1) Save on Insurance Premiums – in most cases, Superannuation funds get discounts on insurance products they buy in bulk and pass these savings onto their members.
2) Easy payment option – Having your insurance premiums paid out of your super funds means you don’t need to be concerned with when and how to make payments. It’s an easy option.
3) Financially Clever – Insurance policies within your superannuation mean you lower your income tax on insurance charges. Funds within your super account are taxed at 15%, which will be considerably less than your usual tax rate.