Buying insurance through super

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Contributing to super can allow you to buy personal insurances such as life and total and
permanent disability cover through your fund.
The advantages of establishing personal insurances through super are that you can benefit from a
range of up-front tax concessions that are not generally available when insuring outside of super.
For example:
· Utilise salary sacrifice contributions to pay for insurance premiums with pre-tax dollars.
· If you are eligible to receive a Government co-contribution, you could use this to help you cover
the cost of insurance.
· If you are self-employed you can claim super contributions as a tax deduction whether you are
making them to purchase insurance or not.
These tax concessions can make it cheaper to insure through super, or enable you to purchase a
higher level of cover.
You can also have insurance premiums paid directly from your super balance, meaning no direct
impact to your personal cash flow(you do need to keep in mind that this option does mean you are
using up some of your retirement savings).


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