Don't worry about a funeral plan.

Look into Life insurance, within your super policy if you can as it is often cheaper. Life insurance is worth while if one of you pass away, but you should also look at protecting at least the main income earners income with income protection, which can also be done through your super. That means your payments come out of your super fund and not your hip pocket if funds are tight at the time.

I would suggest calling what ever super fund you are with first and asking what cover you have at the moment. MOre times than not you have some automatically included.

My DH and I have $500k each which sounds like a lot but once the mortgage is paid out there isn't much left to be without one income for the spouse that has passed. I will be increasing this amount once this bub is born. We also both have income protection insurance.