What if you go bust? We get asked that a lot.
The good news is, we intend to go out of business – only when people stop dying!
All jokes aside, we aren’t going anywhere. We plan to be around for many, many years to come. And in the extremely unlikely event that we aren't, with a Bare Prepaid your money is safe and secure.
How safe is a Bare prepaid cremation plan?
We can guarantee that every Bare prepaid cremation plan is completely safe. But for peace of mind, let’s explain the process.
When you purchase a prepaid cremation with Bare, we place the funds into a regulated bond with Lifeplan Australia Friendly Society, who have been managing funeral bonds for more than 50 years.
The individual funeral bond is created in the customer’s name and this is administered and managed directly by Lifeplan Australia Friendly Society.
The funds are invested specifically to pay for the funeral. This is the customer’s money.
We don’t have access to a cent until the time when the account-holder passes and the funds are needed for their funeral. That’s how we can guarantee that all funds paid into a Bare prepaid cremation plan are completely secure for years to come. That could be in three months, three years, or even 30 years’ time.
But what if Bare really does go under?
It’s understandable to be wary.
In the very unlikely event that we are not still in business by the time you pass away, your money is held totally safe in that regulated bond, in your name.
If this should happen, the funds can be transferred to another funeral provider to provide a comparative service.
Our co-founder Cale Donovan explains more in the below video.
How long has Bare been in business?
We launched Bare in 2019, but we partner with reputable local service providers all over Australia, that have been operating for much longer than that.
I have more questions about prepaid cremations.
That’s great because we have answers!
The answers to more common questions about Bare prepaid cremations can be found on our FAQ page, here.
If you’d like more details or if you have further questions to ask, our friendly prepaid concierge team would be happy to talk you through the process. Feel free to give us a call on 1800 202 901, or learn more about our Prepaid Services here.
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