3006-COFFIN-THUMB-100x66Emily Chantiri writes in the SMH "Funeral plans have their benefits but the devil is in their details as members pay through the nose."

The National Information Centre on Retirement Investments (NICRI) says ensuring your family does not suffer financially in the case of your death is a good idea, but warns consumers to be very careful before signing up for funeral insurance and other prepaid funeral plans.

NICRI technical and education executive officer Basil LaBrooy says the advertisements are very effective at pushing the peace-of-mind aspect.

''Funeral insurance, like any insurance, has its benefits; the question is can the expenses be met more effectively in some other way? The only way one could say they are a good idea or not is by knowing the date of death of the insured!'' he says.

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