Life and disability insurance - questions and answers
Should you get your life insurance within your superannuation fund?
Many superannuation funds will provide you with the option of purchasing insurance through the fund. You can potentially benefit from tax deductions and cheaper costs when you hold insurance within a superannuation fund.
There is, however, often a wider choice of insurance cover available outside of your superannuation fund.
Understanding insurance definitions
It’s important to understand your cover as it may help you avoid any complications if you or your estate need to make a claim. You should read and understand the product disclosure statement along with the entire policy document. If there’s something you are unsure about, ask your financial adviser to clarify it for you.
How much cover do you need and what type?
You should ensure your cover is adequate and that you are not over, or under, insured. The kind of life insurance that you need depends on a number of factors such as your:
personal financial circumstances.
Your financial adviser can help you select the most appropriate life insurance option and provider, and can review your insurance cover regularly to make sure it remains appropriate to your ongoing needs.
Financial Affairs on 03 9520 2999 or email firstname.lastname@example.org
The information on this page is general in nature and does not constitute advice. You should obtain and consider our Financial Services Guide (FSG), relevant Product Disclosure Statement (PDS) and Statement of Advice (SOA) before making any decision to acquire a product.