Taking care of your funeral costs now can help remove financial concerns for your family and friends at a difficult time.
The Bendigo Funeral Bond is a capital-guaranteed savings and investment plan that solely accumulates funds for your funeral expenses.
Product is issued by Australian Friendly Society Limited
Along with peace of mind for family and friends, Bendigo Funeral Bond offers:
- Easy financial terms: start with as little as $500 or $42 per month via our savings plan (plus a contribution fee)
- Low-risk investment strategy
- Capital-guaranteed investment and accumulated bonuses
- Professional investment management and administration
- Valuable Centrelink and Department of Veterans’ Affairs income and assets test exemptions
- Single or joint ownership
Bond holders also have the option of the Bendigo Funeral Bond Travel Protection Plan*, which covers transportation costs in the event of your death within Australia – 70kms or further from your residential address.
It covers the cost of transporting your remains from the place of death to your funeral home, up to a maximum of $3,000. The funeral home must operate within 70kms of your residential address.
You must be a permanent Australian resident aged 18 to 84 years to be eligible to apply for the plan. The cost is $150 per plan for both joint and individual cover.
*The Travel Protection Plan is issued by AIA Australia Limited ABN 79 004 837 861 AFSL 230043, and distributed by Australian Friendly Society only. Refer to the Disclosure Document for more information.
The tables below outlines annual returns for previous years:
|30 June||Bonus Rate¹||Funeral Bond Tax Benefit²||Total Return³|
Note: these figures represent past performance only and are not necessarily an indication of future performance.
¹ The Bonus Rate is paid annually and is capital guaranteed once declared. It is calculated after deduction of fees and charges (including tax).
² The Funeral Bond Tax Benefit is a non-guaranteed supplementary amount that the Australian Friendly Society expects to pay as part of the funeral benefit payment. For more information, refer to the Termination Bonus section of the Bendigo Funeral Bond Disclosure Document.
³ The Total Return is the sum of the Bonus Rate and the Funeral Bond Tax Benefit.
Are you affected by the pension changes?
On 1 January 2017 the Australian Government implemented changes to the assets test used to calculate pensions.
Investments of up to $12,750 (current threshold for the 2017-18 financial year) in a funeral bond such as the Bendigo Funeral Bond, are exempt from Centrelink and the Department of Veterans’ Affairs income and assets tests.
For more information on the changes to the pension assets test, please contact Centrelink, Department of Veterans' Affairs or your financial adviser.
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