Self-employed people face similar needs in many instances to employed people – with a few additional challenges. Self-employed people may have business partners, personal guarantees on business loans as well as the standard mortgage and dependants to consider. In addition, many self-employed people will find that their superannuation fund may not provide insurance.
If you are self-employed, and using insurance for business purposes you may also find that premiums can in some circumstances be tax-deductible (for example if you purchase the policy through your DIY superannuation fund). We recommend you seek advice on how life insurance can fit into your personal financial plan.
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