inevitable needn’t be a sombre affair. We’d like to start that conversation, so you can do the same with your family and friends.
Pre-planning your funeral gives you the opportunity to pay in advance. With payment plans of up to three years and no hidden costs, this helps reduce the financial burden on your loved ones
A Gregson & Weight pre-paid funeral in conjunction with Sureplan Funeral Bonds is generally exempt from the asset tests for age pension purposes. However, pension eligibility depends on your individual circumstances. Please refer to Services Australia or seek independent advice.
Find peace of mind.
It’s comforting to know everything will be taken care of, no matter what. A prepaid funeral is guaranteed from the moment of payment, whereas missing an insurance payment often means cover lapses. Insurance may also cost more over time and is not protected from inflation.
All payments are held by Sureplan funeral Bonds, under APRA regulation. Funds are only released to the funeral home at the time of the funeral.
Frequently Asked Questions
When considering Sureplan Gold funeral bond, it’s imperative that you read the information contained in the Sureplan Gold Product Disclosure Statement (PRS) which is available for download HERE. Sureplan-Gold-19-April-2024.pdf
Also, we’ve assembled an extensive list of the most frequently asked questions.
None as an individual but the Fund pays a monthly Management Fee (maximum of 2% p.a. of the balance of the Fund) to the Sureplan Friendly Society Ltd General Fund to cover operating and administration costs. No fees come directly out of members’ contributions.
Under Australia’s current Goods and Services Tax (GST) rules your contribution/s, investment earnings and benefit payments do not attract GST.
Investment income earned by Sureplan on your investment in Sureplan Gold will be subject to tax in the hands of Sureplan, but when investment income is paid to nominees Sureplan may receive a tax deduction for that amount. This will mean that benefits paid by Sureplan may be effectively at their gross (or untaxed) value. The Board may declare a terminal bonus, based on taxable growth, payable in respect of claims paid in the twelve months following the annual 30 June actuarial valuation.
The investment income or bonuses component of benefits received will be subject to tax in the hands of your estate in the year in which they are paid. Whether any actual tax is payable will depend on your estate’s tax position in that year. Note though that the ‘capital’ component of benefits paid is simply a tax-free return of capital.
It is recommended that appropriate and independent professional advice be sought to determine how tax laws may affect your individual circumstances, mindful that these laws may change from time to time.
Yes, in accordance with the Fund rules. Please contact Sureplan Friendly Society Ltd for more information. However a Gregson and Weight Fixed Price Pre-Paid contract must be funded by a single membership.
Investment income earned by Sureplan on your investment in Sureplan Gold will be subject to tax in the hands of Sureplan, but when investment income is paid to nominees Sureplan may receive a tax deduction for that amount. This will mean that benefits paid by Sureplan may be effectively at their gross (or untaxed) value. The Board may declare a terminal bonus, based on taxable growth, payable in respect of claims paid in the twelve months following the annual 30 June actuarial valuation.
The investment income or bonuses component of benefits received will be subject to tax in the hands of your estate in the year in which they are paid. Whether any actual tax is payable will depend on your estate’s tax position in that year. Note though that the ‘capital’ component of benefits paid is simply a tax-free return of capital.
It is recommended that appropriate and independent professional advice be sought to determine how tax laws may affect your individual circumstances, mindful that these laws may change from time to time.
Stamp duty may apply to your initial contribution and any subsequent contributions, or on assignment of your policy. The rate of stamp duty payable varies from State to State, and if payable, will be deducted from your contribution/s.
Anyone can join, there are health conditions applicable to Sureplan Gold.
No. After the cooling off period the benefit is only payable upon your death.
There is no maximum contribution amount or number of funeral bonds that a member can use for their funeral cover. However for Centrelink and Veterans’ Affairs pensioners to qualify for an exemption under the Incomes and Assets Test, your contribution to a funeral bond is subject to a Government threshold (see Pension Advantages for explanation) and you cannot have more than two funeral funding arrangements. Also, for tax purposes, the money contributed to all funeral funding arrangements must not exceed the amount that would reasonably cover a member’s future funeral expenses.
Simply download the Sureplan Gold PDS and, if a Queensland resident, a Client Care Statement. Alternatively, call 1800 817 105 or email [email protected] and we will post you the necessary documentation. You will need to complete the Application Form contained in the PDS and the front page of the Client Care Statement and forward them to Sureplan, Reply Paid 899, Spring Hill Qld 4004.
The simple answer is convenience. When a member dies, we simply need to be advised of their death together with the name of the funeral director being used, and we will organise for the claim to be processed without the family needing to complete any paperwork. There are also other advantages for using Sureplan Gold for your funeral preplanning or prepaid funeral plans, including:
The amount deposited and accumulated interest (bonuses) can be exempt from the Income and Assets Test for Centrelink and DVA pensioners. The annual interest (bonus) credited to your funeral bond is not subject to taxation in your hands in that year. The accumulated bonus amount included in the funeral benefit payment at the time of your death will be treated as income for your estate. Your family can immediately commence with funeral planning arrangements as claims are paid with 24 hours of the confirmation of your death.
Sureplan has been managing funeral funds since 1935 and has a long and proud history of delivering outstanding benefits for members. Your investment in Sureplan Gold is safeguarded by the solvency reserves maintained in accordance with the prudential standards issued by the Australian Prudential Regulation Authority (APRA).