Life Insurance within SMSF
With NobleOak, you can apply for comprehensive Life Insurance Cover within your SMSF.
NobleOak’s Life cover can be taken out within an SMSF
Up to $25 million cover, paid as a lump sum
Upon the SMSF member’s death, NobleOak will pay the agreed cover amount as a lump sum to the trustee of the SMSF.
Pay your premiums with your super contributions
Insurance premiums are paid from superannuation contributions, which are typically tax deductible. Check with your accountant.
How much cover can I apply for?
SMSF trustees can apply for up to $25,000,000 in cover for the members of their fund.
Maximum Cover Level
$25,000,000
Maximum Entry Age
74 years old
Guaranteed Renewable Age
99 years old
Terminal Illness Benefit
Yes
What does our SMSF Life Insurance cover provide?
Cover Types
NobleOak offers Life Cover, TPD (any occupation) and Disability Income insurance through superannuation.
Premiums
Your insurance premiums are paid using superannuation contributions, which are often tax-deductible. Check with your accountant.
Tax on benefits
Following a claim, Life cover benefits paid by the SMSF to a financially dependant beneficiary are generally tax-free. Benefits paid to non-financially dependant beneficiaries typically attract tax.
Retirement savings
Insurance premiums paid reduce your retirement savings, so you may want to make additional super contributions.
Cover Types
NobleOak offers a full range of covers, including Life Cover, TPD, Trauma Insurance and Income Protection Insurance.
Premiums
You pay your insurance premiums from your after-tax income.
Tax on benefits
Benefits paid are generally tax-free when paid to your nominated beneficiaries.
Retirement savings
Your retirement savings are not effected by your insurance premiums.
Policies, terms and conditions vary between Insurance Providers, so it’s always advised to read the Product Disclosure Statement (PDS) and compare covers before you apply for Life Insurance. Because superannuation is a complex area which changes from time to time, and each person’s tax situation is specific, we suggest you obtain tax or accounting advice when considering your taxation affairs in the superannuation context.
4 Reasons to choose NobleOak
Low insurance premiums
Fully underwritten insurance
Simple & straightforward policies
Award winning life cover
Tools and guides
Find out how much Life Insurance and Income Protection cover you may need.
Help protect your family with NobleOak, Australia's most awarded Direct Life Insurer 2022
