Recent research from Rice Warner Actuaries has found that only 13% of Self Managed Super Funds (SMSF) provide insurance cover.
We’ve discussed the underinsurance problems in Australia previously and this new research estimates that there are 300,000 SMSF members who need life insurance coverage, yet do not have it.
The level of default cover attached to superannuation can often be obtained without evidence of health and medical reports. When you leave a superannuation fund provided by your employer, the associated life insurance cover ceases.
Establishing the right individual cover can be complex and time consuming.
The Future Assist Insurance team is here to ensure that everyone with SMSF have the right level of life and other personal insurance coverage. If you are unsure if you have the right level of cover call the team today on 1300 118 618 for an insurance check-up.
