Hi
I am bit confused . Is it cost effective to pay for trauma tpd and income protection through super or outside of super.
I have been to zillion advisors and everybody is telling the truth only from their perspective … And am so confused… Tips appreciated
TPD outside of super is not tax deductible, whilst those maintained through your super fund are. IP either through your super or outside are both tax deductible.
The main advantage is that your super is done via pretax income.
What you need to do it compare the premiums that your super fund is offering against other companies (taking into account potential tax implications). If there is a large enough gap, then there may be potential savings to be made. Many superfunds are competative in regards to these kinds of insurance.