Life Insurance Through Super
Learn how your life insurance can be purchased and paid through a super fund.
Learn more about Life Insurance Through My Super
What is ‘insurance through super’?
Most superannuation funds offer life insurance through super. It provides you with an alternative way of paying for your life insurance, with the premiums automatically deducted from your super account, as long as you have sufficient funds available.
For many people, there is a range of benefits when your insurance is held through super, including tax rebates, cash flow and simplicity. However, there are limitations in taking out life insurance this way that may impact your situation.
There can be restrictions on the type of cover you can take out through your super fund, so it is important that you read the relevant Product Disclosure Statement carefully before signing up.
At Lifebroker, we can help you to compare a range of life insurance options, including life insurance through super from some of our insurance providers. For more information, give our friendly consultants a call on 13 54 33.
What are Superlink payments?
Superlink payments allow you to pay for your insurance premiums partly through your super fund, with the remainder paid by you directly to the provider.
When you take out life insurance or income protection entirely through your super fund, there are limitations on the type of cover you can get. By using a Superlink payment structure you open up several cover opportunities that would otherwise not be available to you in super.
For many people, Superlink payments are a good balance between the cash flow benefits of insurance through super and the flexibility of purchasing directly through a provider.
The differences in coverage and claiming options vary greatly between super funds, so it’s important that you read the relevant Product Disclosure Statement carefully before making a decision on the right cover for you.
To find out more about Superlink, give our friendly consultants a call on 13 54 33