Insurance part I: Understanding insurance | Accurium

Technical article
Life is uncertain and insurance aims to reduce financial stress when things go wrong. This article discusses some of the important considerations SMSF members should consider when thinking about insurance. By taking out an insurance policy an individual transfers some financial risks to the insurer for a fee known as a premium. If an individual does not have insurance, or has insufficient insurance, they will bear the risk of meeting financial costs.

Disclaimer

This information is provided by Accurium Pty Limited ABN 13 009 492 219 (Accurium). It is factual information only and is not intended to be financial product advice, legal advice or tax advice, and should not be relied upon as such. The information is general in nature and may omit detail that could be significant to your particular circumstances. The information is provided in good faith and derived from sources believed to be accurate and current at the date of publication. While all care has been taken to ensure the information is correct at the time of publishing, superannuation and tax legislation can change from time to time and Accurium is not liable for any loss arising from reliance on this information, including reliance on information that is no longer current. We recommend that you seek appropriate professional advice before making any financial decisions.