Self-Managed Superannuation Funds
Self-Managed Superannuation Funds (SMSF's) are an increasingly popular way of building wealth for retirement without the hassle and fees associated with for-profit funds. The individual fund member has more control over how they invest for their future, and there are a number of other benefits, including potential tax advantages when compared with other methods of wealth management. SMSFs may also hold insurance policies to further protect retirement income. These policies work in a similar way to insurance offered by retail funds, but they have more stringent rules for the policy provider to counter (a perceived) increase in risk and are analysed according to a range of factors from location to occupation. This is why, if you are considering or already have a self-managed superannuation fund, it is important to get the best advice on SMSF insurance Geelong has to offer.
MAC Financial can help you find the right SMSF life insurance for your needs and goalsAs with any life insurance policy, choosing the right coverage involves taking into account a number of factors, including age, occupation, dependents, lifestyle, and coverage or securities held elsewhere by each member. A professional Advisor at MAC Financial can lay out your options in plain English, including an explanation of the latest rules and legislation regarding SMSFs.Only about 13% of people with a SMSF have a related insurance policy, as opposed to over 80% of members in retail and industry super funds. Avoid being left out in the cold if something unexpected happens - make the smart choice to explore your SMSF life insurance options with a MAC professional today.
We can explain the rules for SMSF disability insuranceFor example, self-managed superannuation funds can only have Total and Permanent Disability policies that only cover the inability to perform any job; this is as opposed to retail funds, which can have policies that cover occupation-specific disability. Additionally, finding a policy that offers real coverage instead of just accident or temporary illness coverage may be tricky. An advisor from MAC Financial would be happy to talk you through SMSF disability insurance options for your current or planned fund.
Everybody deserves the right SMSF income insurance policyNo matter what job you have, what career path you're on, or how many dependents you have, you deserve the best possible coverage. An income insurance policy held by your self-managed superannuation fund is an extra level of protection to ensure that no matter what happens, you can maintain your lifestyle. You may even be able to insure up to 75% of your current income. There are complex tax obligations associated with this type of insurance, so if you are considering an SMSF income insurance policy, you need to talk to a qualified local advisor, and we would love to take your call.Let MAC Financial work with you to find the best cover for you and your budget.
How we can help?
MAC Financial offers advice and insight into financial and wealth planning, superannuation, insurance, investment portfolios, property and lending. We believe no matter what your situation in life you can always benefit from having your own dedicated financial team working for you.