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LIFE INSURANCE UNDER SUPER FUNDS
What is Term Life Insurance?
This type of Insurance is the most popular and economical form of Life cover that you can choose.
It provides a cash lump sum to your loved ones in the event of death or the diagnosis of a terminal illness.
Why do you need Term Life Insurance?
Obviously this depends on your personal circumstances and everyone is different. Most people need to protect the financial security and well being of their family and dependants, particularly at the time when it is most needed.
Life Insurance pays a lump sum which can be used to:
- Pay off the mortgage and any other debts which may affect your family’s financial future
- Pay for childcare or home help to aid the remaining partner
- Maintain day to day living expenses, including health costs & school fees
- Provide investment income should the remaining partner be unable to or choose not to work or to work part time
Can a Self Managed Superannuation Fund (SMSF) purchase Life Insurance for its members?
Yes. Trustees frequently purchase Life, Disability & Income Protection Insurance for members within their SMSF. There are significant tax advantages by doing this and Family Care Australia provide a FREE quotation service specifically for this purpose. If you do not have a Self Managed Super Fund we can still arrange your Life Disability or Income Protection Cover under a separate superannuation fund. This can also include tax advantages and assist with funding premium payments in difficult times. For more details call us toll free on 1800 808 027.
Get a FREE Quote for Term Life Insurance
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