Life Insurance through Self-Managed Super

Life Insurance through Self-Managed SuperAn advantage of Life Insurance (and Total & Permanent Disability – TPD Insurance) being paid by your super fund – commercial employer or Self-Managed Super Fund, is not only saving having to pay the premiums from your take-home pay, but also that it has tax advantages in another entity – it is tax deductible against income earnings of the super fund. They are also deductible outside of super. Consider that you are protecting yourself but also the future security of your family as well. Generally the most cost-effective way to have Life & TPD is within your super fund.  Life (also known as Term Life Insurance) and TPD do not have GST as they are financial products (neither does Income Protection insurance – see HERE).

Life Insurance ensures that if you die, or become total or permanently disabled and cannot work (medical verification will be required), your family receives a payout sum (as agreed at the start). There are different plans available, so check the fine detail and consult an expert or independent advisor who can quickly sort out the products that suit your circumstances. There are Term Life, which is the most common and Whole of Life which usually has an investment element involved but is less common these days.

Determine the level of cover you need – family needs, mortgage and debts, household financial commitments, future education costs, etc. Consider what is best for your spouse and family when you go – the ideal would be no mortgage and money to pay the big commitments, because with one adult and a young family, the remaining adult may not be able to work.

Why not get a quote and know your options? It is FREE and there are no obligations, you will be able to compare several offers and the premium prices. Call us and we can refer you to independent brokers in our trusted network who would be happy to assist you. Call today and be prepared! Ph 0407 361 596.

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About SuperBenefitnews

Self-Managed Superannuation Service Providers in Australia. WE do not provide Financial Advice or any other service that requires a legally authorized provider. However, where such advice or service is required we have our ‘Connect Assist’, a SuperBenefit resource we use to connect clients to a Licensed Advisor or other legally authorised service provider. SuperBenefit provides a wholistic SMSF assistance, education and administration service continuum - 1. “assistance” is help of whatsoever nature where our overall SMSF experience and knowledge enables us to provide assistance/help without any legal (or “license”) limitations. 2. “education” involves providing knowledge through teaching, coaching and mentoring about all matters SMSF, including (but not limited to) investment issues such as equities and property, 3. “administration” encompasses all admin aspects of legally required SMSF trustee and member record keeping including (but not limited to) audit and ATO matters. In keeping with our key point that SuperBenefit does not provide Financial Advice, where issues arise from 1, 2, and/or 3 above Indicate a need for a legally authorized provider (such as a Financial Adviser) and the client does not have their own service provider, the client can utilize SuperBenefit’s ‘Connect Assist’ … SuperBenefit, in itself, does not provide Financial Advice, but it does provide the wherewithal for great SMSF service. Call us 0407 361 596, no obligation FREE Connection call to see how we can help you!
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One Response to Life Insurance through Self-Managed Super

  1. Valuable blog article, it was quite interesting nice work. I want to thank you for this informative read, I really appreciate sharing your post. This is my great pleasure to visit your website and to enjoy your excellent post here.

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