INCOME PROTECTION INSURANCE AUSTRALIAN SUPER FUND
An Australian super fund income protection policy helps you stay afloat in times of need. Families with school-going children or single-income homes are especially vulnerable to salary loss. Even a temporary gap in salary payouts can wreck carefully planned goals. Income Protection cover provides up to 75% of your regular salary for a certain period if you find yourself unable to work due to illness or injury. With this type of insurance cover, you can take care of most of your everyday expenses, including rent or mortgage repayments, bills, and even groceries.
INCOME PROTECTION INSURANCE  AUSTRALIAN SUPER FUND

SUPER FUND INCOME PROTECTION INSURANCE

Did you know you can get insurance cover for your salary as part of your superannuation fund? Protective insurance through your super is a great way to get the cover you might not otherwise be able to afford in a stand-alone policy. But you must be aware of the limitations of such an arrangement. Even though several factors guide insurance cover through the super account, it comes loaded with easy, assured benefits for your dependants. These insurance premiums are also often more affordable than stand-alone policies. In addition, you can choose the features you want to incorporate and the payout duration. By placing the choice in your hands, you control your super funds and future.

HOW DOES PROTECTION INSURANCE WORK?

Income protection insurance policies provide you with security when your financial situation takes an unexpected knock. With an Australian super account, you can continue to provide for your family when you need it the most. You must plan carefully today to protect yourself and your loved ones against salary loss or gaps between jobs.

By purchasing the income protection cover amount that you need, you prepare responsibly for your future and take the stress out of surviving the tough times. Gaps in income can be difficult so make sure you take the right policy on time.

A super account that covers income insurance provides up to 75% of your normal income for a certain period if you cannot work. With super funds that cater to this type of insurance, you can cover most of your everyday expenses, including rent or mortgage repayments, bills, and even groceries.


FAQs

DOES SUPERANNUATION COVER INCOME PROTECTION?

There are two ways that you can fund income protection insurance:

  • You can pay for the entire amount using your super balance, and you can generally use any super fund in Australia to pay for your income protection policy. This tactic avoids changes to cash flow needs as you only use super money.
  • The second way to fund income protection is to pay directly from your bank account or credit card. There are pros and cons to doing this, and the policies can vary between super-owned policies and policies funded outside of the super environment. We would strongly suggest giving us a call to discuss your options before deciding between the two.

WHAT IS AUSTRALIAN SUPER INCOME PROTECTION?

AustralianSuper, like all super funds in Australia, allows you to apply for a level of personal insurance cover within the fund. This benefit is generally “group insurance.” However, many people don’t know that you can take out an insurance policy through any retail insurance provider on our website and fund the premium from your existing super fund, for example, AustralianSuper. For more information, contact an insurer today on our website because you have the freedom to shop around for cover and consider alternatives without disturbing existing policies.

Choosing a policy
Income Protection can prove vital should your family's primary breadwinner fall seriously ill or become injured. To make sure you have the right policy to meet your individual needs, contact one of our Wealth Smart advisors. They can help you find the best Income Protection policy to get covered for job loss with their knowledge and expertise. If you're looking to incorporate an Income Protection policy into your super or want help to increase your current level of cover, contact us for professional, personal advice today!
OUR INSURERS
SEE MORE