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split your funeral benefit

For a limited time only, APS members and either their spouse/partner or sibling may elect to combine their funeral benefits and then split the total funeral benefit equally. Selecting this option is at no additional cost to the usual membership fees or lump sums payable as described in the Combined FSG and PDS, it is simply an option for those who would like to split their benefit. 

What else do you need to know?

  • Once the benefit is split, it is non-reversible.
  • Non-member applicants under the age of 65 must become members of APS Benefits Group and pay a membership fee of $6.00 per fortnight.
  • Members have the option of buying additional funeral benefits with a single lump-sum payment.
  • If the age of either the member or non-member is younger, or no more than 5 years older than the member with the greater benefit, a 50/50 split of the combined total benefit will be applied.
  • If the age of either the member or non-member is between 5 and 20 years older than the member with the greater benefit, a 47/47 split will be applied. Note, that this reduced split accounts for the increased likelihood of the benefit being paid earlier than if it remained with the current member.
  • The new benefit entitlements remain eligible for bonuses.
  • For new members, there is NO mature policy option available after 5 years of membership.
  • New member funeral benefits cannot exceed $20,000. 
  • APS Benefits Group does not require any health evidence before making the election.

Examples of splitting your funeral benefits

Example 1

Both applicants are members and are currently paying the normal fortnightly membership fees.
One member (aged 60) has a funeral benefit of $2,690 and the other member (aged 58) a funeral benefit of $1,620. If the members elect to combine and then split their funeral benefits, each will be entitled to a funeral benefit of $2,155. This is calculated by adding 2,690 + $1,620 and then dividing by two. The current membership fees for each member continue to be payable to age 70.

Example 2: 

A member paying fortnightly fees with a non-member spouse/partner/sibling over the age of 65. The member (aged 67) has a funeral benefit of $8,500. The non-member spouse (aged 69) being over 65 is unable to become a member by paying fortnightly fees. The member can still elect to split the funeral benefit with the non-member spouse who would otherwise have no entitlements to a funeral benefit. If this option is elected, the member and the non-member spouse will each be entitled to a funeral benefit of $4,250 which is calculated by dividing $8,500 by two. The current membership fees for the member continue to be payable to age 70.


Example 3: 

Both are members and are currently paying fortnightly membership fees.
One member (aged 55) has a funeral benefit of $5,000 and the other member (aged 65) a funeral benefit of $3,000. If the members elect to combine and then split their funeral benefits, then each will be entitled to a funeral benefit of $3,760. This is because $3,760 is 47% of $8,000 ($5,000 + $3,000). The 47/47 benefit applies as the age of the member with the smaller funeral benefit is between 5 and 20 years older than the member with the greater benefit. The current membership fees for each member continue to be payable to age 70.

Interested in splitting your benefit?

This offer is available until 31 May 2021 so get in quick if this offer is of interest to you. 

You can request a benefits split quotation here.

Please read the PDS for more information and reach out to the team if you have any questions.

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