Why Pre Pay?
Many people choose to pre pay their funeral to make sure things are easier for their family/executor(s) during the difficult and stressful time after someone dies, easing their financial burden.
Currently with WINZ asset testing, when a person is tested to go into Residential Care, prepaid funeral deposits (of up to $10,000) are exempt.
Peace of mind - that arrangements have been made to ensure your funeral account can be paid.
Rosewood Funeral Home Client Funds Account
Rosewood has a Pre Paid Funeral Account with ANZ Bank Masterton. This bank account holds client funds and accrues interest on each deposit. The funds are only released on presentation of the clients death certificate, funeral account and a “death benefit request form”, which is signed by the executor / next of kin and the funeral director. Payment will be made to the company engaged in providing the funeral services (including monumental services), and any balance (less a small administration fee) will be released to the client’s lawyer or approved administrator of the estate.
Frequently Asked Questions
Who can deposit money into Rosewood Funeral Home Pre Paid Funeral Account?
There are no age restrictions or health checks, as this is not insurance, rather a pre-payment of funds into a secure account held with ANZ Bank through Rosewood Funeral Home.
What happens if I move towns after I deposit money with Rosewood Funeral Home Pre Paid Funeral Account?
Payment will be made to the funeral company engaged to provide the funeral services. They need to provide a funeral account and death certificate and sign the “death benefit request form” to access the funds held in their client’s name.
What if I change my mind?
If you change your mind about depositing funds, you need to advise Rosewood Funeral Home in writing within 21 days of signing the contact for prepayment of funeral services and any money paid into the Client Funds account will be refunded in full.
How much can I deposit?
There is a minimum deposit of $1000.00 with multiples thereafter minimum of $100.00 or greater, paid monthly. There is no maximum deposit.
How much does it cost to deposit money into the Pre Paid Funeral Account?
There is a one off administration charge of $150.00. Each financial year there is an annual administration fee of $50.00.
If you wish to know more about Rosewood Funeral Home Client Funds Account please contact 06 370 8088 to make an appointment so we can answer more of your questions, or help you complete the “Prepayment for Funeral Services Contract”.