Superannuation Laws Amendment (2014 Measures No. 1) Regulation 2014 (127 of 2014)

Schedule 4   Definition of traditional life insurance policy

Superannuation Industry (Supervision) Regulations 1994

1   Subregulation 1.03(1)


traditional life insurance policy means a life policy within the meaning of section 9 of the Life Insurance Act 1995 if:

(a) the policy includes an investment component; and

(b) the premium is not dissected (whether by reference to the investment component or otherwise); and

(c) the sum insured, together with bonuses (if any), is payable only on:

(i) the death of the life insured; or

(ii) the occurrence of the earlier of the death of the life insured and the attainment by the life insured of the age specified in the policy.

Copyright notice

© Australian Taxation Office for the Commonwealth of Australia

You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).