Exelsuper's Specialist Insurance Advisers are some of the most experienced and respected professionals in the insurance industry. Delivering optimum outcomes that protect you and your family is our objective.
Our mission is to do this by minimizing costs, and eliminating un-necessary cover components, whilst delivering an insurance portfolio that delivers piece of mind should something unforeseen occur.
Insuring your car, home or other possessions makes sense. So why do so few of us insure ourselves? If illness or injury stopped you from working for an extended period, could you keep paying your bills? Personal risk insurance provides peace of mind that if the unexpected occurs, you and those who depend on you will be provided for.
What is personal risk insurance?
Personal risk insurance is an important way of ensuring you and your dependents will be financially supported in the event of serious illness, disability or death.
If your ability to earn an income is affected, a personal risk insurance policy may enable you to maintain your current lifestyle and continue supporting those who depend on you.
Do you need insurance?
While we may recognise the emotional impact of events such as serious illness or death, the financial consequences can be equally devastating.
If the unexpected did occur, having personal risk insurance would mean your basic living expenses such as your mortgage, groceries, petrol or school fees could still be paid.
Depending on the event, you may also need to cover significant medical expenses, rehabilitation, and modifications to your home or services to help maintain your lifestyle.
Insuring through superannuation
Acquiring life insurance through your superannuation fund can provide some tax concessions, which are not generally available for life insurance policies held 'out side super'. In addition, the same tax concessions that apply when investing in super also apply when purchasing insurance through a superannuation fund.
You may be entitled to claim a tax deduction for personal contributions made to superannuation. In addition, salary sacrifice contributions to super can be used to fund your insurance premiums. Using either of these methods means you will effectively pay your insurance premiums from pre – tax income.
This could make it significantly cheaper (on an after tax basis) for you to insure through superannuation.
