life insurance inside super

Other Topics

Review Life Insurance from Rest Superannuation Fund

Employees working at retail stores like Coles, Woolworths and McDonald’s most likely have their super fund with REST. If this is you, chances are you’re paying for automatically included life insurance. REST super insurance provides default insurance cover for members over the age of 18, and generally includes death, total and permanent disablement and income protection. Members of the Retail Employees Superannuation Trust (REST) must actively opt-out of the insurance provided if they do not want REST life insurance or prefer to take out cover elsewhere.

Insurance Inside Superannuation

Most Australians have some life insurance and TPD through their superannuation, because it is automatically added.

Life Insurance for SMSF

When setting up your Self-Managed Super Fund, you are the trustee and thus responsible for everything that happens within the fund. You are legally required to show how you considered life insurance coverage for the fund’s members. You must have documented proof demonstrating what your decision was based on and how it suits the members’ requirements.

Sunsuper Life and Income Protection Insurance Review

If your employer’s choice of a superannuation fund is Sunsuper, you likely already have some life insurance and TPD cover automatically included. However, as a working professional you might be wondering if you have enough protection should you be unable to work due to illness or accident and if your family will be financially supported if you pass away.

An Investigation of AustralianSuper’s Life Insurance Cover

If your super fund is with AustralianSuper and you want to review your automatically included life and TPD coverage, or you’re contemplating joining this supperanuation and wondering whether you should opt-out of the insurance coverage they provide and instead get protection elsewhere, then keep reading.

Reviewing Hostplus Life Insurance

Insurance through your superannuation might be a good idea if you want to avoid exclusions and premium loadings. However, if you’re young and healthy, you can generally get a fully underwritten policy that’s tailored to your unique requirements for much cheaper. There are also some tax implications and cover restrictions when choosing to take out insurance through your super fund.

Should I Have Income Protection Through Super: The Pros and Cons

Imagine facing a sudden illness or injury and losing your income overnight. The crucial decision of whether to have income protection inside or outside super can make all the difference. Inside super, your premiums may be more affordable, but outside super, you could secure more comprehensive coverage. Your peace of mind and financial future hinge on making the right choice.