February 2017

Trustees of SMSFs are required to regularly review their investment strategy and to consider insurance for the members as part of that review.

Up until 1 July 2014 any type of life insurance could be held through superannuation, however from this date SIS regulation 4.07d will prevent trustees from offering insurance where the insured event doesn’t align with the conditions of release. In effect, this means that new ‘own’ occupation TPD cover, trauma insurance and some types of income protection will no longer be able to be taken out within superannuation.

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