How to make more time
for enjoying life with your kids
Of Industry Super Fund members are under insured by $100,000 for life insurance37
Of Industry Super Fund members believe life insurance is a low priority given other financial commitments.74
Of Industry Super Fund members are underinsured by $100,000 for TPD83
Of Australians say they have insurance for their car, only 31% have income protection.
Nearly all of us have some level of cover as part of our super so it's worth checking with your super fund(s) to see what cover you have in place.
The level of cover automatically provided to super fund members is set at a minimum level and is unlikely to be exactly what you and your family need.
It may be quite easy to adjust your level of cover so that it is more appropriate for your needs. To do this you will need to contact your super fund directly.
If you have more than one super fund and have Life Insurance, Total and Permanent Disability Insurance or Income Protection Insurance with each of them, it might be worth thinking about consolidating the funds into one. It's worth looking at the investment performance of the fund, the fees charged and of course the level and type of insurance benefits you have available before making any decision about which super fund to consolidate the other funds in to. You may wish to seek professional financial advice to help you with this decision.
Benefits of life insurance through super:
Things to be aware of regarding life insurance through super:
Top tips for contacting your super fund:
1. Find out which fund your have your superannuation with.
2. The level of cover you currently have is likely to be detailed on your annual statement.
3. Call them to confirm the cover you have and whether or not they can increase your level of cover.
4. Ask them what types of insurance they can give you access to and find out what their rules are on claims payouts to beneficiaries and the tax treatment for those payouts.
5. Remember, any decision to consolidate your funds should be made by considering a range of factors including investment performance, fees and the insurance cover.
Great News! The Lifewise campaign has been selected as a finalist for best use of social media in th…
Get inspired with our Life Insurance Calculator and find out how much you really need for the best cover.Read more
It's true what they say; Money can't buy love but you can get the best life insurance tips & advice here.Read more
Cute? Adorable? Irresistable? Take a look at the latest entries, vote on your favourites and submit your own to win!Read more
Life insurance may be one of the most important purchases you'll ever make. In the event of a tragedy, insurance helps.Read more