Personal risk insurance advice in Australia.
Personal risk insurance advice, not a policy sold to you online. Cover is the quiet half of a financial plan, and most people overpay for something thin — or hold it inside super where it fails the test at claim time.
The five covers we advise on.
Personal risk cover divides cleanly into five products. Each is sized against your income, debts, dependents, and tax position. For the long-form read on waiting periods, benefit periods and own-occupation wording, see the income protection guide.
Income protection
Replaces a percentage of your income if illness or injury stops you working. The single most important policy for most working professionals.
TPD
Total and permanent disability cover. A lump sum if you can no longer work. Own-occupation versus any-occupation is the key distinction.
Trauma
Critical illness cover. A lump sum on diagnosis of conditions like heart attack, stroke, cancer. Closes the gap that income protection and TPD do not.
Life
Lump sum on death or terminal illness. Often paired with TPD. Stepped versus level premium has long-term consequences.
Business
Key person cover, buy and sell agreements, partnership protection for owners and shareholders.
Why advised cover beats direct.
The work happens at application, not at claim. That is the difference between cover that pays and cover that argues.
- +Underwriting upfront
Health, occupation, and financial history assessed at application. Fewer surprises at claim time.
- +Ownership and tax structure
Inside super, outside super, or through a trust. The right answer depends on your circumstances.
- +Sum-insured math
Based on actual income, debt, and dependents. Not a default slider.
- +Annual review
Cover changes as your life changes. Children, mortgage, business equity.
- +Claims advocacy
If and when the time comes, you have someone in your corner who knows the file.
He had helped me right from the beginning in setting up my personal risk insurance, which I thought was incredibly difficult as I had to obtain my health record details from the NHS.
Who this matters for most.
Doctors and specialists
High income, long training pipeline, complex underwriting including overseas medical records.
Young professionals
Cheaper to lock in cover early, before health changes.
Self-employed and contractors
No employer sick leave. Income protection is non-optional.
Business owners
Key person and buy-and-sell agreements protect the entity, not just the family.
Families with mortgages
Debt and dependents define the cover needed.
Anyone with existing cover
A second look on what you already hold, without changing planners.
Credentials and licensing.
- Practitioner
- Balki Balakrishnan
- Experience
- 12+ years writing personal risk
- Membership
- FAAA
- Authorisation
- AR 409415 of La Verne Capital Pty Ltd
- Pillar
- Part of financial planning
- Standalone reviews
- Available without a full plan
Insurance recommendations require personal advice. Insurance sits inside the financial planning pillar.
The questions clients ask before booking.
Generally yes, when held outside super in your personal name. The deductibility depends on the policy structure and your personal tax position. We work through this in the review.
Both have a place. Inside super eases cash flow because premiums come from your balance, but tax treatment at claim is different and some features (own-occupation TPD, agreed value IP) are restricted. Outside super gives you a wider product set and clearer claim outcomes. Most professionals hold a mix.
Stepped is cheaper now and more expensive later. Level smooths the cost over the long term. The right choice depends on how long you intend to hold the cover and your cash-flow profile. We model both.
Application questions, sometimes a medical, blood tests, and access to your health records. The work happens at application, not at claim. That is the point of advised cover: fewer surprises when it matters.
Not always. Insurers respond differently. An advised application can be shopped to underwriters who are more likely to accept your situation, often with loadings or exclusions that are fair rather than blanket declines.
Two to six weeks for straightforward cases. Longer for files involving overseas medical records or complex specialty practice. We coordinate the underwriting end to end.
Read on each cover
- Income protection insuranceWaiting periods, benefit periods, agreed versus indemnity value.
- TPD insuranceOwn-occupation versus any-occupation and how it changes the price.
- Trauma insuranceCritical illness lump sums and the conditions covered.
- Life insuranceStepped versus level premium and ownership choices.
- Business insuranceKey person, buy and sell, partnership protection.
- Insurance for doctorsUnderwriting around specialty practice and overseas records.
Information on this page is general in nature. It does not take into account your personal objectives, financial situation, or needs. Read the relevant Product Disclosure Statement and consider whether personal advice is appropriate before acquiring any insurance product mentioned here.
Book a free insurance review.
A one-hour conversation. If your current cover is fine, we will tell you. If it is not, we will show you what would actually pay.