Changing Insurance Terms & Definitions

unsure on insurance

Life insurance in super

It is likely that you know whether you have life insurance through your super fund, and you may even know the amount and the premiums you are paying for the cover. It is highly unlikely though that you have read the latest Product Disclosure Statement and understand the terms and definitions used in ascertaining whether anything will be paid out. More importantly is that with ‘Group Insurance’ these terms and definitions can change.  (more…)

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Insurance In Super?

not-so-super-deal

Most superannuation funds offer life insurance

In fact if you join your employer’s default super fund it is compulsory for a level of life insurance to be provided. Very conveniently for the insurers and super funds, the obligation is for the fund member to ‘opt-out’ if they don’t want the insurance; that is, if you don’t explicitly refuse the cover, you pay for it. That’s why it’s important you read the following…. (more…)

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Government Tax and Superannuation Update

Save Tax

On Wednesday 6 November 2013, the Treasurer, the Hon Joe Hockey MP, and the Assistant Treasurer, Senator the Hon Arthur Sinodinos AO, announced the Government’s decision to abandon some of the previous Government’s tax and superannuation proposals. The announcement also indicated which of the former Government’s unlegislated proposals the new Coalition Government would proceed with. (more…)

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10 Reasons Why You Should Love Super

Superannuation immage

Australia has a great superannuation system. In fact it is arguably the best in the world. Unfortunately many Australians do not know how good it is, so this article is going to highlight some of the benefits.

The very first thing to understand is that superannuation is not an investment. It is much more appropriate to think of superannuation simply a tax shelter or a trust structure. And as such anyone who states that “super is a bad investment” is misguided and should instead be saying “what I invested my super in was a bad investment”. (more…)

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