SMSF Basics – Insurance in Self-Managed Super Funds (SMSFs) – for Life, TPD, Assets and Trustee Liability

Insurance in Self-Managed Super Funds

Insurance in Self-Managed Super Funds

It is good to keep in mind insurance when you have a self-managed super fund as it is not automatic like most major industry and retail funds offer by default. Get quotes for Life Insurance and Total and Permanent Disability (TPD) insurances – granted they will not be as cost-effective as the major funds charge (they have buying power for 1000’s of members). But shop around and see what is on offer.

James Frost, in The Australian, page 28, 11 Aug has other worthy considerations in ‘Self Super Insurance’ – He writes – “What it does: Provides a range of insurance products tailored to meet the needs of self-managed super funds. Underinsurance is a chronic problem in Australia and SMSFs are no different. Self Super Insurance offers a range of specialist insurance products for SMSFs, including trustee liability insurance, property insurance, life insurance and art and collectables insurance. Costs: The cost varies by product. Trustee liability and audit cover will cost about $170. The costs for collectables can vary depending on the value and also whether they are stored at home or in a more secure location, such as an art gallery or bank vault.”

Get our FREE Expert Guide – Self-Managed Super and You – it has all the info you need to know, with bonus TIPS and CHECKLISTS  to determine if SMSF is for you and what steps are needed to set up, as well as how to get your SMSF set up FREE . It also gives you ALL the Aust Tax Office publications about SMSF (NAT XXXX). Get you copy now – click “Download” top right hand side above. You’ll also get monthly SMSF news, investment teaching and upcoming seminar and workshop briefs! Download your FREE Guide now!

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Self-Managed Superannuation Service Providers in Australia. SuperBenefit will SET UP your SMSF and provide investment education for a better result. We take care of all your administration, accounting, ATO lodgement and audit of SMSFs, working with you and your advisors. If you want advice we can arrange one of our recommended advisors and accountants to meet with you, as we do not give advice, but take instruction only. Take control of your super, including property shares and other assets. Learn how to be your own advisor - make better decisions - by being mentored and coached to invest your own super wisely and strategically by qualified partners. Book to come to an event to find out more, or - Call us 0407 361 596, no obligation FREE strategy call.
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