MLC has recently announced a number of upgrades and enhancements to their life and income protection insurance products. With five attractive new features including a 12 month life insurance buy back option, these improvements are seen as the fulfilment of a commitment by MLC in October 2011 to regularly upgrade their offers. The new enhancements…
When it comes to income protection insurance, many people assume that the income protection provided by their super fund will be sufficient and they don’t need to take out an additional policy. Although industry super funds such as C Bus Super do offer income protection as part of their super, it is a good idea…
Self-managed super funds (SMSFs) give people more control over their superannuation, and they can also hold personal insurance policies such as life insurance, total and permanent disability (TPD) insurance, and income protection insurance. There may be several advantages of purchasing life insurance through your SMSF, but there are also some drawbacks you may not have…
July 1, 2011 saw a change in the rules surrounding tax deductions for total and permanent disablement (TPD) insurance policies owned by a super fund. The changes ushered in by the Australian Taxation Office mean TPD premiums that come under the definition of “own occupation” are only partially tax deductible. Premiums that relate to the…