Personal Insurance

Planning for the unexpected is an often neglected area which we believe to be of paramount importance to the financial wellbeing of families and businesses. Perera Crowther Financial Services offers retail insurance solutions to individuals, particularly business owners and high-level professionals.

How it Works

Life Insurance insures your life. If you lose your life this insurance will pay a lump sum to your family or nominated beneficiaries.

TPD stands for Total and Permanent Disablement Insurance. This insurance cover provides a lump sum benefit to the insured if you lose the ability to work or perform household duties again, or suffer a loss of ability due to a permanent disability.

Critical Illness Insurance, sometimes referred to as ‘Trauma Insurance’ or ‘Living Insurance’, provides a lump sum payment if you suffer a specified medical condition and survive. It can assist with living expenses, medical costs, special care, and it provides a level of financial independence while you are recovering.

Income Protection Insurance provides a monthly payment in the event you are unable to work due to sickness or injury.

Benefits of Personal Insurance

When you insure yourself you are really insuring the loss of your income and the loss of your contribution to the household and family.

You are also insuring your health, should you need special care.

There are different types of insurance cover to take care of these issues. Each of these insurances can be tailored to your circumstances and you should seek advice to
make sure you are adequately protected.

How We Help

There are countless insurance products available from retail insurers, direct insurers and superannuation funds. The pricing, benefits and pitfalls of these products differ considerably. Without experienced advice, you are liable to find yourself with an insurance policy that is worthless when it comes to actually making a claim.

Perera Crowther Financial Services can help you:

  • Determine which insurance types you need
  • Find the best plans, considering price, features and claim outcomes
  • Handle applications and secure underwriting
  • Provide ongoing advice and support as questions arise
  • Continually review and monitor the market for better plans
  • Support claim handling and resolution when incidents occur.

When designing an Insurance program, we start by gaining a thorough understanding of your financial position in order to assess the impact of death and disability. The strategic advice we provide will take into account your wishes in various circumstances, which may culminate in us recommending certain insurance policies. During the next phase we will research any existing insurance contracts you may own and recommend the retention or divestment of those policies and/or recommend the purchase of new insurance contracts to help meet your needs. Our review will culminate in helping you with applying for any new insurance contracts and/or adjust existing insurance contracts.

Key outcomes of our advice:

  • Understand which risks to retain and outsource (by purchasing insurance policies)
  • Quantify the financial risks of death and disability
  • Maximise tax efficiency when purchasing insurance
  • Ensure correct ownership of insurance policies

Fee Structure

Our Retail Insurance service is predominantly a commissioned service, where the various insurance companies pay our firm a commission for the placement of product solutions. We utilise this commission to subsidise the upfront work in preparing our strategic recommendations.

Further, we receive an ongoing commission from the insurer to assist with the costs of ensuring your policies are consistent with your objectives and position as well as for the management of claims through to resolution.

Our conduct is governed by a fiduciary duty in the Corporations Act to ensure that our recommendations are in the best interests of our clients. In addition, commissions are broadly similar among the top 10 insurers in Australia, thus there is little incentive to place a product based on commission levels.

Learn More

Want to know more? If you have questions about obtaining personal insurance, or about modifying your current insurance coverage, please click the button below to contact us. We would be happy to discuss your questions and requirements. We also welcome enquiries from our corporate clients who would like to discuss options for providing individual insurance advice to their staff.