Provision of Financial Counselling for eligible recipients of the Youpla Support Program

The National Indigenous Australians Agency (the Agency) requires the provision of financial counselling for former policy holders of the Youpla Group as part of the Youpla Support Program (YSP).

The YSP will provide a resolution payment to persons who held a funeral insurance policy with the Youpla Group (also known as the Aboriginal Community Benefit Fund) that was active anytime on or after 1 August 2015. Estimates based on available data indicate that approximately 13,700 persons held policies during this period.

The program commences on 1 July 2024. Applications close on 30 June 2026. Resolution payments will continue until 1 December 2026.

The value of the resolution payment will be determined by NIAA, assessed at 60% of the total premiums paid up to their policy limit.

Eligible recipients under the YSP will be able to reinvest their resolution payment into a funeral bond, or they can opt to receive it as a cash payment. Eligible recipients will be offered free, voluntary financial counselling prior to making their decision to help inform their choice.

The successful Supplier will need to provide financial counselling to former policy holders to support their understanding of the program, the options available to them and the effects those options may have on their finances.

Due to the high proportion of First Nations persons among former policy holders, the successful Supplier must be able to demonstrate the capacity to provide financial counselling in a culturally appropriate manner. Additionally, as a significant proportion of former policy holders are located in remote and regional areas, the successful Supplier is to establish and maintain reliable contact in these areas.

Eligible recipients who opt for the financial counselling will be referred to the successful Supplier via the secure online Government portal ‘Business Hub’.

The successful Supplier will be asked to deliver financial counselling to eligible recipients from the YSP commencement date of 1 July 2024.