Wealth creation and security can come from a variety of directions

Whether you want to invest for the long-term, protect yourself and your family or find a tax-effective way to contribute to your super, there a number of options available to you.

You can obtain insurance cover through super.

Insurance through your super can be a simple, tax-effective way to protect yourself and your family. Pay your premiums through your super and sleep better knowing you’re covered.

Depending on your circumstances, when you pay for your insurance through your super fund, you may benefit from tax concessions. So insurance via your super can be a cost-effective and convenient way to make sure you're covered. Talk to your financial planner to see what works for you.

As with insurance outside of super, you may be able to apply to increase or add cover to reflect your current situation. You may need to provide information on your health, occupation and pastimes with your application.

Take control of your financial future now.

Whether you’re saving for a house, an overseas holiday, or you want to build a nest egg you can access when you like, the right sort investment can help put your money to work, grow your wealth and achieve your goals.

A managed investment allows you to choose from a diverse range of investment options. Your money is pooled with that of other investors for potential access to a broader range of investments and greater diversification than you might otherwise be able to achieve. And unlike super, there are generally no restrictions on the amount and frequency of contributions or withdrawals.

Tax effective ways to contribute to your super.

You can use your after-tax money to make contributions to a super fund which can still be a tax effective way to create long-term wealth.

Investment earnings on your super account are taxed at a maximum rate of 15% (less any imputation credits or other deductions). What’s even more attractive, once you reach age of 60 and meet a condition of release, any withdrawals from your super are tax free!

And of course you can continue to benefit from the power of compound interest that comes from investing over time.

What you need to know
Information current as at November 2009. Any advice is this article is provided AMP Financial Planning Pty Limited, ABN 89 051 208 327. This article contains general information only. It does not take into account your objectives, financial situation or needs. Please consider the appropriateness of the information in light of your personal circumstances. If you decide to purchase or vary a financial product, your financial planner, AMP Financial Planning and other companies within the AMP Group will receive fees and other benefits, which will be a percentage of either the premium you pay or the value of your investment. You can ask us for further details about this.