Fund Your Life Insurance Through Superannuation with AMP Flexible Lifetime Super
AMP Flexible Lifetime Super is designed to be the only superannuation account you will need by providing a range of investment and insurance options that you can tailor as your needs change..all while only paying for what you really need and not being weighed down with mounting fees.
Why should I fund my life insurance through AMP Flexible Lifetime?
- Choose type and level of cover that you require
- Your take home pay won't be affected as you are funding through your superannuation
- Quick and easy to apply for
- Provides death cover and TPD cover up to $250,000
Benefits of AMP Flexible Lifetime – Super
There are different kinds of asset vehicles where you can invest your superannuation fund. These asset grounds have also different levels of risks. The main rule in investment is the greater the risk, the greater the potential return is, if there is a reward at all. Each of them has their own advantages and disadvantages.
When you invest your super through the AMP Flexible Lifetime – Super, you are also entitled to benefits and features included in the scheme. To give you a clearer and more detailed idea at each feature and benefit, here’s a list.
- A wide range of investment options: The plan gives you a variety of investment styles from leading investment managers. Out of the 70 investment options, you are allowed to invest in up to 15 different investment options which range from multi-sector to single-sector investment options.
- Easy switching: This allows you to switch your investment options anytime at no extra cost. All you have to do is go online or fill out a form.
- Pay only for what you need: With AMP Flexible Super, you will only pay for the investment choices that you actually need. AMP Flexible Super levies different fee structures for their 3 investment levels. However, you will only need to pay the fees for the specific investment level that you opt for. AMP Flexible Super does not charge any kind of fee for providing you with the option to change your investment level during the duration of your super fund. Therefore, you have the absolute freedom to change investment levels and opt for new choices that are in keeping with your risk appetite and your life changes.
- Insurance options for your family: AMP Flexible Super allows you the choice to purchase different types of insurance covers within your super fund. Payment is made from your account making it more tax effective for you.
AMP Flexible Super offers its members two convenient insurance choices within superannuation. You can opt for the Essential Protection plan which provides you with basic insurance cover for death, illnesses, and total and permanent disability or Flexible Protection plan for more comprehensive insurance features and benefits.
- Management fee rebate: You can save up to 0.85% every year on management costs for balances which are over $100,000.
- Flexible bonus: You and your family member can link your accounts giving you great savings on management costs.
- Flexible contributions: You have the option to contribute as often as you want together with your employer and your spouse. You can even invest a lump sum anytime if you are eligible.
- Ease of access. If you have met the legal requirements for the preservation age, you can access your super and make partial or lump sum withdrawals from it. You also have the option to receive it as an account-based pension.
- Beneficiary options: Another feature from this scheme is the option to choose how your death benefit is going to be paid. You can choose more than one beneficiary, as the superannuation law would allow it, to receive the death benefit.
- Pension refresh facility: This allows you to transfer money from your super account to your retirement account.
- Easy management: You are given complete control over the management of your super fund which is very cost and time effective. This can be done in three ways:
- Access you online portfolio for easier viewing and management.
- Keep your super in one place through the Super Consolidation Service.
- Monitor changes and news through member statements, reports, and newsletters.
Investment Options for Your AMP Flexible Lifetime – Super
The AMP Flexible Lifetime – Super has 70 investment options which are divided into two classes – multi sector and single-sector investment options. Furthermore, there is also a LifeStages strategy which offers a lower risk.
- Multi-sector investment option – This option is basically divided into two categories:
- Traditional - This type of multi-sector investment option uses long-term asset allocation which spreads your investments in different asset classes to give pre-selected portfolios deemed appropriate under the following risk profiles:
- Moderately cautious
- Moderately aggressive
- Specialist - This category is not dependent on risk profiles, but uses broad range asset allocation invested in multiple asset classes although it could also be used in a few asset classes.
- Single-sector investment option
This option invests your assets in a single asset class to supplement your cash investment. You can choose from this option several asset classes to build the portfolio that complements your needs and goals. Asset classes that belong to this group are:
- Cash, short-term securities, deposits
- Core fixed interest
- Enhanced fixed interest
- Credit and fixed interest strategies
- Alternative strategies
- Australian equities
- Global equities
- Small capitalisation equities
- Specialist equities
- LifeStages strategy
This option is a mixture of different investment options which are less risky and something which complements your age range.
Planning your retirement should not be as daunting as you thought it to be with AMP Flexible Lifetime-Super. Preparing your future should be as exciting as you envision it. You can do this by investing your superannuation fund in different investment options that complements your needs and finances.