Life insurance via super on the rise
Life insurance held via superannuation is on the rise as investment earnings drop, according to recent Aviva Australia data.
Lump sum protection policies linked to the Aviva platform represented 14.8 per cent of new business for the year ended May 2009, up from just 3 per cent in 2007.
This is a significant jump in just two years and a trend that is expected to continue, said Aviva national distribution development manager Russell Hannah.
“Clients have become savvier about how they stay protected in times of economic uncertainty and this trend is supported by our figures,” Hannah said.
Life insurance through super also maximises tax efficiencies and the impact of premiums on disposable income, Hannah added.
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