When an individual buys life cover through their superannuation fund it is cheaper and more tax effective than purchasing it in their own name.
With many changes in super, it has certainly come a lot more popular for consumers to purchase their life insurance through their super fund.
Here at Rate Detective we have taken the time out to look at the benefits and disadvantages of doing so.
The major benefits we see here for taking life cover under your superannuation are:
The major disadvantages are:
We highly recommend when deciding what life insurance is best for your personal needs, that you speak to a licensed financial planner. If you don't have one, we can organise a free no obligation financial review and help find a financial advisor in your area who can suit your needs. Just contact us about your life cover.