Powered by MOMENTUM MEDIA
subscribe to our newsletter
Dealer group launches new insurance offering

Dealer group launches new insurance offering

Reporter
03 March 2016 — 1 minute read

One non-aligned dealer group has partnered with AIA Australia and specialist group insurance administrator AGI to offer an insurance service for SMSFs.

MyPlanner Australia’s managing director, Philippa Sheehan, said the deal comes off the back of the groups realising the need for a group insurance offering for SMSFs, which will make it easier for trustees and accountants to organise the cover they need.

Having approached a "number of insurance players" across the market, Ms Sheehan said the group had partnered with AIA Australia and AGI for the use of the SMSF Master Insurance Plan, which the two companies launched in 2011.

"As much as trustees think they will organise their own insurance, we have seen plenty of SMSFs across the MyPlanner network where the trustees never finalised the insurance," Ms Sheehan said.

"This has been of huge concern. AIA Australia's solution helps solve some of the underinsurance issues we have here in Australia.

“Partnering with AIA Australia and AGI to offer something for our entire industry has been a fantastic experience. It goes to show that if you have a need, you just need to find the right people to help you fulfil it,” she added.

According to MyPlanner, the SMSF group insurance plan will consist of a nine-question underwriting process for most applicants and will cover death and total and permanent disability.

There will also be income protection options and the ability to transfer existing cover, MyPlanner said.

Read more:

Tax ruling change could have 'adverse' impact on LRBAs

ATO drills in looming deadline

Class hits new milestone with SMSF portfolios

 

Dealer group launches new insurance offering
smsfadviser logo
join the discussion

Do you think the government should reinstate the accountants’ exemption for SMSF advice?

SUBSCRIBE TO THE
SMSF ADVISER BULLETIN

Get the latest news and opinions delivered to your inbox each morning

In this month's issue:

  • Time wrap
  • The tech bull run
  • From hobby to passion
  • Golden Years
  • An untimely reminder
  • Why change is so difficult
  • Key Strategies for equalising super