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Should Doctors And Dentists Have Insurance In Super?

There has been a lot of talk recently about the downside of holding insurance in super.

The government, and many financial commentators, feel that insurance premiums are draining people’s retirement funding.

This is definitely a significant factor to consider when reviewing the ownership options for your insurance policies.

The following article also makes some interesting points: read it HERE

However, in this blog, I wanted to make a few other points for you to consider:

– Doctors and Dentists should always favour Own occupation TPD cover over Any occupation cover. Quite simply because you have specific skills that determine your high income-earning capacity.

You cannot hold own occupation cover in super, but you can still implement a split structure, with part of the cover owned in super.

– Income protection provides a better tax deduction in your own name and the policy features in super will be restricted due to the superannuation legislation.

– Medical professionals’ cash flow should allow them to fund their policies from personal funds rather than super. The aim should be to maximise your super contributions for wealth creation purposes.

– Many advisers, like us, now prefer to rebate insurance commissions, leading to lower premiums (by about 30%). This makes it more affordable to hold cover in your personal name.

– Finally, stop seeing insurance as a cost, and rather see it as an investment. Would you think twice about paying your medical indemnity cover?

For any insurance advice, or tailored financial strategies, please feel free to contact me via

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