Recent changes to superannuation regulations now require SMSF trustees to consider the life insurance requirements of its members as part of the SMSF investment strategy. This may require the trustees to purchase insurance policies for it’s members.
Starting a SMSF – Should I set up a SMSF?
The answer is yes, but restrictions apply. There are a number of traps that SMSF’s can fall into if collectables in an SMSF are not handled properly. The use of a SMSF to purchase collectables has always attracted more scrutiny from regulators. We discuss how it can be done!
Both Trauma Insurance and SMSF’s have grown in popularity in the last decade. With insurance available in SMSF’s many trustees have sought to take Trauma Insruance in their SMSF. There are a number of considerations that need to be considered including the sole purpose test. We discuss the advantages and disadvantages of Trauma Insurance in SMSFs.