- Presentations, Technical Resource
- Investment standards
National Conference 2024
In the ever-evolving landscape of Self Managed Superannuation Funds (SMSFs), accountants and financial advisers face a complex web of legislative requirements, regulatory interpretations, and diverse life insurance options. This presentation is designed to equip professionals with the knowledge and insights necessary to guide SMSF trustees to meet their obligations regarding their investment strategy and the requirement to consider the life insurance needs of their members.
We will provide tips and guidance on:
- Understanding the legislative framework governing SMSFs, with a primary focus on the obligation to consider life insurance within the fund’s investment strategy.
- Explore the interpretations and rulings from Australian Securities and Investments Commission (ASIC), regarding the provision of compliant life insurance advice for SMSF members.
- Give An in-depth examination of the advantages and disadvantages of various types of life insurance available to SMSF members.
- Compare and contrast life insurance options, examining any Advice risks to your practice and your clients through retaining life insurance within an Industry/APRA fund group scheme.
By attending this presentation, you will gain a comprehensive understanding of the legislative requirements, regulatory guidance, and the intricate landscape of life insurance options within SMSFs. Armed with this knowledge, you will be better equipped to provide informed and compliant advice to your clients, ensuring their SMSFs meet their financial goals while adhering to all relevant obligations and regulations.
Following this session you will be able to:
- Master the relevant legislative framework by understanding the SIS regulations, focusing on obligations related to life insurance in investment strategies.
- Navigate ASIC Guidelines and learn how to provide compliant life insurance advice in line with ASIC interpretations and rulings.
- Evaluate and assess insurance options by gaining insights into the pros and cons of various life insurance options available to SMSF members.
- Critically assess the risks associated with retaining life insurance within Industry/APRA fund group schemes and how it affects your practice.
The contents of this resource are taken to be correct at the time of publication.
Disclaimer: Technical Papers contain general advice only and are prepared without taking into account particular objectives, financial circumstances and needs. The information provided is not a substitute for legal, tax and financial product advice. Before making any decision based on this information, you should assess its relevance to the individual circumstances of your client. While the SMSF Association believes that the information provided is accurate, no warranty is given as to its accuracy and persons who rely on this information do so at their own risk. The information provided in this bulletin is not considered financial product advice for the purposes of the Corporations Act 2001. © SMSF Association