Holding Life Insurance In Super
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  Running Time: 7:35 Date: 01/04/2013 New rules require SMSF trustees to consider life insurance, and why not? It's something well worth considering. Under rules which came into effect at the start of this financial year, SMSF trustees are required to consider life insurance for fund members and to document that they've done so, as they have to do with the fund's investment plan. Michael Jones of Cummings Flavel McCormack says its a good thing to consider anyway, though personal circumstances may determine whether it's better to hold the insurance directly or within an SMSF. If it's within a fund, the insurance payout will improve the circumstances of the surviving fund member, and there may well be tax benefits too. Topics: Accounting & Tax, Investment, Legal |
 Michael Jones, Cummings Flavel McCormack |