Understanding life insurance within super

Home > Financial Focus

Around 70% of Life Insurance policies in Australians are held inside superannuation. So, there’s a good chance you already have some level of life insurance, even if you didn’t know it?

There are some benefits to having and paying for your insurance within your superannuation. It can often be cheaper as super funds can purchase insurance policies in bulk. By having premiums deducted from your super account you won’t be dipping into your personal take home pay.

However, paying for insurance via your super could decrease your super balance if your premium is not being offset by contributions or investment growth. There may also be tax implication if you make a claim? It’s also very important to be aware that life insurance provided by super funds is usually bought on a group basis, and often a set amount based on your age, with many policies having cover that decreases each year as you get older.

We believe tailored insurance cover based on your personal needs and situation is vital to ensure you and you your loved ones are adequately protected. The last thing you want is to make a claim, only to discover you aren’t covered for everything you hoped you might be.


"Self-employed people often earn a decent income while working. However, without the benefit of employer-paid superannuation contributions often have little money to live on in retirement. Don’t rely on selling..."

Don’t neglect retirement savings
See More Testimonials

Meet the Team at Momentum

Team Profiles

Newbrocom Pty Ltd (ABN 39 152 026 330) trading as Momentum Financial Planning is an authorised representative of Charter Financial Planning Limited, Australian Financial Services Licensee Licence number 234665.



Momentum Financial Planning is one of a select number of businesses that has been awarded Certified Quality Advice Practice status by Charter Financial Planning. This programme sets an industry benchmark for providing high-quality financial advice. The certification is awarded based on industry qualifications, demonstrated best practise business operations and proven success in meeting the financial planning needs of clients.

© Momentum Financial Planning 2010 - 2019 All Rights Reserved :: Website by Giant Media :: ADMIN