Each SMSF fund member is insured separately, which means you don’t need to have a group or all fund members insured to access group insurance rates.
With SMSF Insurance each person (or member of the SMSF) is considered separately for the purpose of insurance, so you can’t add multiple people to one quote or application. Each person will have a seperate policy, so to get a quote or apply, each person will need to be entered in to the online system separately.
Group rates apply to everyone insured under the SMSF Master Trust, and premium rates are not depended on the number of people in the fund holding insurance.
So you don’t need to worry that having seperate policies for each individual will affect the premium rate that is offered.
The policy will be held by the trustees in the name of the SMSF fund, with the insured individual listed as the risk insured.
As each policy is seperate, and changes to circumstances or claims for one individual do not affect any other fund members policies.
Quotes for SMS Life Insurance are instant, and you can buy SMSF Life cover securely online.
