What are the benefits of having insurance in my SMSF?

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Many people have their life and disability insurance through their SMSF because:

• the premiums are tax deductible to the fund when the policy is in super
• you may be eligible to claim a personal tax deduction for contributions to super which are used to fund the premiums
• if the policy is in your SMSF, any payout will go to the SMSF rather than directly to you or your estate or beneficiaries, allowing some additional tax planning
• you no longer have to come up with the money yourself to pay the insurance premiums as these are now being paid for by your SMSF.