Top Performing Super Funds with Income Protection Insurance

Canstar has found the top performing super funds with income protection insurance on its database for annual investment returns over one year, three years and seven years to 31 March 2018.

If you were unable to work because of unexpected illness or injury, it would be nice to know you have some level of cover for your lost income to help keep up with things like mortgage payments, rent, groceries or your child’s school fees.

Fortunately, many Australians can get income protection insurance through their super fund – and in some cases may even have it by default. On Canstar’s database, 11 super funds Canstar rates offer default income protection, and all funds in the market except one offer tailored income protection insurance that you can purchase. This can make income protection more manageable for some as insurance premiums are deducted from your superannuation account balance rather than your own bank account.

While going through super can be a convenient option, it’s also important to be aware of the fees often associated with holding insurances through superannuation because they can gradually wear away at your nest egg. Additionally, income protection policies held through super may not always be as comprehensive as those offered outside super, with most only providing cover for two years’ worth of income protection, which could be a problem if you have a long-term illness or can’t find work for several years. You can find out a bit more about the other features of income protection here.

The decision to hold income protection insurance through your superannuation really comes down to your own personal situation and determining what will be best for you. Strong past performance can be one important consideration to take into account when choosing a super fund with income protection insurance, as are the fees charged and the features that fund provides.

With this in mind, Canstar has prepared a list of the top-performing super funds with income protection insurance over the one, three and seven years to 31 March 2018.

Please note these performance figures reflect net investment performance (returns minus investment tax, investment management fees, the maximum applicable ongoing management fees and membership fees).

Top performing super funds with income protection insurance: one-year returns

The following table contains details of the superannuation funds that offer income protection insurance on Canstar’s database based on someone aged 40-49. This table has been sorted by one-year performance (highest to lowest).

Please note that the performance information shown in the table is for the investment option used by Canstar in rating of the superannuation product.

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Top performing super funds with income protection insurance: three-year returns (average per annum)

The following table contains details of the superannuation funds that offer income protection insurance rated by Canstar based on someone aged 40-49. This table has been sorted by three-year performance (highest to lowest).

Please note that the performance information shown in the table is for the investment option used by Canstar in rating of the superannuation product.

Top performing super funds with income protection insurance: seven-year returns (average per annum)

The following table contains details of the superannuation funds that offer income protection insurance rated by Canstar based on someone aged 40-49. This table has been sorted by seven-year performance (highest to lowest).

Please note that the performance information shown in the table is for the investment option used by Canstar in rating of the superannuation product.

Compare Superannuation with Canstar

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