- If you want to receive any money from your super fund because of a temporary incapacity, your fund needs income protection insurance.
- For permanent incapacity benefits, you have to be suffering from mental or physical ill heath that will prevent you from ever working again in a job which involves your level of education, training and experience.
- Death insurance policy claim proceeds are paid into the super fund as capital and are not taxed.
One of our readers asked some good practical issues about insurances inside your SMSF which I think you’ll find interesting. Here is their question
I have a SMSF and my husband and I are beneficiaries. We are both 56 years old. We currently have group life cover in the fund but not TPD. We were wondering: