Northern Beaches Mums Group
Northern Beaches Mums Group

A Simple Guide to Prepaid Life and Funeral Plans for Single Mums

Death is the most natural part of being human, but one of the most difficult topics to think about. This is especially true if you are thinking about your own. As a single mother, it is important that you plan ahead of time and ensure your children do not have to manage a funeral on their own when they are most vulnerable. Here are some reasons to consider when planning to apply for a prepaid funeral plan.

What are the Prepaid Funeral Arrangement Options I Have? 

There are three most common ways people choose to plan for their funerals ahead of time. They are funeral insurance, prepaid funeral and funeral bonds. In this article, we look at prepaid funerals, what they are, and their pros and cons. 

What is a Prepaid Funeral?

This is a scheme where you sign a contractual agreement and then pay a lump sum or small instalments to a funeral services centre like Cosmopolitan Funeral Services. The money is then used to pay for your funeral services. Different services are covered under each scheme, which differs from one funeral service to another. Make sure you choose one that covers your needs. 

When you pay your money to a funeral service as part of a prepaid funeral scheme, you also get to lock in on today’s money. There will be increased charges, but you would not have to worry about that with a prepaid funeral scheme. 

Why Should I Think About Prepaid Life and Funeral Plans? 

  • Save money: Your death directly impacts your children, but your funeral and its costs need not. You will also be surprised to know the high funeral charges in Australia, which are currently around $7,499. Investing in a prepaid funeral plan means you pay only today‚Äôs price for your death that may happen anywhere in the future. This means you are saving a lot of money. 
  • At peace with your departure: As a single mother, you will greatly think about your children. Once your death happens, they may be grieving and confused. Planning ahead means you can make a proper departure and arrange a funeral in your style, showing those you leave behind what you want them to see. You can also come to terms with your death and your children. 
  • Save your family from the stress: As a single parent, you can save your children and family from the stress of arranging a funeral for you. It is horrible enough to lose a loved one. One can only imagine the pain they go through to put together a farewell and say final goodbyes.  

Advantages and Disadvantages of a Prepaid Funeral Arrangement 

Now that you are considering a prepaid funeral plan let us share some of the advantages and disadvantages of a prepaid funeral. 


  • You do not have to worry about the increasing prices as you have locked in on today’s price. 
  • You can plan your memorial service. Instead of simply a financial payout, with a prepaid funeral, you can actively arrange your funeral in the way you see fit. 
  • You save your family from the additional stresses of arranging a funeral. 
  • It is cheaper than funeral insurance or funeral bonds in the long run. 
  • You can pay for the funeral in instalments. 
  • The amount you pay for your funeral is exempt from the asset test. 
  • You can get an almost full refund if you change your mind within a month. 

Now let us look at the disadvantages of prepaid funerals. 

  • You may not be able to transfer the service provider
  • The contract may not be valid in every state and territory 
  • There may be exclusions in case you change your mind. 

Final Thoughts

Thinking about death is unpleasant, especially if you are a single mother or father. You need not worry without hope, as there are provisions like prepaid funerals that give you a sense of control over how you leave this world behind. Be it for your family, children, or friends, you can choose to be remembered the way you want.