Many people have insurance coverage inside their super that they don’t even know about.
Your super account may contain life insurance, but would it cover your mortgage in an insurance claim?
You could also have income protection or total and permanent disability (TPD) insurance within your super account. It pays to find out exactly what cover you have, before you need it, so you and your family are covered in a worst case scenario.
We can help you to assess any existing insurance cover that you might have with your superannuation, to determine how comprehensive it is.
This insurance assessment will also include recommendations regarding the best, cost-effective insurance to suit your needs.
If you need personal insurance, but currently can’t afford the premiums, we can look at options for obtaining cover inside your super, to reduce your out of pocket costs.
Premiums for insurance within super are usually competitively priced. If you choose to take insurance separate from your superannuation, you can often claim personal insurance premiums as a tax deduction.
Life insurance through your superannuation means that premiums are deducted from your super account balance, so the premiums are easier to manage, especially if you've got a home loan and a family.
The default insurance cover isn't arranged with your current financial commitments in mind, so it pays to check what you are covered for, and whether it's going to be enough.
With the right insurance in place, you'll have peace of mind that if anything does happen, you're protecting what's most important to you.