Personal insurance is a key part of our financial planning process at Astier. While we often place considerable emphasis on wealth creation and retirement planning, another vital aspect of your financial strategy is safeguarding your future and having a plan in place to ensure your objectives can still be achieved in the event of the unforeseen.

Personal insurance can protect your family, your business, your assets and your ability to create wealth. It shifts the financial burden created by personal risks away from you and creates peace of mind that you and your family are financially secured.

Life Insurance

Life insurance protects your family and dependents by paying a lump sum if you die or are diagnosed as being terminally ill. This lump sum payment can be used for goals such as final expenses, repayment or clearing of debts, generating an income stream for your family, paying for future education expenses or estate equalisation.

Total and Permanent Disability (TPD) Insurance

TPD insurance protects you and your family by paying a lump sum payment if you suffer a permanent disability and are unlikely to work again in either your ‘own’ or ‘any’ occupation again. This lump sum payment can be used to provide funds for medical expenses, home modifications, debt repayment or protecting your wealth accumulation strategy.

Trauma Insurance

Trauma (or Critical Illness) protects you and your family by paying a lump sum payment if you suffer a specified illness or injury, such as a heart attack or stroke, that may not leave you disabled long term but is traumatic at the time. This lump sum payment can be used to meet medical costs or provide financial flexibility so you are not forced to work through a traumatic period.

Income Protection Insurance 

Income protection (or salary continuance) protects you and your family by providing a regular income stream to replace a large percentage of your income if you are unable to work for a period due to illness or injury to protect your lifestyle.

Business Expenses Insurance

Business expenses insurance protects your business by reimbursing you for the fixed business expenses that continue to be incurred while you are unable to work due to illness or injury. These regular payments can help keep your business afloat in the short term or ensure you have a saleable asset if you are unable to return to work.

Business Continuation Insurance

Business continuation insurance (or key person insurance) protects a business by providing a lump sum if a ‘trigger’ event such as death or disability results in the loss of a ‘key person’ who makes a significant contribution towards the profitability or stability of the business. This lump sum payment may help to offset a reduction in revenue, cover the costs of finding and training a suitable replacement, or gives you time to restructure or arrange a sale.

Without insurance, you and your family or dependants may need to run down savings, sell assets, and/or rely on family or Centrelink for assistance. You may find it difficult to maintain your standard of living or pay for the care and medical assistance you need. This can place extra stress on you when you need it least.

At Astier, we understand the importance of personal insurance and are committed to helping our clients find the right coverage to meet their unique needs by developing a tailored insurance plan across these key areas.

Developing a Tailored Plan

We provide a comprehensive personal risk insurance service where we develop a plan tailored to your individual needs and work through a panel of insurers to deliver the best outcome for your personal situation. This is a detailed strategic process to ensure that you and your family are protected from life’s uncertainties.

Assess Your Personal Risks

• Life Stage: Consider where you are in life. For example, a single professional may need different coverage compared to someone with a family or a homeowner with significant debt.

• Dependants: Identify who relies on your income (spouse, children, elderly parents), and what their financial needs would be if you were no longer able to provide.
• Financial Obligations: Evaluate your current debts, such as a mortgage, personal loans, or credit cards, as well as future obligations like children’s education.
• Lifestyle and Health: Consider factors like your lifestyle, occupation, health status, and whether you’re prone to certain health risks (e.g., family history of illness, hazardous job).

Identify Your Needs

• Types of Cover: Consider what types of cover you require and what events you want to be insured for or are prepared to accept the risk of or self insure.
• Cover Amounts: Determine the right coverage amounts to protect your family. Consider factors like how much income you would need to replace, how much debt you would need to repay or how much you want to set aside future expenses like your children’s education or your family’s lifestyle.

Research Available Policies

• Pre-assessments: Contact our panel of insurers if there are any potential health or underwriting concerns to see who offers the best terms.
• Policy Comparison: Research and compare policies from various providers, focusing on the different benefits, key policy features and premium costs.

Tailor Your Cover

• Ownership: Should cover be owned inside or outside of super or a combination of each. This can have significant tax benefits or consequences.
• Premiums: Should premiums be stepped, level or hybrid to match your long-term needs.
• Extra Benefits: Are there additional premium options or features that are important to you like indexation or the ability to repurchase cover.
• Affordability: Determine how much you can comfortably allocate towards your insurance premiums or whether concessions need to be made to the cover. Ensure you don’t need to compromise other financial goals.

Review and Manage Your Plan

• Life Events: Major life events such as marriage, children, buying a home or changing careers can impact on your insurance needs. It’s important to regularly review your plan and adjust as required.
• Inflation: Setup your policies to protect you against inflation so your coverage remains sufficient as the cost of living rises.
• Claims: If the need ever arises for a claim on any of your policies we are there to assist and guide you through the process at every stage.

With a comprehensive personal risk insurance plan in place you can have peace of mind knowing that you and your family are protected against life’s unforeseen events and that Astier is available to support you through any of life’s challenges.

Benefits of Insurance

Financial Protection

One of the most significant reasons for having personal insurance is the financial protection it offers. Life is unpredictable, and unforeseen events such as accidents, illness, or loss of income can have devastating financial consequences. Personal insurance provides a safety net, ensuring that individuals and their families are not left struggling to cover costs like medical bills, mortgage payments, or daily living expenses in times of crisis.

Peace of Mind

Knowing that you and your loved ones are protected in case of unexpected events brings invaluable peace of mind. Personal insurance allows individuals to live their lives with confidence, knowing that they have a plan in place to handle potential risks. This sense of security enables people to focus on their personal and professional goals without the constant worry of financial instability due to unforeseen circumstances.

Securing the Future of Loved Ones

Life insurance is another essential component of personal insurance. It provides financial support to beneficiaries in the event of the policyholder’s death. This ensures that loved ones are not left in a financially precarious situation, allowing them to cover funeral costs, pay off debts, and maintain their standard of living. Life insurance is particularly important for individuals with dependents, such as children or a non-working spouse.

Building Financial Resilience

Personal insurance helps build financial resilience by allowing individuals to recover more quickly from setbacks. With the right insurance coverage, individuals can focus on rebuilding and moving forward after an incident, rather than being overwhelmed by financial strain. This resilience is crucial for long-term financial planning and stability.

Ready to protect your financial future?

At Astier, we believe that personal insurance is not just about protecting oneself from potential losses, but about empowering individuals to live life confidently. Our comprehensive range of insurance strategies are designed to meet the diverse needs of our clients, providing them with the financial protection and peace of mind they deserve.

Whether you’re looking to protect your health, home, income, or loved ones, our team is here to help you navigate the complexities of insurance and find the coverage that’s right for you.