I had no idea where my lost super was or the names of the funds. I just new it was scattered everywhere and I should definitely have more than $3,000 in my super. Australian Super Finder found all 7 of my funds and now my balance is almost $50,000. Thank you so much for getting my super back on track. ? Leonie, Thomastown VIC

Super Facts and Tips

Superannuation Life and TPD Insurance

As there are many super fund providers, and one out of four of these super funds may have different policies. Before addressing any problem, or doing anything with your super, it would be best to contact your super provider first to see what you have and what you don't have.

Life Insurance

How much to you pay for insurance every year? There are two common scenarios when it comes to life insurance. Either you don't need it and won't go insured. If you are single, don't have children, no mortgage and have no beneficiaries, then you probably don't need life insurance. So you can do away with putting out hundreds of dollars every year.

But if you're married, have children, mortgage and beneficiaries; is your insurance benefit enough to provide for your family and a comfortable lifestyle? Will your insurance benefits pay off the mortgage and debts, and give you a future they deserve and provide a future income? Either you're paying for something you don't need, or preparing with the best cover for your family.

TPD Insurance

This is the most expensive small print in history. You probably think your TPD insurance will provide a lump sum permit if you become permanently disabled, and so you should. That's why your employers are paying for it. Wrong!

There's a condition of release you won't find in any PDS called the or/in condition definition. Any TPD insurance inside superannuation, with rare exceptions, is any TPD insurance. It will only pay the benefit if you cannot do any occupation after you have TPD.

So if you are capable of working in any simple job, you won't receive your benefit. The chances of getting your payment are slim to loan. The alternative is to get or/in TPD insurance. The only main condition is that you cannot do your occupation. The premiums are higher but so are your chances of getting a benefit. TPD cover is never available for home workers.

For more tips on Superannuation Life and TPD Insurance go to www.australiansuperfinder.com.au

All information on this website is of a general nature only. We have not taken into account your financial situation, needs or objectives. You need to make up your own mind and ascertain yourself if it is right for you. We recommend you read the product disclosure statement(s) and the financial services guide before making any financial decision.

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