Life Insurance Rollover

Life Insurance Rollover. Want to increase or change the existing life insurance cover you have inside your super? Find out which brands offer superannuation rollover.

Many Australians are now looking towards life insurance offered through their superannuation funds as an affordable option to provide life, TPD or income cover. Super funds work through different insurance companies to give members cover at an affordable rate and allow members to pay for their insurance through their super.

Is life insurance through super enough?

While it may be an affordable option, this default cover will not always provide an adequate level of insurance for the individuals needs leading many to seek an additional level of cover.

How do I still pay for cover through my super?

This is where a life insurance superannuation rollover can be used. Life insurance continues to be paid for with the complying super fund, but towards the policy you have switched to.

There are a number of insurers in Australia that now offer hassle-free rollover solutions with some offering a premium discount as an additional bonus. Keep reading to learn more about superannuation rollovers or enter your details in the form below to find a rollover solution with an insurance consultant.

So what is a superannuation rollover exactly?

A superannuation rollover is where a fund member transfers funds from a complying superannuation fund into a life insurance company’s superannuation life cover plan. The money that is invested into the new life fund can be used to pay for the premiums for Life, TPD and Income Protection cover.

Applicants that want to become members of the providers superannuation fund that are a member of a SMSF will generally have to apply to become risk-only members. Applicants will have to meet certain eligibility requirements under superannuation law and may need to submit medical evidence to insurer. Applicants will need to be approved by the new provider before cancelling the insurance held in their previous fund. Source: finder.com.au

Komentar

Postingan populer dari blog ini

Life Insurance Or Funeral Insurance

How Does Trauma Insurance Work

Tax Treatment Of Trauma Insurance