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Insurance within super

Type of insurances

Section: 10.2

10.2 Type of insurances

 Personal insurances available within the superannuation market:

Product Description
Term life (death cover) Term life insurance pays a lump sum to the policy older (or their beneficiaries) on the death of the life insured.
Total and Permanent disablement (TPD) TPD insurance pays a lump sum to the life insured if they suffer a total and permanent disablement and are unable to work again.
Income protection (or salary continuance) Income protection insurance pays an income stream benefit if the insured, upon suffering  a disabling event, is unable to continue generating income.

This technical resource is intended for the use of financial advisers only. It is current as at the date of publication but may be subject to change. This publication has been prepared without taking into account a potential investor's objectives, financial situation, needs or objectives. Before making a recommendation based on this material, you should consider its appropriateness based on the client's objectives, financial situation and needs. Rainmaker Group is not a registered tax agent under the Tax Agent Services Act 2009. Your client should refer to a registered tax agent before relying on information published herein that may impact their tax obligations, liabilities or entitlements.

Last modified: Friday, June 23, 2023