Where the cover is held can make a big difference to the overall cost due to tax benefits. There can also be major impacts regarding tax liability and options when a claim is made.
Generally, it makes sense to hold life and permanent disablement cover in super due to a 15% tax benefit available and also personal cash flow benefits. Income protection is usually
Chris Hogan is Wealth Management Partner at Manser Tierney & Johnston (MTJ) Chartered Accountants (02 9487 2333) and an Authorised Representative of Lonsdale Financial Group Ltd, ABN 76 006 637 225, AFSL 246934. This information is of a general nature only and does not consider your personal objectives, financial situation or particular needs. This information should not be relied upon as a substitute for personal financial advice.