We are pleased to offer you, our members, the opportunity to split your funeral benefit with your spouse, partner or sibling until November 30th, 2017.

Please read all the information and if it suits you complete the online form to receive a full quote for your consideration.

You should read the APS Benefits Group Combined Product Disclosure Statement. You should also read the Supplementary Product Disclosure Statement that specifically relates to Funeral Benefit Splitting.

Here are some examples of how Funeral Benefit Splitting works:

Example 1

Both are members and are currently paying the normal fortnightly membership fees. One member (aged 60) has a funeral benefit of $2,690 and the other member (aged 58) a funeral benefit of $1,620. If the members elect to combine and then split their funeral benefits then each will be entitled to a funeral benefit of $2,155 i.e. $2,155 = ($2,690 + $1,620) divided by 2.

The current membership fees for each member continue to be payable to age 70.

Example 2

A member paying fortnightly fees with a non-member spouse/partner/sibling over the age of 65. The member (aged 67) has a funeral benefit of $8,500. The non-member spouse (aged 69) being over 65 is unable to become a member by paying fortnightly fees. The member can still elect to split the funeral benefit with the non-member spouse who would otherwise have no entitlements to a funeral benefit.

If this option is elected the member and the non-member spouse will each be entitled to a funeral benefit of $4,250 i.e. $4,250 = $8,500 divided by 2.

The current membership fees for each member continue to be payable to age 70.

Example 3

Both are members and are currently paying fortnightly membership fees. One member (aged 55) has a funeral benefit of $5,000 and the other member (aged 65) a funeral benefit of $3,000. If the members elect to combine and then split their funeral benefits then each will be entitled to a funeral benefit of $3,760 i.e. $3,760 = 47% of $8,000 ($5,000 + $3,000).

The 47/47 benefit applies as the age of the member with the smaller funeral benefit is between 5 and 20 years older than the member with the greater benefit.

The current membership fees for each member continue to be payable to age 70.

If you have any further questions, please contact us on 1300 131 809.



Australian Financial Services Licence No: 244115. Date of preparation 31 July 2017.