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Should you hold the insurance inside super?

The main advantage is control over who gets the insurance payout and tax benefits to help reduce the cost of the insurance.

  1. Have you currently got insurance in your super fund?
  2. Did you know that Insurance premiums in your super can reduce the costs of the insurance, but will also reduce your super balance and can cost you millions in lost super income?
  3. Are you prepared to make contributions to your super to cover the insurance premiums? Yes or No. If No, are you prepared to lose future income from your super benefits? Remember the insurance is to protect your income so you don’t want to lose your future income, paying for insurance now.