Chapter 8: Insurance in your SMSF
Personal insurance can form one of the most important aspects of your overall financial plan. It can protect one of your greatest assets — your ability to earn an income — and prevent you from having to draw on your accumulated savings if an unfortunate event occurs.
If you decide it’s appropriate to hold insurance inside the super environment, your SMSF will give you the most flexibility to obtain the cover you need.
Types of personal insurance you should consider
There are numerous types of personal insurance cover you can hold. The four main types that can be held within your self managed fund are:
• total and permanent disability (TPD)
• income protection
Life insurance provides cover ...