If you have your own SMSF (whether administered by ESUPERFUND or not) you are permitted to use the funds in your SMSF to pay for the following types of Insurance:
- Life Insurance; and / or
- Total & Permanent Disability Insurance
The Insurance Application Process is detailed in a Step by Step Guide below. Importantly you do not need to be a client of ESUPERFUND to use our Online Insurance Service.
Step 1 - The Macquarie FutureWise Product
If you want to apply for Life Insurance and/or Total & Permanent Disability Insurance through your SMSF, you can apply using the Macquarie Life FutureWise Insurance Product. Before making an Insurance Application you must read the FutureWise Insurance Product Disclosure Statement that can be found here. If you would like any of the other insurance options available through FutureWise, as outlined in the PDS, you should speak to a licensed financial adviser.
Step 2 - Obtain an Online Insurance Premium Quote
To ensure you know what Insurance Premiums are payable by your SMSF, you can access our Online Insurance Premium Quote Calculator. To obtain an Online Insurance Premium Quote for either Life Insurance and / or Total & Permanent Disability Insurance, visit the Insurance Quote section of our website here.
Step 3 - Submit an Online Application for Insurance to Macquarie Life
When satisfied you are ready to make an application for Life Insurance and / or Total & Permanent Disability Insurance through your SMSF, you can submit an Online Insurance Application directly to Macquarie Life, by visiting the Apply Now section of the Insurance section of our website.
Step 4 - Macquarie will contact you directly
When you submit an application for Life Insurance and/or Total & Permanent Disability Insurance online, the application will be received by Macquarie Life directly. Once received Macquarie Life will contact you and ask you a series of questions about your Insurance Application. Please note that you should set aside a minimum of 20 minutes for Macquarie to call you about your Insurance Application.
Step 5 - Macquarie will assess the Application
Macquarie Life will in turn assess your Insurance Application, once they have collected all the required information from you. In some cases based on your personal circumstances, Insurance cover may be declined or subject to premium loadings or exclusions. Whatever the outcome, Macquarie Life will notify you directly of the outcome of your Online Insurance Application.
Step 6 - Requirement for Medicals
Depending on the amount of cover you require, your age and current health, you may be required to undertake a medical examination when you apply for Life Insurance and / or Total & Permanent Disability Insurance through your SMSF. Macquarie Life will advise you whether a medical examination is required and the associated costs are borne directly by Macquarie Life.
Step 7 - Queries about your Insurance Application
Importantly if you have any questions about your Insurance Application please contact Macquarie Life directly at insurancepartners@macquarie.com. Please do not contact ESUPERFUND directly in relation to queries about your SMSF Insurance Application as unfortunately we will be unable to assist you with your queries.
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.