Help is on the way after the funeral insurance company collapses

As of April 1, 2020, people who have insurance policies with the collapsed insurance company Youpla will receive payment for funeral expenses.

The federal government announced Monday that up to 500 people affected by the collapse will receive payments in line with the insurance coverage holders of qualified insurance policy obtained in good faith before the collapse of Youpla Group, which is usually worth about $8,000.

The arrangements will be in effect until November 30, 2023.

Assistant Treasurer Stephen Jones said: “These are temporary arrangements that the government intends to put in place while it investigates the additional steps required to achieve a resolution in connection with the collapse of Youpla Group.”

“The government will continue to consult widely on these additional steps while implementing these interim arrangements.”

Mr Jones said the first priority was to reduce the immediate cultural damage and community grief caused by the Youpla Group’s liquidation

Affected people can register on the Treasury website.

Linda Burnie, Minister for Indigenous Australians, said the “business sorry” had profound cultural significance for First Nations peoples.

“It is imperative that traditional mourning practices be allowed to continue despite the collapse of Youpla Group’s funeral contribution funds earlier this year,” she said.

The decision followed a campaign by the Save Sorry Business Alliance, a group of more than 125 organizations.

The Aboriginal Community Benefit Trust, which trades as Youpla, sold unwanted Aboriginal and Torres Strait Islander funeral plans across Australia for decades before coming to the attention of the Royal Banking Commission and regulators.

The Australian Securities and Investments Commission has been investigating Youpla and its group of funeral donation funds since the collapse.


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