Melbourne-based life insurance broker Family Care Australia has entered into an alliance with MetLife Insurance to offer self-managed superannuation fund members (SMSF) “discounted insurance under a wholesale group method”.
FCA director Peter Scullin said the Family Care Protection Plan (FCPP) was the first insurance product to offer discounted term life, disability and income protection to SMSF members.
“Unlike members of large employer or industry funds, members could previously buy only expensive time-consuming insurance products when arranging cover under their own fund,” he said.
“Our product allows SMSF members to enjoy the same insurance benefits as members of the large employer and industry super funds.”
“SMSF members have the advantages of lower premiums, simplified underwriting and — because they can arrange cover direct from the FCA website — far less paperwork.”
