Consumer Groups Tackle Funeral Insurance ‘Rip-Off’
A shame that consumers trying to do the right thing are being ripped off.
The most cost effective way to fund a funeral is by building a small amount of extra cover into your life insurance policy (inside or outside of super, depending on circumstances).
Article by Gerard Brody, Sep 3, 2013:
A number of consumer advocate groups have joined forces to call for an end to what they refer to as the ‘funeral insurance rip-off’.
According to the Consumer Action Law Centre, one of the eleven groups involved in the campaign, the funeral insurance industry is misleading consumers and needs to be reformed.
The advocacy groups have released a 13-point strategy to address a number of concerns. The groups believe the funeral insurance industry suffers from a lack of competition, poor disclosure from product providers and misleading advertising:
http://riskinfo.com.au/news/2013/09/03/consumer-groups-tackle-funeral-insurance-rip-off
