Annunties were traditionally paid by life insurance companies, not sure about now. However, there are strict rules/laws governing anyone that "guarantees" a product, they have restrictions on how they can invest the funds received from clients and well as having to maintain statutory reserves. As they are "restricted" in the amount they can invest in growth assets, as are companies that issue funeral bonds are nursing homes who invest accomodation bonds, market events like the GFC effect them a lot less. They are more likely to be effected by bond crashes like we had in 2001 (I think). FYI: From memory no life insurance company has gone bankrupt in Australia.
