1984
Tobin Brothers has always been recognised as one of the industry’s most prolific innovators; A proud demonstration of that reputation is when the company launched its Fixed Price Funeral Plan in 1984. The creation of the Funeral Plan (under the management of economics graduate Gavan Tobin) came about because of the increasing number of people who were keen to put in place plans for their eventual funerals.
The most attractive aspect of the Fixed Price Funeral Plan is that the price is fixed forever so that even in the event of the purchaser living another ten or twenty years, the cost of the funeral, regardless of inflation, would remain unchanged from the day the contract was signed. A much better alternative to Funeral Insurances.
The appeal of the Fixed Price Funeral Plan quickly became evident. Other companies, critical at first, soon followed suit by introducing similar prepaid schemes; in 1993 all such funeral plans were protected under law by the passing of the Pre-Paid Monies Act in Victoria, this means that even in the event of a funeral company’s closure, the contract will be honoured.