Peace of mind and ease financial worries associated with a loved ones funeral.
The death of a loved one is a very emotional time, often made more stressful by the costs of a funeral and bills to pay.
Funeral Plan will provide you with the comfort of knowing that you and your family are protected from the added worry of some immediate financial problems.
NZCU Funeral Insurance offers cover for $5,000, $7,500 or $10,000 to provide for the unexpected costs of a funeral.
The cost of an average funeral is hard to estimate as there are variable costs of the items normally involved. The best current guide we can give you is that the average cost for a conventional funeral is around $8,800. (estimated by the Funeral Director’s Association of New Zealand) However, there are prices advertised ranging from $3,000 for a very simple funeral to $15,000 and more.
Frequently Asked Questions
What if my nominated beneficiary dies before me? You can change your beneficiary at any time (for any reason).
Who can be a beneficiary? Anyone can be named as a beneficiary.
Can I borrow against my policy? No, your policy has no cash or investment value.
Can I cancel my policy? Yes, at any time. Simply contact us.
Does this policy affect my entitlements to any benefits or subsidies? No. The premiums payable are exempt from asset testing and the claim payment is tax free. If the death is accidental then ACC entitlements will not be affected.
Is there anywhere else I can go for help to pay for a funeral? In the event of a death you may be entitled to receive a Funeral Grant from WINZ.
- Guaranteed cover for anyone aged between 18 and 85
- No medical information required
- Up to 10 additional family members or friends can be insured
- Ability to nominate a beneficiary of your choice; otherwise the claim payment will go into the estate.
What’s not covered
- The cover ends when the insured person reaches age 86 years old
- There is no cover for children aged less than 18
- There is no cover for death by any cause other than accident in the first 12 months if you are under 76 of age (premium is fully refunded)
- There is no cover for death by any cause other than accident in the first 24 months if you are aged 76 to 84 years at the commencement of cover (premium is fully refunded)
Premiums for your Credit Union Account
- Premiums are paid monthly, deducted from your Credit Union account
- The premium is age based and it increases as each new age band is reached.
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