Hello there,
wondering what the are cons of having IP, TPD & Death within super. Below are something i've found by reading some of old forums here, pls add/advise...
For IP
General understanding is that within super most policy is for max 2 yrs only (super I am with have max benefit until 65 yrs age, also with own occupation)
Got mentioned that IP within super is not flexible then outside, don't understand this
For TPD & Death
Can't find any cons of having this in super, from the forums I've read seems most of them have this within super....may be it has to do with amount of higher cover like 1mil...is it?
Premium costs in super - what it will do to super balance over the years (this can be overcome by doing the salary sacrifice every year same as premium amount)
IP, death & TPD doesn't need to meet 'condition of release' ( or does it?) if within super....i mean as long as insurance company processes the claim..super should provide money for these insurances to beneficiary...
Having insurances through super is so cheap (stepped or levelled)...wonder why would so many consider this outside super...
I haven't seen trauma being offered by any super yet.....
cheers
wondering what the are cons of having IP, TPD & Death within super. Below are something i've found by reading some of old forums here, pls add/advise...
For IP
General understanding is that within super most policy is for max 2 yrs only (super I am with have max benefit until 65 yrs age, also with own occupation)
Got mentioned that IP within super is not flexible then outside, don't understand this
For TPD & Death
Can't find any cons of having this in super, from the forums I've read seems most of them have this within super....may be it has to do with amount of higher cover like 1mil...is it?
Premium costs in super - what it will do to super balance over the years (this can be overcome by doing the salary sacrifice every year same as premium amount)
IP, death & TPD doesn't need to meet 'condition of release' ( or does it?) if within super....i mean as long as insurance company processes the claim..super should provide money for these insurances to beneficiary...
Having insurances through super is so cheap (stepped or levelled)...wonder why would so many consider this outside super...
I haven't seen trauma being offered by any super yet.....
cheers