The Bookmakers Superannuation Fund is able to offer its members life insurance from within the fund. This is arranged through a group insurance policy which is underwritten by Hannover Life Re. Being a "group" policy means that the fund has been able to access premium rates on a wholesale basis. The advantages of effecting insurance via the fund are as follows:

• Premium rates are very competitive
• As all members are covered under one policy there is no Policy Fee
• There is no minimum premium
• Premiums can be debited against your fund accumulation
• Underwriting is facilitated
• It is very easy to increase/decrease the level of cover
• Administration is simplified
• For employer groups of ten or more persons, Automatic Acceptance
provisions apply

By making a contribution to the fund to pay for the premium it is possible to obtain a tax deduction for the premium paid. This is not possible if insurance is effected personally outside of a superannuation fund.

Cover can be for Death Only or for Death and Total & Permanent Disablement (TPD). TPD is defined as losing the use of two limbs, the sight of both eyes, the use of one limb and the sight of one eye or being incapacitated to such an extent to render you unlikely ever to engage in any gainful profession, trade or occupation for which you are reasonably qualified by education, training or experience. This needs to be verified by two medical practitioners.

The details of insurance premium rates can be found on pages 39 to 45 of the PDS dated 1 July 2008.

Further details can be obtained from the fund’s administrator, Peter Mueller & Associates Pty Limited (PMA).

Peter Mueller can be contacted on (02) 9482 8586.