Investing in the Foresters Funeral Bond through the Regular Savings Plan provides peace of mind for you and your family.
People are becoming increasingly aware of the importance of planning for the future and pre-arranging your funeral as part of your planning and investment strategy offers protection against future increased costs of funeral expenses.
This can help provide your family with a sense of security, knowing that both the needs of you and your family will be looked after.
What is the Foresters Funeral Bond?
The Funeral Bond is a capital guaranteed, traditional life investment fund. The fund allows you to provide for all your reasonable future funeral expenses in advance.
Benefits of the Foresters Funeral Bond
- Capital guaranteed
- Exempt from assets and income tests, and deeming provisions
- Nil entry fee
- Flexible investment options
- Regular Savings Plan
- 14 day free look period
- No medical restrictions
How does the value of my Funeral Bond increase?
Bonuses are added to your Funeral Bond when they are calculated on 30 June each year. They are based on the annual earnings less the income tax paid by the Fund.
The Regular Savings Plan – how does it work?
Through the Bond’s Regular Savings Plan, you can invest as little as $ 100, with additional minimum contributions of $25 able to be made at any time. These contributions can be made by:
- direct debit of a bank account, or
- direct debit of Centrelink benefit entitlements.
What are the fees?
There is no entry fee on your contributions. Foresters Friendly Society charges an annual fee of 1.5% on the average balance of the fund’s gross assets.
What pensions are available?
Under current legislation, the Foresters Funeral Bond is an exempt fund for the purpose of the assets test, income test and deeming provisions specified by Centrelink and the Department of Veterans’ Affairs provided that the investment is kept solely to meet future funeral expenses.
How much can you invest?
When you assign your policy to a Funeral Director on the basis of a pre~paid funeral, you can invest any amount to cover reasonable future funeral expenses.
What is an assignment?
An assignment is where you assign your investment in the Foresters Funeral Bond to a Funeral Director and enter into a pre-paid fixed price funeral plan with that Funeral Director.
Upon your death, your investment will be paid directly to the nominated Funeral Director. There is no cost associated with assigning your investment.
How to invest in the Foresters Funeral Bond
You can invest by speaking to the Thompson Family of Central Highland Funerals on (03) 5348 4878, by calling Foresters Friendly Society on toll free 1800 645 326 or by visiting their website: http://www.forestersfs.com.au/