Insurance Inside Superannuation

Insurance Inside Superannuation

Important Information

Not all providers in the market are included in the comparison.

Any information or advice contained on this website is general in nature and has been prepared without taking into account your objectives, financial situation or needs.

At Rate Detective we have helped hundreds of customers secure insurance through their superannuation using one of the 12 retail insurance companies on our panel.

Taking out a retail insurance product through a super fund can also have a number of product benefits not always found in traditional group polices that have historically been provided by your super fund including:

  • Day 1 Accident for income protection
  • Age 65 benefit period for income protection

    (often 2 years max within group insurance)

  • Claims indexation
  • Guaranteed renewability past age 65
  • Level premiums
  • Medically underwritten at time of application

    (not time of claim)

Generally speaking, Life Insurance, Income Protection and Total and Permanent Disability insurance can easily be put through most superannuation funds, including a self-managed super fund. The reason why these products are popular through superannuation is it is not too difficult for the conditions of release to be satisfied so that the funds can be available to the beneficiaries of the policy if you need to claim. Many clients find it appealing to have their insurance inside superannuation because having their super fund pay for insurance helps with cash flow.

Insurance within superannuation has traditionally been done through group cover (prices offered by your superannuation fund). However, recent legislation has made it common for retail funds, such as the insurance companies on Rate Detective’s panel, to be able to offer cover within superannuation as well. With group prices increasing significantly in recent times, the retail insurance companies are also now price competitive.

If you are interested in receiving a quote for Insurance inside superannuation then please fill in your details in the fields provided on this page and we will be in touch within 1 business day to discuss your needs. Alternatively call 1300 793 143 and ask to speak to one of our staff about this option.