SMSFs need insuring… or do they?
Despite legislation being introduced late last year in an attempt to boost the life insurance quota of SMSFs, hundreds of thousands of Australians managing their own super continue to risk their retirement nest-egg. The legislation was introduced in response to the Cooper Review, which found that fewer than 13% of SMSFs had insurance. It required trustees of SMSFs to indicate that they’ve considered life insurance for members of the fund.
Clive Levinthal leaves ClearView
Clive Levinthal has left ClearView and accepted a chief executive officer position at Experien Insurance Services.
Under-insurance gap a kiwi problem too
New Zealanders are under-insured by about $650 million and face serious financial risk in the event an income earner dies or suffers serious illness.
The findings are part of a two-year research project commissioned by the Financial Services Council (FSC) and undertaken by Massey University which examined levels of cover for permanent disability, income protection, trauma and life cover.