August 18th, 2020
With the cost of dying continuing to rise and the average funeral cost in Australia estimated to be between $6,000 and $15,000, families are often unprepared for the reality of how expensive a funeral will cost leaving them with financial hardship and debt worries.
As a way of understanding the concerns many Australians have around the affordability of funerals, leading Australian owned company, Sydney Funerals Co. have commissioned the ‘Sydney Funerals Co. Affordability Report’*. Released today, the report shows an alarming 6 in 10 Australians (61%) have concerns about how they would cover or afford the cost of funerals. 32% of Millennials (i.e. Australians born between 1981 through 1996) are worried about ‘funeral poverty’ if they were faced with this situation. Alarmingly among those who have concerns, 45% said that they were unaware of how their loved ones have planned to cover the cost of their funeral. Only 26% of Australians are not concerned because they are aware of the financial plans of their family should they pass.
Providing an affordable solution to alleviate these concerns is ‘Tap A Little Contribution’ (TLC), a new technology solution set to help family’s community contribute towards the cost of the service, the wake or to a charity of choice for the family.
Launching on August 16, TLC gives service guests the option to nominate an amount they wish to donate and tap their card on a specialised TLC terminal present at the funeral or alternatively donate in private via a bespoke service link. All contributions are done through a safe and secure platform hosted by Square and go directly to the family, with no management fees, giving families the choice to contribute funds where they need it most.
Founder of Sydney Funeral Co., Scott Duncombe, describes how he was concerned by the number of people who run themselves into financial difficulty to fund a funeral, which drove his decision to launch TLC and offer another affordable solution for Sydney Funerals Co. services.
“Often the passing of a family member can be a sudden situation and time and time again, we know some families struggle to pay for a loved one’s funeral and give them the send-off that they deserve. The launch of TLC gives families choice to direct the funds to where it will have the greatest impact whilst taking away the guesswork for extended family, friends and colleagues of their loved one to support them a little or a lot. "
“For years some cultures have been doing this at weddings and other milestone life events where all guests make a contribution to the family, individual or couple. We are proud to be introducing technology solutions and affordable options like TLC to the funeral industry and look forward to championing this as the norm, alleviating the extra stress and worry, in what is always a difficult time.”
Robyn Foster, Vice President of the Funeral Celebrants Association of Australia adds, “It is great to see businesses like Sydney Funerals Co., driving innovation with the launch of TLC. This is a real game changer for the industry and will mean that families have the chance to celebrate the life of their loved one without the financial burden. I congratulate them and look forward to seeing the impact that it has on the lives of many Australians.”
TLC is one of many affordable solutions and services that Sydney Funeral Co. offers to reduce the likelihood of Australians suffering funeral financial burden after a loved one passes away. They also offer a transparent pricing policy, including a full breakdown of itemised costings and funeral plans available on their website, allowing families to clearly see what they are paying for as well as providing a range of options when it comes to choosing coffins, caskets, locations and other options which provides families with alternative choices that are less traditional.
For more information about Sydney Funerals Co and Tap A Little Contribution - please visit - www.sydneyfunerals.com or www.tapalittlecontribution.com.au
Scott Duncombe is available for interviews and can provide commentary and insights on the following topics;
The ‘Sydney Funerals Co. Affordability Report’ findings
The launch of ‘TLC’ and how it will alleviate ‘funeral poverty’
Funeral affordability and solutions to help families