Consumers warned about funeral contracts

CONSUMERS are being warned to beware of "push advertising" for pre-paid funeral arrangements on daytime television. 
 
In a statement, NSW Fair Trading commissioner Rod Stowe said daytime TV was experiencing a "renaissance" in marketing around the issue of death and dying that "could play on people's insecurities about such matters".

"People need to shop around and go for products without the pernicious aspects of escalating costs with age," Mr Stowe said on Friday.

The Fair Trading boss said consumers needed to be aware that with some products there was the potential to lose payments if a contract or a scheduled transfer was cancelled.

Mr Stowe stressed to consumers considering buying funeral products that refunds were "not generally provided if a payment is missed or the policy is cancelled".

Consumers should read the product disclosure statement (PDS) that outlines what happens if the policy is cancelled, he said.

news.com.au 22 Mar 2013

Daytime television is also inundated with commercials for life insurance.

 

Life insurance companies are 'inciting' the public, which is against the law, urgently insisting customers take out insurance with false slogans like "enough to pay the mortgage of".

Another fraudulent industry that the legal system lets slip by, to the detriment of the unsuspecting public.