Insurance - Squirrel

Squirrel SMSF Insurance

Protect your nuts for your loved ones.

The simplest way to obtain commission free life insurance for your SMSF

Squirrel’s Insurance cover has been designed in partnership with an Australian insurance provider. We’ve focused on bringing all the benefits of group insurance usually only available to industry and large corporate funds to SMSF members. It’s a revolution and like everything at Squirrel there are no commissions.

Life and Total Permanent Disablement Insurance

We’ve used our size to negotiate premiums at bulk rates and offer insurance that is usually cheaper than buying it as an individual. Through letting Squirrel help you choose an Insurance Plan, you can receive Death and/or Total and Permanent Disablement cover (medicals can apply depending on your circumstance). Some unique features of the Squirrel Insurance Plan are:

  • Death and Total and Permanent Disablement cover to $750,000;
  • the ability to increase your cover at significant times in your life via a simple process;
  • competitive insurance premiums with no commissions to advisers;

We can setup an automatic deduction of the insurance premiums from your super account; so you don’t have to worry about when they are due.  Furthermore, insurance premiums effectively get a 15% tax deduction that is passed back to you.

Getting insurance cover

Getting cover is easy. When you establish your SMSF you have the option for Squirrel to provide you with a quote for Death, Total & Permanent Disablement (TPD) insurance.  Don’t worry about complicated forms and medicals from the outset, if you choose to go forward with the quote then Squirrel can assist you in getting your requirements completed as easily and quickly as possible.

There is no obligation to accept this initial cover or maintain it, though if at a later time you wish to take out this type of insurance you may need to complete (additional) medical tests and underwriting requirements. You’re free to apply to change your level of cover at any time (you might need to provide health information to the insurer).

Type of insurance we offer

Insurance for Death and TPD is designed to provide financial support if you die or become totally and permanently disabled. Cover is available for:

  • Death – from 15 up to 70 years of age
  • TPD – from 15 up to 65 years of age.

Your cover is based on your age and the type of work you do. You can get cover as a fixed amount and the cost increases as you age. Or you can have units of cover at a fixed cost per unit. The cover may change dependent on your age. You choose.  It’s just like the cover you’d be used to from an industry super fund.

Voluntary and extra cover

With Squirrel Insurance you can increase cover at life events or simply apply for additional cover

Why choose Insurance under your Squirrel Superannuation SMSF

  • icon02
    Low Premiums with group buying discounts and no commissions
  • icon01
    Guaranteed minimum cover and no medicals
  • icon03
    Designed specifically for SMSF

Landlord Insurance

We’ve partnered with Terri Sheer – Australia’s leading landlord insurance specialist to provide simplified cover for investment properties purchased through your self managed super fund.

Like everything we do at Squirrel, there is no commission paid by Terri Sheer, just a simple and easy process for setting up your cover and the premium comes automatically from your SMSF bank account. After all if you have a property in your SMSF it’s likely to be it’s largest asset so taking care of it is really important.

Loss of rental income

Protects you from loss of rental income as a result of scenarios such as those listed below.
Provides cover for:
  • Absconding tenant
  • Defaulting tenant
  • Failure to give vacant possession
  • Death of a tenant
  • Hardship
  • Untenantable property
  • Prevention of access
  • Failure to vacate a holiday let property

Contents

Protects those furnishings you forget, like curtains, carpets, blinds and light fittings.What contents are covered?
Provides cover for:
  • Accidental loss or damage
  • Deliberate damage
  • Malicious damage
  • Flood
  • Storm or rainwater
  • Water damage
  • Fire or explosion
  • Show more

Building

Protects your building against: loss or damage caused by tenants, their family or their invited guests.
Provides cover for:
  • Accidental loss or damage
  • Deliberate damage
  • Malicious damage
  • Theft or damage due to theft
  • Pet damage
  • Scorching

Additional benefits

When things go wrong it’s great to know your insurance covers a range of extras like:
  • Legal expenses up to $5,000
  • Representation costs up to $500
  • Bailiff/Sheriff fees
  • Replacement of locks up to $250
  • Re-letting expenses that exceed the tenant’s bond up to $500
  • Removal of goods up to $500
  • Tax audit costs up to $1,000
  • Legal liability cover up to $20 million
*Legal expenses and representation costs are only covered under the Landlord Preferred Policy and Scheer Short Stay Policy.

Do it online

Make an inquiry or apply online

Get in touch now

Ready for a chat?

  • character_female-squirrel_liz-testimonial

    I needed to move my money into an SMSF. I was sick of the [standard retail fund] losing my money. I was not happy with my current arrangements, paying for things I wasn’t using and wanted to put it into property rather than shares.
    Squirrel really assist you with setting up an SMSF, especially with being compliant, without it being a minefield, and navigate you through it.
    I have found Squirrel to be absolutely amazing. Every consultant has been very responsive and helpful, the whole experience was efficient. In comparison to other SMSFs, the model Squirrel has is good value for money.

    – Anna, 46, NSW

  • squirrel-dave-testimonial

    We joined Squirrel so we could access our super money to buy an investment property.
    I’ve been with Squirrel for four months, certainly the process with Squirrel was fine, special compliments to the Squirrel team assistant, Darralyn, she was very helpful.
    I feel confident about purchasing an investment property with my Squirrel SMSF.
    We are all set to go – once we get the property.

    – Graham, 72, NSW

  • squirrel-dave-testimonial

    It’s been really easy to set up a self-managed super fund with Squirrel. They are really helpful and friendly, and the package is offered at a very competitive price. I use my fund for trading shares and overall it’s been simple and easy.

    – Suwandy, 35, NSW

  • character_female-squirrel_liz-testimonial

    Knowledge and reliable staff, cost-effective. I have already recommended Squirrel to friends.
    Thank you for setting up the SMSF, all the hard work was done for me – from start to finish.

    – Melissa, 40, ACT

  • character_female-squirrel_liz-testimonial

    I chose Squirrel mainly for the funny ads. It seemed so simple to obtain an SMSF, and it was. I didn’t need to do anything except provide relevant information.

    – Lynda, 65, NSW

Important Information

Squirrel is an Australian Financial Services Licensee that supports everyday Australians manage their own superannuation through amazing technology and education.
Squirrel Superannuation Services Pty Ltd ABN 87 169 366 750 is the holder of AFSL and Australian Credit License number 462160 and is a wholly owned subsidiary of Squirrel Limited ABN 64 605 835 514, A.C.N 605 835. Any advice on this website does not take into account your objectives, financial situation or needs and you should consider whether it is appropriate for you. You should consider the relevant Product Disclosure Statement and the Financial Services Guide available at squirrelsuper.com.au when deciding whether to acquire, or to continue to hold, a product.
Testimonials appearing on this site were obtained from Squirrel customers, mostly in September 2016. They are individual experiences of customers that have used our products and/or services. We do not guarantee that they are typical results that consumers will generally achieve. Testimonials are not necessarily representative of all those who will use our products and/or services.
Information is current as at 21 September 2016 and is subject to change.