The loss of a loved one is never easy. And it can be made even harder if you’re struggling to cover the costs of a funeral. That’s why funeral insurance exists. It can help you protect your loved ones financially after you die. It provides them with a cash payout that they can use towards your funeral and end-of-life costs. And it can make a huge difference at an already difficult time.
How Does Funeral Insurance work?
A Just Funeral Insurance policy lets you leave your loved ones a lump sum payment of up to $30,000.1 They can use this to help cover your funeral expenses when you die. You simply pay regular fortnightly or monthly premiums and enjoy peace of mind, knowing you’ve put a plan in place for your family. The loved ones who you leave your payout to, are called the ‘beneficiaries’. And the cash payout is officially called the ‘benefit amount’.
Do I need Funeral Insurance?
A funeral insurance policy could be a simple way of making sure your loved ones have some financial help when you pass away. Here are some of the things you should consider when deciding if you need to take out funeral insurance:
- What are your needs? What type of funeral do you want? There are lots of choices available which include burial or cremation options, service type, coffins, whether there will be catering services for attendees and lots more. How much would your preferred service cost?
- What can you afford? It’s important to choose a fortnightly or monthly premium you can afford. You’ll need to keep up with payments to ensure your cover stays in place.
- Who would you like to leave the payout to? Consider who you’d like to help protect from the burden of your end-of-life expenses.
- Factor in inflation. Consider how funeral costs in New Zealand might change over time. Will the payout amount you choose now, be enough to cover funeral costs when the time comes?
Whether funeral insurance is suitable for you or not, is a personal matter. Everyone’s circumstances are different. If you’re unsure, you can consider seeking professional financial advice.
Am I eligible?
If you’re a New Zealand Resident aged 50 to 80, we guarantee to accept you for Just Funeral Insurance. We keep it all as simple and straight-forward as possible, and there are no medicals or blood tests needed for approval.
When should I take it out?
When you should ideally take out funeral insurance, depends on your individual circumstances and needs. It may be a good time to start a policy when:
- You’re at a younger age: Starting at a younger age can mean you enjoy lower premiums.
- Your budget allows: When you can comfortably afford the premium payments without straining your budget.
- You’re ready for peace of mind: When you want to ensure your loved ones are financially prepared for your funeral costs.
What are the benefits of Just Funeral Insurance?
At Just Insurance we offer you easy and affordable funeral insurance you can rely on. We keep things straight-forward and explain everything to you clearly. And we understand your family are the most important people in the world. So you can feel reassured we’ll be there for them when the time comes.
Here's how we help you protect your family:
- Cash payout - Choose up to $30,000 of cover1 to help protect the people you love.
- Terminal Illness coverage - Get a payout while you’re still alive, if a medical specialist says you have 12 months or less to live.2 This means you can plan your final wishes without worrying about costs.
- Straightforward claims - Making a claim is simple. Our dedicated claims specialists are on hand to help you and your loved ones.
- Designed to be affordable - Our cover is designed to be affordable and if you’re a non-smoker you’ll enjoy lower premiums.3
- Guaranteed acceptance - If you’re a New Zealand Resident aged 50 to 80, we guarantee to offer you cover.
- Easy application - We've made it super easy to get covered. Get it sorted in just a few minutes over the phone with no need for medicals or blood tests.
- Immediate double cover for Accidental Death – From the very start, your loved ones will get double your payout amount if you pass away because of an accident.
- 30 days to make sure you’re happy – If you want to cancel during the first 30 days from the policy commencement date, you’ll be refunded the money you’ve paid so far, if you haven’t made a claim.
- No more premiums after age 90 - From the policy anniversary after your 90th birthday, you won’t need to make any more payments – but your cover keeps going for life.3
- Exclusive - Just Insurance is exclusive to us, you can't buy it anywhere else.
- Free Will Kit - You’ll get a free Will Kit when you take out our funeral insurance.
Some important things you should know:
- Just Funeral Insurance is an insurance policy, not a savings or investment plan.
- You may pay more in premiums than your benefit amount.
- Your benefit amount may not cover all your funeral expenses and associated costs, or the costs associated with a Terminal Illness. Inflation may also reduce its value over time. It is important to carefully consider the benefit amount you choose.
- Cover is for accidental death only within the first 12 months. After 12 months, cover is for any cause of death and Terminal Illness.
- If you change your mind within 30 days from the purchase date ("cooling-off period") and no claim is made, you may cancel your policy and receive a full refund of any premiums paid. If you cancel your policy after the cooling-off period, you do not receive your premiums back, nor will you be entitled to any benefit amount.
View full policy terms & conditions
When will I be covered?
When you take out Just Funeral Insurance, you’ll have immediate double cover for accidental death. That means from day one, your loved ones will receive double your chosen payout amount if your death is due to an accident. You’ll be covered for just accidental death within the first 12 months. After 12 months, you’ll be covered for any cause of death and Terminal Illness, as defined in the Policy Document.
How long does the policy last?
As long as you keep up with your premium payments, you will be covered for the whole of your life with Just Funeral Insurance. This means however long you live, your loved ones should receive their cash payout when you die. It’s reassuring to know they will have that financial help towards funeral costs when the time comes.
How much does a funeral in New Zealand cost?
How much a funeral costs really depends on your own circumstances and the type of funeral you choose. Learn more about the cost of funeral insurance in New Zealand in our guide here.
How much will my premiums cost?
It’s important you choose a monthly or fortnightly premium you can comfortably afford. Here are some of the factors that can affect your premium:
Age:
The younger you are when you take out your policy, the lower your premiums will be. However, it’s worth remembering, if you start younger you could end up paying more overall - as you could pay premiums for longer, depending on how long you live.
Gender:
Your gender may impact premiums, with women often paying lower rates due to longer life expectancy.
Cover Amount:
The sum insured (the size of the cash payout your beneficiaries will receive) directly affects the premium. A bigger payout leads to higher premiums.
Smoker Status:
Smokers tend to pay higher premiums because of the increased health risks associated with smoking.
Talk to our specialists to find out more
If you’re considering funeral insurance, we’re here to help you. Our friendly team of specialists at Just Insurance will be happy to answer any questions you have, with no pressure to buy. Simply give us a call on 0800 452 628 to learn more and get your quote.