How can you pay for personal insurance premiums?
When you take out a life insurance policy you pay a policy premium, usually monthly. If you want your superannuation fund to pay the premium, (this is one of our speciality services for our clients) it's usually paid annually and you may receive a month’s discount off the premium as a result (due to reduced administration costs). You can even Super-link some insurance policies (be sure to ask us about this) so that premiums are proportionally paid from your super fund and your personal funds for optimum tax efficiency.
The amount of the premium depends on several factors including how much coverage you want, how long you want it for, your biological gender, occupation, health and medical history. We can help you out with all of this so just be aware there are many options to discuss when you're ready.