Royal Commission: Funeral products and services which target Aboriginal families

As the Royal Commission into Misconduct in the Banking,
Superannuation and Financial Services Industry holds hearings in
Darwin, Consumer Action Law Centre, Victorian Aboriginal Legal Service
and Victoria Legal Aid are calling for more suitable funeral products and
services for Aboriginal families in a Joint Statement issued today.

The three organisations have significant concerns about the design and
sale of funeral insurance across the private funeral insurance market
including costs that increase with age and certain health conditions.
ASIC reported in 2015 that the average premium for people aged 80 to
84 was four times higher than for those in the 50 to 54-year-old
bracket.

 

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