Doctors
Dentists
Psychiatrists
Pharmacists
Veterinarians
If you don’t have the right coverage then you have no cover at all.
Medical professionals who are self-employed or run private practices have very specific
occupational risks. If you’re incorrectly insured for life, income and risk protection, then you’re not really covered at all. That’s where Avanir can help.
Your entity structure
is factored
Be assured your insurer will understand your specific business structures.
Your occupational risks are
safeguarded
Own the right policies to ensure full cover for risks such as accident, needlestick injury and specific injuries like fractures.
Your remuneration
structures are protected
Pay flow differs in private and public practice, we know how to navigate multifaceted income streams.
Life insurance needs differ depending on the stage of your career.
Employee practitioners and their families
Term Life
Is the most basic but important form of cover. It pays a lump sum to the policy owner in the event of a sudden death or terminal illness of the life insured. It provides financial security to your loved ones by covering some of life’s big risks, including paying off mortgages/other loans, replacing lost income and education costs.
Total & permanent disability (TPD)
This covers the policy owner in the event of an accident, injury or illness that leaves them totally and permanently disabled and unable to work again. It pays a lump sum to cover big risks such as paying off mortgages/other loans, education costs and funding for long-term disability care costs.
Income protection
This cover pays the policy owner a monthly benefit in the event of an accident, injury or illness that causes them to be unable to work either partially or totally. The payment is usually a percentage of pre-tax income to help meet living expenses while they recover. There a choice of waiting period and benefit period for the policy.
Trauma/Critical Illness
This provides a lump sum payment if the life insured is diagnosed with a serious illness including heart attack, stroke and cancer. There is no test of ability to work. Its purpose is to complement the other insurances assisting with medical costs and treatments, rehabilitation and short-term loss of income.
Practice owner and Partnerships
Buy/Sell Partnership Succession
A tailored solution that provides affordable protection for business partners and their families in the event of a critical health issue, such as death, terminal illness, or permanent disability. The policy pays out a lump sum as compensation for the value of the partner’s share in the business.
The affected partner/family receives the benefit payment, while the remaining partners can continue operating the business without disruption thanks to an orderly transfer of the partner’s shareholding.
Key Person
Is a tailored, cost-effective solution for private and public companies for the death, total and permanent disability or trauma of key persons in their business. A key person is defined by the ATO as the loss of an employee/manager/executive that would result in significant loss of revenue, profit and or clients by that employer.
Key person insurance quantifies the risk and establishes cover that will pay a benefit into the company to provide financial protection for this loss and the recruitment and training of a replacement.
Business Expenses
This is like income protection for your business. It covers the fixed ongoing expenses that are crucial to maintaining revenue and cash flow if you’re unable to work due to injury or illness.
The policy pays a benefit monthly via reimbursement of up to 100% of eligible expenses incurred. Payments can continue for up to 12 months, keeping your business afloat while you seek medical treatment. It is different to business interruption insurance that many businesses hold.
Find out more about how you can maximise your life cover.
Let’s talkAvanir is a specialist for medical practitioners.
With unique risks and liabilities on the line, having the right insurance cover is crucial to protect you and your business.
- We conduct a comprehensive employment structure and occupational risk assessment to understand how to best structure/design your covers.
- We will complete the complex financial analysis of your tax accounts to ensure you set the right levels of cover and will be paid correctly at claim time.
- Tailor cover that protects your occupation risks fully.
- Provide superior ongoing review and claims advocacy services.
“I have previously recommended Chris to my colleagues and will continue to recommend him as he is a highly professional and empathetic advisor.”
You’ll see how Avanir can work for you.
Business protection
that is in line with your life insurance.
Specialist advice
and expertly managed.
Superior support
and stewardship at the time of claims.
Excellent success rate
and timeframes for claims.
Find out more about how you can maximise your life cover.
Let’s talkIt’s easy to work with us:
1. Discovery Call
Here we learn more about your business and your current coverage. We conduct a needs analysis to identify any gaps in your coverage.
2. Set-up
We provide comprehensive recommendations for complete cover based on your business requirements and what outcomes best fit.
3. Be Confident
With your insurance under expert guidance and Avanir’s ongoing consultation, you’ll have the confidence to work well and do well.