This week I want to look at the new requirement of a Self Managed Super Fund’s trustee’s to consider Insurance for its members when setting up a Self Managed Super Fund (SMSF).
As you may be aware, your current super with a industry fund or another super provider, will include a very small amount of life insurance and TPD, so when you roll out your super into another fund you will loose this benefit.
The New requirements now, have the trustee, when they set up a SMSF consider insurance and their members requirements for insurance within a SMSF.
As an advisor for setting up the SMSF I highly recommend to all my clients that they consider an amount of insurance within their SMSF. I also provide a free quote for the clients to see how little the cost can be to provide peace of mind to one another and the BEST part is that the SMSF funds pay for the cost of the insurance.
So I urge you that if you are considering setting up a SMSF, that you first make contact with myself to discuss your options along with considering taking out insurance within your new SMSF.
