Temporary Incapacity Income Stream
The effect of COVID-19 will have much more than a financial impact on many individuals, which will unfortunately include people who succumb to ill-health, either physically or mentally. Where adequate salary continuance is in place, the SMSF may be able to pay a temporary incapacity income stream to help substitute the loss of income for the individual.
When you order on the Smarter SMSF platform you will be providing with the following documents (PDF):
- Request to commencement a temporary incapacity super income stream
- Trustee resolutions confirming the payment, along with the conditions of the temporary incapacity super income stream
- Trustee notification to the member for the payment of the temporary incapacity super income stream
- Product Disclosure Statement (PDS)