SMSF Insurance

IOOF SMSF Insurance

Lump sum death and Total and Permanent Disablement (TPD) insurance cover via IOOF SMSF Insurance may be a suitable life insurance choice for Self-managed Superannuation Funds (SMSF) trustees and members.

In light of Stronger Super regulatory changes in August 2012, SMSF trustees must regularly review the investment strategy of their fund and consider insurance cover for members. This presents an opportunity for advisers and intermediaries as self-managed super funds are one of the fastest growing segments of the superannuation industry, but also one of the most under-insured.

With this in mind, we have launched IOOF SMSF Insurance, allowing you to be able to offer your clients with SMSFs access to an easy to use, cost-effective insurance solution for any self-managed super fund.

Key features:

  • Suitable for SMSF members aged between 16 and 64
  • Benefit expiry age of 70
  • Death only cover or death & (linked) TPD cover
  • No maximum sum insured for death cover and up to $3 million for TPD cover
  • Interim accidental death cover during application assessment included, up to $1 million for up to 90 days
  • Competitive premiums, especially for ages 50 and over
  • Easy acceptance up to $1.5 million
  • Transfer of existing cover from other insurers and superannuation funds permitted, up to $2 million cover
  • TPD definition aligned to superannuation legislation
  • Terminal Illness included, up to the first $2 million of death cover
  • Issued, underwritten and administered by TAL Life Limited ABN 70 050 109 450 AFSL 237848 (TAL)
  • One stop application and administration management by TAL
  • Competitive premiums
  • Yearly premium renewal, on 1 July common renewal date
  • TPD claim qualification period 90 days
  • Built in inflation protection
  • Continuation option available within 30 days of leaving the SMSF, up to age 60 and no requirement for further evidence of health.

Benefits and remuneration options at a glance:

  • No minimum number of clients
  • Brief application/Personal Statement for cover up to $1.5 million
  • Medical tests including blood tests to be arranged by TAL for cover over $1.5 million
  • Adviser remuneration of 20.1 per cent of annual premium plus GST (level)
  • Reduced premiums where nil adviser remuneration option is taken.

Further information:

IOOF SMSF Insurance Forms and Documents

Underwriting Requirements Table

Premium Quote Calculator

The below calculator now includes the ability to select Adviser Commission or select a No Adviser Commission option.


For day to day enquiries please contact

TAL Life Limited
Group Life Administration
Phone: 1800 130 869
Fax: (02) 9465 2065

Applications should be mailed to

TAL Life Limited
Group Life Administration
GPO Box 5380
Sydney NSW 2001