Life Insurance and Income Protection for Hairdressers, Barbers and Beauty Therapists
Income Protection for Hairdressers, Barbers and Beauty Therapists and Their Families
Wages, casual shifts, a chair or a split, the days you work, your services and any cover you hold shape what’s worth considering. We can help you look at cover, apply, review existing policies and lodge claims with you.
Financial Advice for Life Insurance and Income Protection
Who We Help
- Stylists and colourists on permanent salon hours
- Casual stylists and therapists working Saturdays and busy seasons
- Barbers on wages, a rented chair or in a shop of their own
- Beauty, skin and waxing therapists in salons, clinics and day spas
- Nail, lash and brow technicians paid by the hour, on a split or by their own invoices
- Chair and room renters invoicing for their own clients
- Stylists and therapists paid on a commission split
- Salon owners who still work on the floor
- Experienced stylists stepping into teaching or salon management
We Can Help You
- Set out the services you offer, from cut and colour or barbering to skin, nails, lash and brow, on a cover application
- Compare any minimum weekly hours in an income protection policy with a part-time, Saturday or full salon week
- Choose an income protection waiting period around salon sick leave, a casual roster or chair rent still falling due
- Check how a policy’s disability wording treats a week of consults, front-desk work or cuts without colour
- Explain the partial benefit some policies pay when you come back on fewer appointments a day
- Lay out commission, retail sales bonuses, tips and allowances for the income an application looks at
- Base the income protection amount on a household budget, not the pay from December or wedding season
- Review any cover in super before a move to a rented chair, a commission split or a salon of your own
- Look at cover with you when you also see clients of your own at home, on mobile bookings or at weddings
- Take a personal insurance claim forward with you, built from your salon services, hours and pay, while the insurer or fund weighs it
What we advise on
How Each Cover Works Around Salon Work
Income Protection
During a stretch away from your bookings through illness or injury, what could keep the household running?
Income protection can pay part of your income after a waiting period, helping with regular bills during time you can’t work.
Together, we’ll compare income protection around the way you’re engaged, the days you work and the services you offer.
Income protection is designed to pay part of your lost income if illness or injury stops you working, usually a percentage of your pre-tax earnings in the 12 months before the illness or injury. Each policy has its own definition of disability, and some only cover you if you work a minimum number of hours. Waiting periods usually run from 14 days to two years, and you must be unable to work at the end of the waiting period.
What we look at with you for income protection:
- Foils, precision cutting or nail art, set beside how some policies define your usual occupation’s important duties
- A lighter salon book after time off, and the partial benefit wording some insurers attach to reduced earnings
- A switch some policies make from usual occupation to any occupation after a long stretch off the salon floor
- Three salon days, a Saturday-heavy week or a full week, set beside any hours minimum a policy carries
- Paid sick leave in a permanent salon role, or a chair renter’s own savings, weighed when choosing how long payments wait
- A monthly amount drawn from your household budget, not from takings in December or wedding season
- Cash tips, retail sales bonuses and commission, and how each insurer’s income wording counts them in the 12-month figure
- Deducting income protection premiums paid from stylist or therapist wages, a question your accountant confirms at tax time
Life Insurance
For anyone at home, which costs your pay meets today would still need covering if you were no longer here?
A lump sum paid to your beneficiaries can go towards debts, everyday costs and plans already in place.
We can size life cover with you from any debts, the people relying on your pay and any cover in super.
A life policy can pay a lump sum to your beneficiaries if you pass away, and life cover may also come with terminal illness cover. If you haven’t named a beneficiary, your estate or the super trustee may decide where the money goes, and life cover sold in a package may be reduced by any amount paid on other claims in that package.
What we weigh up with you for life cover:
- Rent, or home loan and car repayments, met from stylist or therapist pay, each loan balance added up as it stands
- A fit-out or salon purchase loan in your own name, listed with what is still owed
- Any default insurance in a fund from an earlier salon job, training or apprenticeship, included when the household amount is worked out
- Who your super trustee may pay: eligible people or your estate, with any nomination revisited when salon or family plans shift
- Childcare, school or rent costs a stylist’s or therapist’s wage meets today, if anyone depends on that income
- Colour, cutting or beauty services spelled out when a life insurer asks what you do for work
- If you have a partner, any separate cover your partner has, counted with yours against rent or a shared loan
- Opening or buying a salon, a mortgage or a growing family, each a reason to resize the life sum
TPD Insurance
Looking ahead, how might the goals you’re working towards be funded if you could never work again?
TPD cover can pay a lump sum towards the years ahead if you can’t work again, as the policy defines it.
Together, we’ll weigh TPD definitions against the skills a hair or beauty career builds.
TPD cover can pay a lump sum if illness or injury means you’re unlikely to work again, as the policy defines it. Own occupation looks at your usual job, any occupation at any job suited to your education, training or experience, and some definitions at activities of daily living. Own occupation cover is usually only available outside super, and a TPD payout may reduce any life cover packaged with it.
What we compare with you for TPD:
- Own occupation cover framed around a qualified stylist, barber or beauty therapist, set against wider any occupation tests
- Any years spent teaching apprentices, educating or managing a salon, and how an any occupation test may read that background
- TPD inside each fund from different salons, with each definition laid out side by side
- Front-desk, consulting or training work, and how TPD wording may treat tasks still within reach
- Washing, dressing and other everyday tasks, which some TPD definitions test in place of hairdressing or beauty duties
- Life insurance bundled into the same contract as TPD, and how a TPD payout may shrink the life amount
- Salon fit-out finance, car repayments or a mortgage in your name, each counted when a TPD amount is sized
- Income protection’s benefit period and a TPD lump sum, weighed against salon loans and household costs
Trauma Insurance
With a serious diagnosis to work through, how might treatment and time away from your bookings be paid for?
If you’re diagnosed with a listed condition that meets the policy’s definition and isn’t excluded, trauma cover can pay a lump sum.
We’ll talk through what a trauma policy lists with you, and how it sits beside income protection.
Trauma cover can pay a lump sum for a listed condition that meets the policy’s definition and isn’t excluded, and medical definitions can be different between insurers. New trauma cover can’t be held inside super, which has been the rule for policies written since 1 July 2014. Where trauma is packaged with life cover, your life cover could be reduced by the amount paid out on a trauma claim.
What we go through with you for trauma cover:
- The illnesses a trauma schedule lists, and how closely a diagnosis must fit each definition, which differs between insurers
- Severity grading on a trauma schedule, and the part payment some insurers make for a milder diagnosis
- Salon wages or chair income covering the cost of trauma insurance, which super can no longer take on as new cover
- A trauma lump sum’s place beside income protection when bookings stop for treatment
- Treatment time out of the salon for a casual stylist or chair renter, who has no paid sick leave to draw on
- Chair rent, room hire or salon overheads that may keep falling due through treatment, counted in the amount
- Trauma cover for a salon owner, alongside any business expenses cover some insurers offer separately
- The tax treatment of a trauma lump sum received alongside salon earnings, worked through with your accountant
Cover in Super
Thinking back to a first salon job or apprenticeship, what cover came with that fund, and is it suited to your work today?
Reading each fund’s insurance against the work you do now can show what you hold and what may be worth changing.
We’ll check the insurance in every super fund you hold with you, before any fund is changed.
Many funds give life and TPD cover, and some income protection, to members who meet their terms, for a set amount. Default cover inside super can usually be issued without medical checks, though it may carry pre-existing condition rules set out in the fund’s PDS, and increasing it is usually underwritten like any other application. For a new member under 25, it may not start unless you ask, and premiums come off your super balance.
What we check in each fund with you:
- Any fund a first salon or apprenticeship employer paid into, and what insurance, if any, it carries today
- Hairdresser, beauty therapist or a general label: the occupation on each fund’s file, fixed by asking the fund if it’s wrong
- A stapled fund carried from an earlier job into salon work, whose insurance might not suit the new role
- An apprentice or junior stylist under 25, whose insurance in super may need a request before it begins
- Past health matters checked against the exclusions and pre-existing condition terms in each fund’s PDS
- The yearly insurance cost taken from each account, set against the payout each fund’s cover offers
- Accounts from several salons, left separate until the insurance inside each is laid side by side
- Asking a fund for more than the default amount when a salon purchase or fit-out loan begins, which is usually underwritten
Cut, Colour, Skin and Nail Work
In what ways could describing your services and working days clearly help a cover application?
Describing your work as it really is, service by service, can help an insurer see what you do each week.
Together, we set out your services, days and hours on any application and check how any policy or fund records them.
Hair and beauty work can take in cutting, colouring, shaving and beard trimming, waxing, lash and brow tinting, laser hair removal and electrolysis, nails, skin treatments and massage. Insurers usually ask about your job and income when you apply, and the duty is to answer the questions asked with reasonable care. At claim, an insurer can ask for details of your work duties, including physical requirements, and the number of hours you work each week.
What we set out with you about your work:
- Cutting, colouring and chemical services, each described on an application exactly as you perform the work
- Barbering, shaving and beard work, set out alongside any cutting and styling you also do
- Waxing, facials, skin treatments and massage, named one by one rather than grouped under one title
- Nail, lash and brow work, with the share of your week each of those services takes
- Laser hair removal or electrolysis, if part of your services, described with your usual duties
- Front-desk, consult or training time, recorded beside the hours you spend working on clients
- A written part-time pattern, where the industry award applies, and the hours you usually work each week
- Your work description looked at again when you add, drop or change a service you offer
Wages, Casual, a Chair or a Split
Moving from wages to casual shifts, a rented chair or a split, what could change for any cover you hold?
Checking your cover before the change can show what you’d then arrange for yourself.
We can review your cover with you before a move between wages, casual work, a chair, a split or your own salon.
Under the National Employment Standards, all employees except casuals are entitled to paid sick and carer’s leave, while self-employed people don’t get paid holidays or sick leave. On a contract, a business has to pay your super if you’re paid mainly for your labour, for your personal labour and skills, and the work can’t be delegated, but not under a contract with a company, trust or partnership. Whether you’re a contractor or an employee is a legal question.
What we look at with you before a change:
- Paid sick leave on permanent wages, or none as a casual or on a chair, set beside a waiting period
- A split under contract: the salon pays super on all three ATO tests, unless you contract through a company, trust or partnership
- Super and any cover in it, funded from your own income when you rent a chair or a room
- Whether you’re an employee or a contractor, a question the Fair Work Ombudsman suggests taking to a lawyer
- Income records for an application: payslips on wages, or invoices and tax returns on a chair or split
- Workers compensation through a state, territory or Commonwealth scheme, where each scheme sets who qualifies
- Business expenses cover, which some insurers offer separately from income protection, if you own the salon
- Public liability, treatment and salon insurance, left with a general insurance broker who can advise on it
Making a Claim
When work has to stop for a while, how might you get through a claim’s forms and follow-up?
Support from a financial adviser can make each step of a claim clearer while the insurer or fund assesses it.
We’ll stay with a claim we lodge with you while the insurer or fund assesses it.
Moneysmart suggests speaking first to whoever arranged the cover, such as a financial adviser, the fund or the insurer, or your employer for cover through an employment arrangement. An insurer can ask about your duties, including physical requirements, your weekly hours, and payslips and tax returns, or financial statements if you’re self-employed. The insurer, or the fund for cover in super, assesses the claim, and complaints go to the insurer or super fund first, then AFCA.
How we help with a claim:
- Each insurer’s or super fund’s claim paperwork, completed with you for every cover you claim on
- The services, days and hours you worked before stopping, written up for the insurer as your week ran
- Proof of salon earnings, from payslips to chair-rent or split invoices, collected for the insurer
- A treating doctor’s view of the colour, cutting or beauty work you can’t do at the moment, shared only with your consent
- A workers compensation matter staying with its scheme, as claims on your own policies go ahead with you
- Sick leave, commission still owed or other money arriving during time off, and whether a policy counts it against your benefit
- Returning on fewer clients a day, and what some policies ask you to report for a partial benefit
- A claim decision you’d query on your own cover, put to the insurer’s or fund’s internal dispute resolution, then AFCA
Health Conditions & Illnesses
Could a health condition change the cover an insurer offers you?
Our guides explain what insurers may ask about common conditions, and a health condition doesn’t necessarily rule out cover.
We can help you prepare an application when you have a health condition or a past illness.
Underwriting is how an insurer assesses an application and decides whether to offer cover, on what terms and at what price. Possible outcomes include standard terms, a higher premium, an exclusion, a request to apply again later, or a decline.
Guides by health condition:
- Cover with a health condition: where to start
- Autoimmune conditions
- Back or joint conditions
- Blood conditions
- Cancer history
- Diabetes
- Digestive conditions
- Eye or hearing conditions
- Heart conditions
- HIV or hepatitis
- Kidney conditions
- Mental health conditions
- Neurological conditions
- Respiratory or sleep conditions
- Weight, smoking or alcohol history
- Women’s health conditions
Your work and your cover
How Your Work Shapes Your Cover
What We’d Look At Together
- The services you offer: Insurers usually ask about your job when you apply. Cutting and colour, barbering, skin and waxing, nails, lash and brow work, and laser or electrolysis are different kinds of work, so whichever you do is worth describing as it is, answering each question asked with reasonable care.
- Your usual working week: Some policies only cover you if you work a minimum number of hours. Where the industry award applies, a part-time employee’s regular pattern of days and hours is agreed in writing, so the days and hours you usually work, including any Saturdays, are worth setting out.
- Wages, casual shifts, a chair or a split: How you’re engaged shapes the support you have. Under the National Employment Standards, all employees except casuals are entitled to paid sick and carer’s leave, while self-employment brings no paid sick leave. It also shapes who pays your super and the records an application uses.
- Commission, bonuses and tips: Income protection is usually based on your earnings in the 12 months before an illness or injury, and each policy’s own income wording decides what counts. The ATO asks for all your income in your tax return, including bonuses, tips and the allowances your employer reports on your income statement, and those records are what an application and any claim draw on.
- Clients of your own outside the salon: A home studio, mobile bookings or wedding work beside a salon job is part of your duties and your income, so both kinds of work, and the hours across them, are worth setting out on an application.
- Moving to a chair, a room or a salon of your own: Moneysmart suggests checking whether a move from employee to self-employed affects the insurance cover through your super. On a contract, a business pays your super only if all three ATO tests for contractors are met, and not under a contract with your own company, trust or partnership.
- Back on a lighter book of clients: Some policies pay a partial benefit when you can work in a reduced capacity and earn less than before. Workers compensation is separate, through a state, territory or Commonwealth scheme, each scheme sets who qualifies, and other payments may reduce an income protection benefit.
- Teaching, managing or a new direction: A move into teaching, training or salon management is worth telling any fund or insurer about, so the duties on record match the work you do. New experience may also change how a TPD any occupation definition reads, and Moneysmart suggests asking what happens to the cover if you change jobs.
This list isn’t complete, and nothing on it decides anything on its own. We start by learning about your situation, and any decision on cover is the insurer’s.
Your options
Why Work With a Financial Adviser for Your Personal Insurance?
| A Ryker financial adviser | Directly from an insurer | An online broker or comparison site | |
|---|---|---|---|
| Type of advice | Personal advice Personal adviceAdvice tailored to you. Like most financial advice, it’s given under an Australian financial services licence.Personal, not general. General advice is a recommendation or opinion that doesn’t consider your circumstances. Personal advice is tailored to your objectives, financial situation and needs.In your best interests. When we give you personal advice, the law requires us to act in your best interests.In writing. You’ll usually receive a Statement of Advice that explains the strategies and cover recommended to you, and why.On the public register. Financial advisers who give personal advice on life insurance, super and investments must be on ASIC’s Financial Advisers Register. See our financial advisers on the register:Ray RegmiRicky (Rajiv) RegmiJack OinezaDean DesoukeyRyker’s financial advisers are authorised representatives of Synchron Advice Pty Ltd, AFSL 243313. | Usually general advice | Usually general advice |
| Advice that considers your health, family, work and goals | Yes, as part of your advice | Not with general advice | Not with general advice |
| Choice of insurers | A wide range | That insurer’s policies only | A panel of insurers, side by side |
| Help preparing your application | Yes, alongside you | The insurer’s own process | Varies |
| Advice on holding cover inside or outside super | Part of your advice | Not with general advice | Not with general advice |
| Support if you need to claim | Yes, we’re in your corner | The insurer’s claims team | Varies |
| Cost of advice | No cost for the initial conversation. Any advice after that is a paid service, with its scope and fee agreed with you in writing first. Choose: | No separate advice fee | No separate advice fee |
Type of advice
- Ryker financial adviser
- Personal advice Personal adviceAdvice tailored to you. Like most financial advice, it’s given under an Australian financial services licence.Personal, not general. General advice is a recommendation or opinion that doesn’t consider your circumstances. Personal advice is tailored to your objectives, financial situation and needs.In your best interests. When we give you personal advice, the law requires us to act in your best interests.In writing. You’ll usually receive a Statement of Advice that explains the strategies and cover recommended to you, and why.On the public register. Financial advisers who give personal advice on life insurance, super and investments must be on ASIC’s Financial Advisers Register. See our financial advisers on the register:Ray RegmiRicky (Rajiv) RegmiJack OinezaDean DesoukeyRyker’s financial advisers are authorised representatives of Synchron Advice Pty Ltd, AFSL 243313.
- Direct from an insurer
- Usually general advice
- Online broker or comparison site
- Usually general advice
Advice that considers your health, family, work and goals
- Ryker financial adviser
- Yes, as part of your advice
- Direct from an insurer
- Not with general advice
- Online broker or comparison site
- Not with general advice
Choice of insurers
- Ryker financial adviser
- A wide range
- Direct from an insurer
- That insurer’s policies only
- Online broker or comparison site
- A panel of insurers, side by side
Help preparing your application
- Ryker financial adviser
- Yes, alongside you
- Direct from an insurer
- The insurer’s own process
- Online broker or comparison site
- Varies
Advice on holding cover inside or outside super
- Ryker financial adviser
- Part of your advice
- Direct from an insurer
- Not with general advice
- Online broker or comparison site
- Not with general advice
Support if you need to claim
- Ryker financial adviser
- Yes, we’re in your corner
- Direct from an insurer
- The insurer’s claims team
- Online broker or comparison site
- Varies
Cost of advice
- Ryker financial adviser
- No cost for the initial conversation. Any advice after that is a paid service, with its scope and fee agreed with you in writing first. Choose:
- Direct from an insurer
- No separate advice fee
- Online broker or comparison site
- No separate advice fee
Your Cover for Hair and Beauty Work, Worked Through Together
Your Hair and Beauty Services Set Out
Cut and colour, barbering, skin, nails, lash and brow work described in full on any application.
Working Days Read Against Hours Terms
The days and hours you usually work set beside any weekly minimum a policy sets.
Waiting Periods Lined Up With Leave or Savings
Any paid sick leave, or savings if you’re casual or rent a chair, set beside each waiting period.
Disability Wording Read for Precision Work
Definitions and any partial payments read with you for consults, desk time or fewer clients a day.
Commission, Bonuses and Tips Set Out
Each part of your pay laid out from payslips or tax returns for an income protection application.
Cover Reviewed Before a Chair or a Split
Any cover in super read with you before a move to a chair, a split or your own salon.
Every Fund’s Cover Read, From Your First Job On
Insurance in each fund you hold read with you, from any apprenticeship fund to the one you use today.
A Personal Claim Lodged and Followed Up With You
Duties, hours and pay records gathered with you while the insurer or fund assesses a claim.
Proactive, Holistic, and Experienced Financial Planning
Good advice begins with listening. We start with how your work runs: the services you offer, the days you work, who you work for or beside, and what you’d like your cover to do for you and the people close to you. We explain each type of cover in plain terms, answer your questions as they come and fit our conversations around your bookings. Our recommendations usually come to you in writing, so you can read them when it suits you, at your own pace.
We take on the paperwork with you, so it isn’t one more task between appointments. With your consent, we can gather payslips or invoices and tax returns, fund statements, PDSs and any chair or split agreement, then follow up with funds and insurers for you. Someone you trust, whether a partner or family member, is welcome to join us. If you ever make a claim, we’ll lodge it with you and stay in touch with the insurer or fund until there’s a decision.
Every financial decision impacts the next
Your Financial Life Is Connected
Great advice starts with understanding the bigger picture. Every stage of life presents new opportunities and challenges, from buying property and changing careers to growing your family, planning for retirement and protecting what matters most. At Ryker, we help connect every piece of your financial world into one clear strategy.
Learn more about Financial Planning and Advice for Hairdressers, Barbers and Beauty Therapists
Your
Wealth
- Property & Investing
- Career & Income
- Tax Strategy
- Insurance & Protecting Your Family
- Super & SMSF
- Wealth & Investments
- Life Events & Changes
- Business & Wealth
- Legacy & Future Wealth
- Retirement Planning
Frequently Asked Questions
Ryker’s financial advisers are licensed to give personal advice under Synchron Advice’s Australian financial services licence (AFSL 243313). We start with you: your hair or beauty work, your family, work, income, assets and goals. Then we recommend the types and amounts of cover that suit your life.
Hair and beauty work can mean wages, casual shifts, a rented chair or a split, part-time days and services from colour and barbering to nails, lashes or laser. Each can affect how an insurer assesses an application and how a policy’s definitions read a claim, so your set-up, services, hours and pay are part of what we look at.
With a financial adviser, you also have:
- Access to a wide range of insurers, who can assess the same health details differently
- Help preparing your application and answering the health questions with care
- Advice on whether to hold cover inside or outside super, and the trade-offs
- Reviews as your health, family and work change
- Someone in your corner if you ever need to claim
Going directly to an insurer can mean no separate advice fee, but you’ll only see that insurer’s policies, and you’ll generally receive general advice only, which doesn’t consider your personal circumstances.
Going through an online comparison site or broker, you may see more options side by side, but they also generally provide general advice only, which doesn’t consider your whole financial picture.
When we give you personal advice, the law requires us to act in your best interests, which we take personally. The insurer still decides whether to offer cover and on what terms.
We’re invested in your long-term success. What we do is personal, and we take it personally.
Your financial decisions connect, so we consider the parts of your financial life that are relevant to the advice you need:
- Property & Investing
- Career & Income
- Tax Strategy
- Insurance & Protecting Your Family
- Super & SMSF
- Wealth & Investments
- Life Events & Changes
- Business & Wealth
- Legacy & Future Wealth
- Retirement Planning
This is how we help you make decisions today with your longer-term goals in view.
Everybody’s situation is different, so we listen first, understand what matters to you and explain your options clearly before we make a recommendation.
It depends on the policy’s wording and the insurer’s assessment. Each income protection policy has its own definition of disability. Some define total disability as being unable to do one or more of the important income-producing duties of your usual occupation, and not working, and some pay a partial benefit if you work in a reduced capacity and earn less than before. In some policies, the test can also change later in a long claim.
At claim, an insurer can ask about your duties, including physical requirements, and your weekly hours, so colour, cutting or nail work and any consult or desk time are worth describing as they are. We can read these terms with you before you choose a policy, and the insurer assesses any claim.
Each set-up comes with different support. Under the National Employment Standards, all employees except casuals are entitled to paid sick and carer’s leave, while being self-employed means no paid holidays or sick leave. Who pays your super, and the records an application uses, also differ: payslips on wages, or invoices and tax returns on a chair.
Workers compensation is separate, through a state, territory or Commonwealth scheme, and each scheme sets who qualifies. An income protection waiting period is usually chosen with all of this in view. We can set out the leave, super and other support you have with you, then compare personal cover around it, and the insurer decides on any application.
It depends on the arrangement. On a contract, a business has to pay your super if you’re paid mainly for your labour, for your personal labour and skills, and the work can’t be delegated, but not under a contract with a company, trust or partnership. Whether you’re an employee or a contractor is a legal question, and the Fair Work Ombudsman suggests seeking legal advice on it.
Any cover inside super follows that fund’s terms. Personal cover outside super is applied for by you, in your own name. We can look at both with you, and the insurer decides on any application.
It depends on the policy’s income wording. Income protection usually bases the benefit on your earnings in the 12 months before the illness or injury, and each insurer works that figure out its own way. The ATO asks you to include all the income you receive as a hairdresser or beauty professional in your tax return, including cash or bonus payments, tips and the allowances your employer reports on your income statement.
At claim, an insurer can ask for payslips and tax returns, or financial statements if you’re self-employed. We can compare how each policy treats the parts of your pay with you, and the insurer decides on any application.
Both kinds of work are part of your job, so both are worth describing. Insurers usually ask about your job and income when you apply, and the duty is to answer the questions asked with reasonable care. That means setting out the services you offer in each place, your hours across both, and the income from each.
Records for each kind of work, such as payslips from the salon and invoices or a tax return for your own clients, are what an insurer can ask for if a claim is made. We can set this out with you before you apply, and the insurer decides on any application.
On the personal side, it comes down to how each policy defines things. Income protection can pay part of your income after a waiting period if you’re unable to work as its definition of disability sets out, and some policies pay a partial benefit when you work in a reduced capacity. TPD cover looks at whether you’re unlikely to work again, under an own or any occupation definition, and trauma cover can pay a lump sum for a listed condition that meets the policy’s definition.
Salon or treatment insurance, and any personal accident policy sold as general insurance, is something a general insurance broker can advise on. We can compare the personal covers with you, and the insurer decides on any application and assesses any claim.
A quote tool can show a price quickly, based on the questions it asks. It may not read a policy’s minimum hours terms against a three-day or Saturday salon week, how its disability wording and any partial benefit treat colour, cutting or nail services, or the insurance already sitting in each of your super funds.
Advice starts with your set-up, whether wages, casual shifts, a chair or a split, and the services and days you work. We then look across a wide range of insurers with you, and the insurer decides on any application.
Your accountant and financial adviser bring different expertise to the same decisions. Your accountant can advise on tax reporting, structures and consequences; we help you plan how cashflow, debt, super, investments and protection work towards your goals. We can coordinate before important decisions.
What an accountant does
- Prepares and lodges tax returns, BAS and financial statements
- Advises on tax structures such as companies, trusts and partnerships
- Manages bookkeeping, payroll and ATO compliance
- Provides tax advice on the consequences of a transaction
What a financial adviser does
- Sets a long term strategy across retirement, investing and cash flow
- Builds wealth from early in a working life, starting with cash flow, a first home and super
- Recommends specific super funds, investments and personal insurance
- Operates under an Australian Financial Services Licence, which is required to give personal advice on financial products
- Handles retirement planning, Centrelink and aged care strategy, and estate planning considerations
Professional roles and authorisations matter. We provide financial advice within our authorisations and work with your accountant for specialist tax advice and lodgements.
Where they work together
- Tax position. Your accountant confirms your marginal rate, deductions and carried forward losses, which shapes decisions on super contributions, investment structures and the timing of asset sales.
- Business and entity structures. Your accountant advises on the structure itself and your financial adviser works within it for investments, insurance and succession planning.
- Cash flow. Your accountant’s figures can help us understand what’s available for debt repayment, protection and longer-term goals.
- Before key decisions. We can coordinate with your accountant on contributions, asset sales and other material choices in time to consider relevant tax consequences.
Yes. Stylists, barbers and therapists all start with the same first step: a conversation about the services you offer, how you’re paid and what you’d like your cover to do.
There’s no cost for the initial conversation. Any advice after that is a paid service, with its scope and fee agreed with you in writing first. Worth bringing: recent payslips, or invoices and tax returns if you rent a chair or work on a split, any chair or split agreement, a statement from each super fund, any policy you hold, and a note of your usual days and services.
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Testimonials from Our Clients
Client Success Stories
A Property Sale Became a Full PlanEstimated long term financial benefitApprox $448,000
A Plan to Keep the Family HomeLife cover established$1.2 Million
Cover in Place and Fees LoweredImmediate value$1,055 a year
Super Fees More than HalvedProjected retirement uplift$416k
Income Covered for a New MortgageImmediate value$975 a year
A 13-Year Mortgage Paydown PlanPlanned mortgage paydown13 years
A First Home and Family CoveredImmediate value$1,346 a year
Age Pension Kept After an InheritanceProjected uplift at 90More than $642,000
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