Why your funeral could be a great investment

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The cost of funerals has risen 20 per cent in the past few years, so it’s important to have a plan in place when it comes to payment.

There’s an investment you may not have considered that can achieve good returns, and it’s guaranteed that you’re going to need it one day: your funeral.

In aged care, the means testing of your assets is tiered. If your assets are between $59,500 and $201,231, you will have 17.5 per cent of your assets included in the means test, so for every $1000 spent on your funeral could save you $175 a year in aged care fees.For example: Jack is a full pensioner with assets worth $150,000. If he pays $25,000 for his funeral, his aged care costs will reduce by $4375 a year.

If you’re thinking about paying for your funeral, or buying a funeral bond, it’s important to realise that one may exempt more than the other. If your funeral and final resting place will be a large sum of money, then a funeral bond is not going to cover it.

 

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المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين