Not all strategies are about receiving an immediate financial benefit. In fact one of the most important strategies is to take out Insurance Cover to ensure that your family is protected in the event of an unforeseen event.

Use your SMSF to Eliminate Cashflow Issues

Importantly the usual cashflow burden of funding the premiums to protect your life for death, disabilty and income protection insurance can be covered by your SMSF meaning that you do not need to allocate any of your salary to meet the insurance payments. So you can continue enjoying the lifestyle you are today, knowing that your family is protected in the event something happens to you or your spouse.

Types of Insurance that can be paid by your SMSF

There are three types of insurance payments that can be made through your SMSF namely Life insurance, Disability Insurance and Income Protection Insurance. These are the most popular forms of insurance and will protect you against most unforeseen events that may occur in the future.  Further details can be found here.

The Cost is Less than you Think

The cost of insurance is usually less than you think. To find out the likely cost of each insurance type simply visit our Insurance Quote Calculator here.

Tax Deductible to your SMSF

As an added benefit Life, Disability and Income Protection Insurance Premiums paid by your SMSF are tax deductible providing an effective 15% reduction on the annual premium.

Do not forget to Insure your Spouse

And importantly do not forget to insure your spouse as should something happen to them, this will have a dramatic financial impact on your household finances.

More Information

For more information about insurance through a SMSF visit the Insurance section of our website here.

General Advice Warning

The contents of this website are of a general nature only and have not been prepared to take into account any particular investor's objectives, financial situation or particular needs. Where this publication refers to a particular financial product then you should obtain a Product Disclosure Statement (PDS) relating to that product and consider the PDS before making any decision about whether to acquire the product. We also recommend that you should seek professional advice from a financial adviser before making any decision to purchase any financial product referred to on this website. While the sources for the material are considered reliable, responsibility is not accepted for any inaccuracies, errors or omissions.