What insurance do you have inside your super?
Luke Smith joined Richard Perno on Radio Station 2CC Talking Canberra 1206AM.
The Money Show aired on Friday 12 April 2019.
Luke and Richard caught up on the topic of insurance inside of superannuation. Many superannuation funds offer insurance inside super, yet most people haven’t actually looked at what they have, what they need and what it all costs. If you have more than one superannuation fund then you could even be paying too much for insurance cover if they all offer default cover.
Key highlights include:
- Do all super funds offer insurance inside super?
- What kinds of insurance do you normally find inside super?
- Why trauma insurance isn’t a part of it, and what trauma insurance covers
- Key reasons to hold personal insurance inside super: Mortgage repayments, School fees, lifestyle and cashflow
- Why it’s essential to understand the definition of TPD insurance – is it ‘any occupation’ or ‘own occupation’ there’s a big difference!
- Why holding inside your super can be beneficial
- What is a super linking strategy and how it works to split costs while accessing better coverage.
- Keep an eye on your insurance as your situation and life changes to make sure it’s still relevant.
- An offer to trail the Envision Knowledge Centre at no cost. Click here to take up our free offer.
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Do you need personal financial planning advice?
If you need financial advice, make an appointment to meet Luke at Envision Financial Services on 6260 4749 or use our contact us form to make an appointment for a confidential discussion about your situation.
Envision 2CC offer: Your first appointment is at our cost. Make an appointment to confidentially discuss your financial situation and financial goals.
Luke will return to talk about financial planning on 2CC Talking Canberra next Friday from 4.30pm. Tune into listen live or visit our website again to catch up on the podcast. You can also check out our YouTube Channel at Envision Financial Canberra.