Can I have TPD insurance both inside and outside superannuation?

Yes, you can hold TPD insurance both inside your superannuation fund and as a standalone policy outside super, and there are strategic reasons to do so. Inside super, you pay premiums from your super balance using pre-tax money (providing a 15% tax benefit), but you're limited to 'Any Occupation' definitions and payouts may be taxed if you're under 60. Outside super, premiums are paid from after-tax income and aren't tax-deductible, but you can access 'Own Occupation' definitions (easier to claim) and payouts are generally tax-free. Having both provides layered protection - you might claim on your Own Occupation policy outside super while not yet meeting the stricter Any Occupation test inside super. However, holding both means paying two sets of premiums, and you need to ensure total coverage doesn't exceed what you actually need. If you do have both, never consolidate your super accounts without understanding the tax implications, as this can significantly increase taxes payable on claims.