Why should I consider arranging Life Insurance through my SMSF?
There are potential benefits of buying Life Insurance through your SMSF.
For example, you can pay your premiums from the fund instead of out of your own pocket.
Your SMSF may be able to claim a tax deduction on the premiums which reduces tax paid on capital gains, investment earnings and other taxable contributions received.
NobleOak Premium Life Direct offers high levels of cover. You can apply for up to $15 million cover of Life Cover and up to $5 million of Total and Permanent Disability (TPD) cover, without having to go through a financial adviser.
In addition, NobleOak provides the unique flexibility to move your insurance out of SMSF without cancelling your plan.
This could be beneficial if your health deteriorates, your SMSF members’ requirements changes, or you no longer want to pay premiums out of your SMSF funds.