Insurance is something we all have but most will never use.
When it comes to Life, Trauma, Temporary and Permit Disability (TPD) and Income Protection insurance it makes sense to obtain the maximum insurance at the cheapest price.
By having your Life, Trauma, TPD and Income Protection insurance within your super fund there are two benefits.
First, the premiums are deductable to the super fund, if you have a Self Managed Super Fund then this will help reduce the cost of the insurance to you. If you are in a retail super fund this allows the super fund to provide you with the cover at a cheaper price as they can pass the benefits of the deductibility of the premiums on to you.
Second, the super fund is able to obtain group rates from insurance companies again allowing you to obtain the cover at the best possible price. We all need to have Life, Trauma, TPD and Income Protection cover, but if you speak to your Financial Planner they can structure it so you have the maximum cover for the minimum price. With the extra benefit of having your superannuation pay for the cover instead of having to pay for it out of your take home pay.
Who said you have to wait to retire before you can access you superannuation, with the right advice your superannuation can benefit you right now.
For more information please call us on 4771 4577.