Funeral Fund. (FAQ)

A Funeral Fund is a dedicated investment designed to help cover your funeral expenses. It allows you to set aside money now, so your family isn’t burdened with those costs later.

This product is available to individual (retail) investors only. It cannot be opened in joint names or in the name of a company, trust, or other entity.

• Minimum investment: $100

• Maximum investment: Set by the Federal Government and may change over time.

Link – ATO – Funeral Bonds (refer to the Funeral Bond Allowable Limit section)

Yes. You can contribute additional funds at any time, up to the government limit.

You can add funds in several ways:

• Bank transfer (EFT) from your account
• Scheduled regular transfers
• Telephone Transfer Service (if enabled)
• Cheque or manual deposit

All funds must come from a bank account in your name.

Interest is calculated daily on your balance and paid monthly.

No. The interest rate is variable and can change over time.

No. There are no transaction or ongoing account fees.

No. Under no circumstances can funds be accessed during your lifetime. This investment is strictly set aside for funeral expenses.

When the time comes, the funeral home can send an invoice directly to UC Invest. Payment is then made from the Funeral Fund toward those expenses.

The full balance of the Funeral Fund will be paid toward the funeral, and any remaining amount will need to be covered by the family.

Any remaining funds after funeral expenses are paid will become part of your estate.

If the funds are not used for funeral costs, the full balance will be paid into your estate and managed according to estate processes.

Funeral Fund investments may be exempt from Centrelink income and asset tests, subject to specific conditions and limits.

This is a long-term arrangement. You won’t be able to access the funds during your lifetime, so it’s important to only contribute money you are comfortable setting aside permanently.

Funds can be released promptly to help cover funeral expenses once the required documentation (such as an invoice) is received.

Yes. If you have access to UC Invest Online, you can view your balance and transactions.

Yes. If you’re registered for Telephone Transfer Service (TTS), you can make contributions or request certain account changes by phone.

All contributions must come from a bank account in your name. This is a security requirement.

Returns are not guaranteed, and Funeral Fund investments are not covered by government deposit insurance.

You want to plan ahead and reduce financial stress on your family

You’re comfortable setting aside money you won’t access

You want a simple, dedicated way to cover funeral costs