The word corporate superannuation mean that every organization and business reserve a pool of fund for their employees which amount the employer pay to the employees at the time of retirement. Numbers of people are not well aware about his term of superannuation and the main reason behind this ignorance is lack of information and lack of interest. You can also define this term in this way that pool of fund is generated from the side of employer for the benefit of the employees and tax is liable on this fund. Some people define this superannuation fund in these words that it is the cash contribution from the employer or the owner of the business for future benefit of the employees and for their retirement. It is the responsibility of each and every organization or business to pay the corporate superannuation fund to their employees.

The amount of this fund is depends on the salary of the employees and some part of their income deduct for the superannuation fund and also the employer contribute the same amount equal to the amount of employees amount for the fund generation. Superannuation fund scheme was started in 1989 under the act of superannuation Act 1989. There are several types of corporate superannuation funds like personal superannuation funds, industry superannuation funds, employer superannuation funds, self management funds and the last one is retail superannuation funds. You can select any superannuation fund type for your future benefits and every funding option has a different percentage for the deduction of money from your salary.

Numbers of peoples are well aware about the term of income protection insurance policy and its importance. Majority of the people use this insurance policy for securing their future because they want to live luxurious life and for this purpose they take the loans from bank for fulfilling their personal and luxurious needs. In income security insurance policy some amount of money is deducted from your monthly amount on regular basis up to the maturity of the policy. During this insurance policy process if you lost your job then you surely unable to pay back your loans which you take from the bank. Then you have no need to worry about the repaying of the debt because your entire debt amount is paid from the amount of insurance policy which deducted from your monthly salary. This is the main and major benefit of the income insurance policy and if the time period of the policy is mature then the insurance company or provide pay back your entire income protection insurance policy amount.

But for the claim Income protection insurance policy amount you have to prove that your job gone due to the organization financial problems and you cannot leave the job voluntarily. When you provide the authentic prove to the insurance company then the company paid your all debts and also the insurance company give you some certain amount of money for meeting your basic need but this amount of money is give you for a limited time of period.