The cover is much harder to claim if you’re unemployed, casual or part-time, because of the ‘activities of daily living’ test.
Set out below are all SuperGuide articles that relate to Insurance and super.
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People working casually, part-time or in ‘hazardous’ jobs may be paying for junk total and permanent disability insurance.
Despite concerns that life insurance premiums inside superannuation are set to rise as a result of new legislation making insurance opt-in for members under 25, inactive accounts and balances below $6,000, there is little sign of this happening.
Paying too much for Income Protection insurance inside your super fund can cost you dearly, eating into your retirement savings without necessarily improving your cover.
Many Australians are still stuck in insurance processing hell.
Total and permanent disablement (TPD) insurance pays a lump sum if you become permanently disabled and are unable to work again. It basically insures you against the risk that your ability to accumulate super (retirement income) is cut unexpectedly short.
This article addresses how income protection insurance works inside super, its effectiveness, key trends, claims and how you can establish the right cover for you.
In this article we will look at how life insurance inside super works, ideal cover, premiums, claims and taxes, and get the thoughts of an independent financial adviser on how life insurance in super can be effective for estate planning.
In this article we cover the major considerations for having personal insurance coverage inside your super fund. We’ll explore pros and cons, types of coverage, financial decisions, regulatory and industry findings, and suggest potential strategies that may suit you.