Life Insurance and Income Protection for Pharmacists
Income Protection for Pharmacists and Their Families
Your duties, how you’re paid, any pharmacy you own or part-own and any cover in super shape your personal cover. We’ll help you read any cover you hold, compare and apply, and lodge a claim with you.
Financial Advice for Life Insurance and Income Protection
Who We Help
- Interns finishing supervised practice and moving onto a registered pharmacist’s pay
- Community pharmacists whose pay includes weekend and evening penalty rates
- Pharmacists on an annualised wage paid one figure in place of penalties and overtime
- Pharmacists in charge and pharmacist managers carrying more responsibility for the dispensary
- Hospital pharmacists in dispensary, ward or clinical roles
- Locums working short blocks in other towns, through an agency or on an ABN
- Consultant pharmacists doing home medicine reviews or residential medication reviews
- Buyers of a pharmacy share and the pharmacist partners they buy in with
- Pharmacists back from parental leave or returning on fewer days
We Can Help You
- Describe dispensing, patient counselling and any vaccination, compounding or medication review work on an insurance application
- Check how a policy’s definition of income treats weekend and evening penalty rates or an annualised wage
- Match an income protection waiting period to any sick leave a pharmacy employer gives, or to locum gaps with none
- Read own and any occupation TPD wording against dispensing and the roles away from the dispensary your degree may suit
- Show locum, medication review or owner income to an insurer with tax returns, invoices or business accounts
- Read what any cover in each super account provides before you change employer, sector or how you’re engaged
- Plan business expenses cover for a pharmacy’s rent, wages and leases, separate from income protection for your own pay
- Size life and TPD cover among co-owning pharmacists to fund a share purchase under a solicitor-drafted buy-sell agreement
- Review cover when you step up to pharmacist in charge or manager, buy into a pharmacy or sell your share
- Prepare and lodge a claim with you, attaching payslips or locum invoices and your treating doctor’s reports
What we advise on
How Each Cover Works Around Pharmacy Work
Income Protection
Should illness or injury keep you out of the pharmacy for a while, how would the bills keep being paid?
Part of your pay can keep arriving through income protection after a waiting period, helping with the household bills.
We’ll compare income protection with you around how you’re paid, from penalty rates to locum blocks.
Income protection can pay part of your income after a waiting period if illness or injury stops you working, subject to the policy’s terms. Moneysmart notes the benefit is usually based on your earnings in the 12 months before the illness or injury, and that each policy has its own definition of disability. Waiting periods can run from 14 days to two years.
Where pharmacy pay and hours meet an income protection policy:
- Weekend, evening and public holiday penalty rates, and whether a policy’s definition of income counts them
- An annualised wage letter itemising what the salary replaces, kept with payslips as evidence of earnings
- Paid sick and carer’s leave under the National Employment Standards, 10 days a year of service full-time, pro rata part-time, none for casuals
- A benefit period running for a set term or to a set age, chosen against any business loan and home costs
- Fewer dispensary days after a move to part-time, and any hours threshold a policy sets
- Partial benefits, where offered, while you build back up to your usual pharmacy hours and shifts
- Any deduction for premiums you meet yourself, which an accountant confirms when your return is prepared
- Professional indemnity arrangements your registration requires, which are separate from personal cover and outside the advice we give
Life Insurance
Would the people who rely on you manage the loans and everyday costs if you were no longer here?
Your beneficiaries can receive a lump sum to help with any loans and the household’s everyday costs.
We’ll work out a life cover amount with you from any debts and the people who rely on your income.
Life insurance can pay a lump sum to your beneficiaries if you pass away, and terminal illness cover may come with it. Insurers usually ask about your age and job when you apply. For any cover in super, the payment can go only to eligible people or your estate, so any nomination is worth reading with you.
What we total and read with you for life cover:
- A buy-in loan, any home borrowing and any personal guarantee to a lender, set out to size a lump sum
- Pharmacy ownership rules, which may stop family members keeping any share you hold, confirmed by a solicitor
- A lump sum for any remaining pharmacist partners to buy a share you hold, under an agreement a solicitor drafts
- Life insurance in intern-year or early-career funds, if any holds it, read policy by policy, since each one’s terms decide what it pays
- Any wholesaler account or lease you’ve personally backed, added to what a lump sum may need to clear
- Whether an early terminal illness payout could help clear any buy-in or home loan, where a policy offers it and the insurer accepts the claim
- Any cover bought outside super during an earlier pharmacy job, read on its own terms before a replacement is compared
- Life cover looked at again on a step up to pharmacist in charge or a buy-in
TPD Insurance
Which plans would still go ahead if you could never work in pharmacy again?
A TPD lump sum, paid when the insurer accepts a claim under the policy’s definition, can go towards debts and longer plans.
We’ll read each TPD definition with you against dispensing work and the other roles a pharmacy degree could suit.
A TPD policy can pay a lump sum if illness or injury leaves you unable to work again, as the policy defines it. Moneysmart describes own occupation as being unable to work again in the job you were working in before your disability, and any occupation as any job suited to your education, training or experience. Own occupation is usually only available outside super, and which definitions are offered can depend on the occupation.
What we weigh with you in a TPD policy:
- Being unable to work as a pharmacist, compared with being unable to do any job your education and experience suit
- Industry, regulatory or teaching roles, which an any occupation definition may look at for someone with a pharmacy degree
- A fund’s TPD definition compared with any personal policy, so the trade-off is clear before any switch
- How a policy lists your job if you move to part-time hours or into a non-dispensing role
- A TPD payment sized to clear any buy-in loan and home borrowing, with the amount revisited as balances fall
- TPD cover funding a buy-sell agreement between pharmacist partners, drafted by a solicitor, if one partner can never work again
- One sum insured shared by life and TPD, so a TPD payment may reduce what remains
- How a lump sum released from a fund is taxed, which partly turns on age, for an accountant to confirm
Trauma Insurance
Once a serious illness is diagnosed, how might costs be met while you step back from the pharmacy?
Lump sum trauma cover can help with costs and time away when a listed condition meets the policy’s definition and isn’t excluded.
We’ll go over each condition a trauma policy lists with you, and how a lump sum works alongside income protection.
Trauma insurance can pay a lump sum if you’re diagnosed with a condition the policy lists, where it meets the policy’s definition and isn’t excluded. Moneysmart notes that 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.
What we look at with you in a trauma policy:
- Clinical definitions a trauma contract uses, set side by side from several insurers
- Milder, early forms of a covered illness, and any smaller benefit some contracts pay for them
- A relief pharmacist for any dispensary you own, which a trauma lump sum could help pay for while you’re away
- Household rent or mortgage repayments while waiting for any monthly income cover, which a trauma lump sum could help with
- A combined trauma and life contract, where paying one benefit may shrink the other
- A new trauma policy paid for outside super, with any tax question for an accountant if a pharmacy entity covers the premiums
- Trauma terms on any older contract, set beside what newer contracts include before switching
- Trauma cover for each co-owner, sized to what the partnership would carry while one pharmacist steps away
Cover in Super
Does any super you hold include cover that fits the work you do now?
Reading each fund’s insurance terms together shows what any cover provides before you decide what to change.
We can read any cover in your super with you and set out changes in a financial plan, or Statement of Advice.
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. If you’re a younger new member or your balance is low, cover may not start automatically unless you ask for it. Own occupation TPD is usually only available outside super.
What we check in each super account with you:
- Any funds joined during an intern year or through hospital and community pharmacy jobs, listed with any cover before combining
- An intern’s first fund, where insurance for a younger new member may only begin once you request it
- Whether each fund’s record of your job still matches your pharmacy duties, including after a move from intern, community or hospital work
- Cover through a hospital employer’s fund set beside a community pharmacy fund, if you work across both sectors
- A buy-in loan or mortgage measured against any default amount, which comes from a fund’s insurance terms rather than from your debts
- Insurance costs that keep coming out of an account through locum gaps or part-time years, when less goes in
- Starting locum work on an ABN, and the Moneysmart check on whether that move changes any insurance through super
- Any fund left behind at an earlier pharmacy job, its insurance weighed against cover elsewhere before you close it
Locum and Consultant Work
As locum or review work grows, how can cover keep pace with the way you’re paid?
Matching cover to how you’re engaged, casual through an agency or contracting on an ABN, can help it fit your work.
We can map cover with you to each way you’re engaged, whether locum shifts, review work or both.
Self-employed people don’t get paid sick leave, and Moneysmart suggests checking whether going self-employed affects any insurance through your super. On a contract, a business may have to pay super if you’re paid mainly for your labour. The ATO’s other two tests are that you’re paid for your personal labour and skills rather than for a result, and that the work can’t be delegated. Through a company, trust or partnership, the business doesn’t pay super for whoever that entity employs.
What we work through with you on locum and review work:
- Casual locum work through an agency compared with an ABN contract, and what each means for paid leave
- The three ATO tests for contractors, and how contracting through a company or trust changes who pays super
- Super contributions you plan yourself where no business pays super for your locum or review work
- Locum income earned in blocks, with quiet weeks in between, across the 12 months before any illness or injury
- Financial statements and tax returns from ABN work, kept ready as income evidence for an application or claim
- Travel to regional or remote locum blocks, noted alongside your duties when you apply for cover
- Home medicine review visits and the extra duties they add, described accurately on an application
- Any workers compensation question as a contractor, which the relevant scheme or a lawyer answers, since schemes generally cover employees
Owning or Buying Into a Pharmacy
Who would carry a pharmacy’s running costs, and your share of them, if you couldn’t work for a while?
Two separate covers can help: business expenses cover for eligible pharmacy costs, income protection for part of your own pay.
Together, we’ll set business expenses cover beside income protection for your own pay, and look at cover for any buy-sell agreement.
Some policies offer business expenses cover, which can pay eligible business costs while you can’t work because of illness or injury, and generally excludes your own pay. State and territory laws restrict who can own or hold an interest in a pharmacy, and the rules differ, so a solicitor confirms your position and drafts any agreement, and an accountant advises on the structure. Any business insurance the pharmacy holds is a matter for a general insurer or broker.
What we look at with you as an owner or buyer:
- Rent, staff wages and equipment leases, checked against the eligible costs a business expenses policy defines
- Your own pay, which business expenses cover generally excludes, planned through income protection as a separate cover
- An owner’s income, which an insurer may work out from their share of the pharmacy’s business profits
- Ownership rules that may count partners and trust beneficiaries as holding an interest, confirmed for you by a solicitor
- Life and TPD cover to fund a buy-sell agreement between pharmacist partners, with a solicitor drafting the agreement
- Key person cover, where the pharmacy depends on one pharmacist’s hours to meet its running costs
- Whether an executor or administrator could apply for permission to keep supplying PBS medicines, confirmed for you by a solicitor
- Cover reviewed at a buy-in, a move to new premises or the sale of your share
Making a Claim
If you ever need to claim, who stays with you through each step?
Each step of a claim can feel clearer with a financial adviser lodging it with you and following up the insurer.
We’ll lodge any claim with you, gather the records it needs and keep in touch with the insurer while it decides.
Moneysmart suggests that if you bought cover through a financial adviser, you speak to them first. An insurer can ask for medical reports, details of your work duties, including physical requirements, and the number of hours you work each week, along with payslips and tax returns, or financial statements if you’re self-employed. The insurer assesses the claim, and a complaint goes first to the insurer or, for cover in super, the fund, then to AFCA if it isn’t resolved.
What we prepare with you for an insurer:
- Bench tasks, standing time and how many hours a normal dispensing week ran before you stopped work
- Payslips showing penalty rates, or the letter setting out an annualised wage, as income evidence
- Locum invoices, tax returns or the pharmacy’s business accounts, when an insurer asks about self-employed income
- Any limits on your dispensing, counselling or medication review duties as your GP records them, which an insurer reads with your consent
- A claim on cover in two or more funds, each trustee deciding alongside its insurer
- Claims for a pharmacy’s fixed costs and for your own income lodged together, where both covers are held
- Harm suffered at work, with the compensation scheme handling that side and any insurance claim lodged with you
- Any progress forms the insurer sends while you’re back on reduced dispensary days, filled in with you
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
- Your duties: Insurers usually ask about your job when you apply. Dispensing, counselling patients, any vaccinations or compounding, and any ward or medication review work are worth describing accurately, so an application reflects the pharmacy work you do.
- Your hours and days: Your usual days and weekly hours are part of the picture, including any part-time pattern or work split across two pharmacies. Some policies only cover you if you work a minimum number of hours each week.
- How you’re paid: Award pay with penalty rates, an annualised wage, locum rates and a share of business profits can each look different on paper. Income protection is usually based on the 12 months before an illness or injury, and the policy’s definition of income decides what counts.
- A degree that suits other work: Own occupation TPD looks at your usual job, while any occupation looks at work suited to your education, training or experience, and a pharmacy degree can suit roles away from the dispensary. Which definitions are offered can depend on the occupation.
- A new role: Moving from intern to pharmacist, up to pharmacist in charge or manager, between community and hospital work, or into a non-dispensing role can change your duties and pay. Some policies allow increases after set events, with the insurer assessing the change.
- Going locum or taking on review work: Locum work as a casual or on an ABN comes without paid sick leave, and Moneysmart suggests checking whether a move to self-employment affects any insurance through your super. On an ABN, income is shown in tax returns or financial statements.
- Buying into or owning a pharmacy: A buy-in can bring new loans and fixed costs. Income protection can pay part of your own income, while business expenses cover, offered by some policies, is a separate option for eligible costs. Laws limiting who can own a pharmacy also limit who can take over a partner’s share, which is why a buy-sell agreement and its funding are worth planning.
- Time away and coming back: Parental leave or a career break can fall inside the 12 months an income protection benefit looks at, and fewer days on your return can change your weekly hours. Paid sick leave doesn’t build up during unpaid parental leave.
This list isn’t complete, and no single point decides anything. We start by learning how and where you work, and the insurer makes any decision on cover.
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 Pharmacy Work, Worked Through Together
Pharmacy Duties Set Out
Dispensing, counselling and any vaccination, compounding or medication review work described in full on any application.
Penalty and Annualised Pay Read
Any penalty rates or annualised wage compared with how each income protection policy defines income.
TPD Definitions Compared
Own and any occupation wording read with you against pharmacy work and the other roles a pharmacy degree suits.
Locum Income Evidenced
Tax returns, financial statements and agency payslips from locum or review work set out for an insurer.
Super Cover Mapped Before a Move
Any cover in each fund read with you before you change employer, move sector or start work on an ABN.
Business Costs and Your Pay Separated
Business expenses cover and income protection weighed as two separate needs, if you own or share a pharmacy.
Partner Buy-Sell Cover Planned
Life and TPD cover looked at for a buy-sell agreement between pharmacist partners, which a solicitor drafts.
Claim Paperwork Gathered With You
A claim lodged with you, the records collected together and the insurer followed up while it assesses.
Proactive, Holistic, and Experienced Financial Planning
We begin by listening: to the work you do, how your pay is made up and what you’d want any cover to do for you and anyone who relies on you. Each type of cover is explained plainly, with the terms that matter pointed out along the way. Ask anything as it comes up. We work at your pace, put our recommendations in writing and leave every decision with you.
The paperwork is something we handle together. With your consent, we can request details from any fund that holds cover for you, gather the payslips, invoices or accounts an application needs, and follow up with the insurer while it assesses. A partner, family member or business partner is welcome to join any conversation. If a claim is ever needed, we lodge it with you, keep the records in order and keep you updated until the insurer decides.
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 Pharmacists
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 pharmacy work, your family, work, income, assets and goals. Then we recommend the types and amounts of cover that suit your life.
An insurer looks at the work behind an application. For a pharmacist, that can include dispensing and any clinical or review duties, pay built on penalty rates, an annualised wage, locum blocks or business profits, and any pharmacy you own or part-own. Each can change how a policy pays, so we work through them with you.
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.
Through its definition of income. Income protection is usually based on your earnings in the 12 months before an illness or injury, and each policy sets out which parts of your pay count. An annualised wage can fold penalty rates, overtime and leave loading into one figure, so the wording matters.
Useful evidence includes payslips and any letter from your employer itemising what the salary replaces. Questions about whether the salary matches what an award would have paid go to payroll or the Fair Work Ombudsman. We can compare how policies define income with you before you apply.
Blocks of work with gaps between them all feed into the earnings figure, and income protection usually looks at the 12 months before an illness or injury. A quieter stretch inside that window can change the figure, depending on how the policy defines income.
On an ABN, income is usually shown through financial statements and tax returns. Casual or contracted, locum work generally comes without paid sick leave, so the length of a waiting period is worth weighing against any savings you could draw on. We can set out your locum income with you and compare waiting periods before you apply.
Buying online can be quick, and you’ll generally receive general advice only, which doesn’t consider your circumstances. A direct insurer shows its own policies, while a comparison site may show more side by side.
Advice starts with how you work and are paid. We compare how each policy defines income against penalty rates, an annualised wage or locum blocks, read own and any occupation wording for pharmacy work, weigh cover inside and outside super, and prepare the application with you. The insurer still decides whether to offer cover and on what terms.
The difference is the test a claim is measured against. Moneysmart describes own occupation as being unable to work again in the job you were working in before your disability. Any occupation is wider: any job suited to your education, training or experience, which for a pharmacy degree may include industry, regulatory or teaching roles.
Own occupation TPD is usually only available outside super, and some insurers offer it to certain occupations and not others. Which wording you’re offered is the insurer’s decision. We can compare the definitions with you against the pharmacy work you do.
A buy-in can bring a business loan, any personal guarantee and a share of fixed costs such as rent and wages. Life and TPD cover may be worth sizing against the new debts. Income protection can pay only part of your own income, while business expenses cover, offered by some policies, is a separate option for eligible pharmacy costs.
If you buy in with other pharmacists, life and TPD cover can fund a buy-sell agreement, which a solicitor drafts. A solicitor also confirms whether the ownership rules allow the structure you have in mind. We can review any cover you hold with you before you sign.
It depends on any partnership agreement or will, and on the ownership laws where the pharmacy is, which limit who can own or hold an interest. A share may not pass to a non-pharmacist family member to run. If the owner was the pharmacist approved to supply PBS medicines at the premises, an executor or administrator may apply for permission to continue. Permission isn’t automatic and depends on state or territory law, and any partnership agreement dealing with the business comes first.
Life cover can be sized for the household. It can also help fund any buy-sell agreement between pharmacist partners, which a solicitor drafts, as can TPD cover if a partner meets its definition. A solicitor confirms your position, and we can look at the cover with you.
Moving sector can change your employer, your super fund, your duties and how you’re paid. Any cover in an old fund is worth reading before you roll it over or close the account, and a new fund may hold cover of its own, so the two are worth comparing before you combine anything.
The occupation a fund or insurer has on record is worth updating if your duties change. A policy you hold personally outside super has its own wording, which sets when its terms can change, and any cover arranged through an employer is worth reading before you leave. We can look at each fund’s cover with you before the move.
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.
We’re a national service, so you can meet with us by phone or video from anywhere in Australia. We also have offices in three cities:
- Sydney: offices in Sydney CBD, Parramatta, Seven Hills, Ingleburn and Narellan, servicing areas including the City of Sydney, Eastern Suburbs, Inner West, North Shore, Northern Beaches, Sutherland Shire, Blacktown, Liverpool, Campbelltown and all surrounding suburbs.
- Melbourne: our St Kilda Road office, servicing areas including the City of Melbourne, Port Phillip, Boroondara, Monash, Casey, Wyndham and all surrounding suburbs.
- Brisbane: our Eagle Street office, servicing areas including Brisbane City, Moreton Bay, Ipswich, Logan, the Gold Coast, the Sunshine Coast and all surrounding suburbs.
Yes. Intern, locum or owner, the conversation starts with the pharmacy work you do and how your pay arrives.
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. Handy paperwork includes fund statements, an annualised wage letter, locum invoices, business accounts and any buy-in terms. Health details can wait until later, and we’ll agree where to begin together.
Reviews
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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