If your total income is under $60,342 a year you can take advantage of the government cocontribution scheme and receive up to $1,500 free cash for your super account.  

Advantages:

a.  This is risk free and tax free. 

b.  You can combine this with the strategy in Chapter 1. If your superannuated lifeinsurance premium is $500 per annum, you could contribute $1000 to the superfund and the government will contribute $1,500 (limits apply) so you will have $2,500 in your super fund to pay premiums for 5 years ie $2500/$500.  So you get 5 years insurance for
$1,000.

Disadvantage:

c.  The contribution you make needs to be from after-tax dollars.