The Grave Robbers

Scott,

My husband Bill (88) and I (79) are on the aged pension and have been paying  funeral insurance for many years. It started under $100 per fortnight. Now it's $304, going up to $330 in March. Coverage is $22,000 each. Bill has two terminal illnesses and is on life support with portable oxygen. We pay rent from our pension and have almost nothing left.  Is there any way to stop this?

Wendy

Hi Wendy,

Reading your question has brought tears to my eyes.

The only reason you took out funeral insurance is because you didn’t want to be a burden on your loved ones. And these financial parasites are sucking you dry.

You've almost paid more in premiums than the $22,000 payout. If you'd put that money in a bank account earning 3%, you'd have enough for a funeral and money left over. Yet if you cancel, you get nothing back. They keep every cent you've paid.

How do they do this?

They buy ads on day time TV, and target pensioners with fear, lock them into contracts that bleed them dry, and count on people like you being too tired, too sick, too broke, or too scared to fight back.

Well, screw them.

They're taking $304 a fortnight from a couple on the aged pension with a dying husband on life support.

You're probably thinking, "But I'm 79, Bill's dying, and I don't have the energy."

That may be true, but I do.

I'll take this on personally. We're going to lodge a complaint with AFCA (Australian Financial Complaints Authority). AFCA has the power to force them to refund your premiums. It won't be easy, but I've helped other pensioners get their money back.

Let’s fight these bastards.