Insurance scandals: how to get your SMSF cover right

SMSF holders don’t have to take out insurance – but consider these things long and hard first.

Summary: In the wake of insurance scandals you may want to revisit your level of cover – but think about the implications in detail before you jump. If it’s been a while since you took out your policy, make sure there are no health concerns or changes in circumstance that would prevent a new policy from being put into action. Always think about the implications of being uninsured – unless the death or disablement of a member of a super fund will have no material impact on dependants and family, you need to be covered.

Key take out: It’s impossible to reinstate a policy once it is cancelled, so ensure new cover is available before leaving a current policy.

Key beneficiaries: SMSF trustees and superannuation accountholders. Category: Superannuation.

{{content.question}}

Mastercard

{{ twilioFailed ? 'SMS Code Failed to Send…' : 'An SMS verification code has been sent ...' }}

Hi {{ user.FirstName }}

Looks like you have already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to complete your SMS verification

We cannot send you a code via SMS to {{user.DayPhone}}

If you didn't receive SMS code please

SMS code cannot be sent due to: {{ twilioStatus }}

Please select one of the options below:

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device


Verify your mobile number to proceed...

Please check your mobile number below and press the Send Verification Code button. This will be used to complete your verification in the next step.

Please sign up for full access

Mastercard

Updating information

Please wait ...

Trial

Mastercard
{{ productPrice }} / day
( GST included )
Price $0
GST $0
Discount -{{productDiscount}}
TOTAL {{productPrice}}
  • Mastercard
  • Visa

Please click on the ACTIVATE button to finalise your membership

Mastercard

The email address you entered is registered with InvestSMART.

Please login or select "Don't know password"

Please untick this box when using a public or shared device


Register as a new member

(using a different email)

Related Articles