Funeral Bond (Sureplan Gold)

Our Funeral Bond (Funeral Savings Account) is called ‘Sureplan Gold Funeral Bond’ and it is a conservatively managed bond that is an ideal way with which to put aside funds for your funeral expense. You can either invest a lump sum, or save using regular deposits from as little as $50 per month. Therefore it is an ideal funeral saving plan.

With Sureplan Gold you are not locked into a contract to pay monthly funeral insurance premiums. You choose how much you wish to pay and you are free to change your saving program at any time. And crucially, as you do not have to make compulsory payments (as with funeral insurance plans) you cannot lose your money if you fall into arrears – your money will always be there for your family. But please note, as Sureplan Gold is a funeral bond, you will be unable to access your funds after the 30 day “cooling off” period.

 

Sureplan Gold has some important benefits over traditional savings and investment funds

Pension Maximisation

You can contribute up to $12,750 (as at 1/7/2017) without it being subject to the Centrelink or Department of Veterans’ Affairs Income and Assets Test – this is very relevant for self-funded retirees who are either receiving a part pension or who are just outside the pension entitlement threshold. For more information, click on the link below;

www.humanservices.gov.au/customer/enablers/funeral-bonds-and-prepaid-funerals

Reducing Aged Care Costs
When entering an aged care facility an investment in Sureplan Gold may reduce your assessable assets and, as a consequence, reduce your accommodation costs. Sureplan recommends you receive independent financial advice prior to making a decision to invest in Sureplan Gold for this purpose.
Security
Sureplan Gold only invests in government bonds, highly rated corporate bonds (senior debt instruments issued by the major Australian corporates and banks) and cash.
Solid, predictable returns
Since its inception in 1998/99 Sureplan Gold has produced an annual return that equalled or bettered inflation for that year. While past performance does not guarantee future results, the investment strategy employed is focussed on delivering returns which equal or exceed CPI, with minimum risk.
Taxation Minimisation
Any bonuses credited to your Sureplan Gold bond will not be required to be included as income for taxation purposes. Unless you assign your Sureplan Gold bond to a funeral director or cemetery/crematorium business bonuses paid as part of your funeral benefit will be subject to tax in your estate.
Low Fees
Sureplan Gold has no entry, contribution or exit fees. However, if you die within 12 months of commencing your account any bonuses credited will be reversed.
Easy and Speedy Claims
Sureplan guarantees to pay the funeral benefit within 1 working day of receiving verification of your death from an independent source.
 

Recent Returns for Sureplan Gold Funeral Bond

Year Sureplan Gold Return Annual CPI (Inflation)
2007/08 5.25% p.a. 4.50%
2008/09 5.50% p.a. 1.50%
2009/10 4.70% p.a. 3.10%
2010/11 4.70% p.a. 3.60%
2011/12 4.80% p.a. 1.20%
2012/13 3.50% p.a. 2.40%
2013/14 3.00% p.a. 3.00%
2014/15 2.00% p.a. 1.50%
2015/16 1.50% p.a. 1.00%
2016/17 2.06% p.a. 1.90%

How does a Sureplan Gold Funeral Bond Work?

Sureplan Gold Funeral Bonds work in a similar way to a savings account as bonuses can be added to whatever you invest. As an example, if you were to invest $5,000 in a funeral bond and it returned an annual bonus rate of 5% p.a. for that year, your total investment would grow to $5,250. With your money secured, funeral preplanning can be taken care of easily and efficiently. (Please note that no indication of bonus rates is implied in the above example as the ability to pay a bonus and any future bonus rates will be reflective of the prevailing market conditions at that time).

 

Application Forms

The below forms are required for application of a Sureplan Gold Funeral Bond. Please download both forms and return to Sylvan Funerals. Alternatively, a funeral director can meet with you either in our office or your home to fill out the paperwork and provide guidance as to an appropriate value to invest based on your preferences. Call 3812 4000 to make an appointment.

Contributions can be either a lump sum payment, or periodical payments at an amount set by you. Minimum payment required upon funeral bond application is $50.