What Happens to My Prepaid Funeral Plan if the Funeral Home Closes?
Your money is safe, and in this video James explains why. Prepaid funeral funds in Australia are not held by the funeral home; they are paid into a secure trust, typically with a friendly society. As James covers in the video above, that means the funds stay ring-fenced for your arrangements no matter what happens to the business. Wondering what else Willed can wrap around a prepaid funeral? Watch how the Will and power of attorney can be handled by the same service.
Read the video transcript
So you needn’t worry about that, because prepaid funds and bonds are usually paid into a secure trust, usually a friendly society. So what will happen is, once you have organised your prepaid funeral with us or another provider, it’s generally paid into a secure friendly society. And then if anything happens to the funeral home, that money is secure in their account for the time that it’s needed for yourself.
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