BGL managing director Ron Lesh said Simple Fund 360 clients can review a fund member's life insurance, prepare an insurance quote, pre-fill an insurance proposal and purchase the policy.

“All SMSF trustees are required each year to consider whether fund members require life insurance. This new feature makes it easy for Simple Fund 360 clients to fulfil this obligation.”

AGL director John Felsch said Simple Fund 360 clients now have automated access to AGI’s SMSF Master Insurance Plan, a product specifically designed for SMSF members.

“BGL, through Simple Fund 360, has created a streamlined solution to provide SMSFs online access to life insurance at competitive wholesale rates, providing significant savings for SMSF members,” he said.

This new solution, he said, also makes it easy for BGL clients to highlight SMSFs without insurance.

The insurance is underwritten by AIA Australia, an insurance company providing life insurance to over 3.2 million Australians, he added.