Protect the people who depend on you with life insurance advice based on your income, debts, dependants, existing assets and the financial support your family may need.
Life insurance can provide a lump sum benefit on death to help the people who depend on you meet debts, ongoing living costs and other financial commitments.
The amount of cover should reflect your circumstances rather than a standard multiple of income. We consider household expenses, debts, dependants, how long financial support may be required, existing assets and any insurance already in place before recommending an amount of cover.
We also consider how the policy should be owned. Depending on your circumstances, life insurance may be held through superannuation, personally outside superannuation or through a combination of both.
Policy ownership can affect premiums, cash flow, tax treatment and how benefits may ultimately be paid. Where legal or estate planning advice is required, we can coordinate with the appropriate professional adviser.
We assess debts, household expenses, dependants, the period financial support may be required, existing assets and other insurance before recommending an amount of cover.
We consider the intended beneficiaries and how the ownership of the policy may affect the payment of benefits. Where superannuation nominations, wills or other estate planning documents are relevant, legal advice may also be required.
Life insurance may be held through superannuation, outside superannuation or through a combination of both. We consider cash flow, premiums, tax considerations and the intended purpose of the cover when advising on ownership.
We review existing life insurance, including cover held through superannuation or an employer, before recommending new cover or changes to an existing policy.
Where new cover is required, we compare relevant policy features, definitions, premiums and underwriting requirements before making a recommendation.
Holding life insurance through superannuation can reduce the immediate impact of premiums on household cash flow because premiums are generally deducted from the superannuation account. Those premiums also reduce the amount remaining invested for retirement.
Personally owned life insurance is generally paid from personal cash flow and can provide a different ownership and beneficiary structure.
For some clients, a combination of cover inside and outside superannuation may be appropriate.
The appropriate structure depends on your circumstances, the purpose of the cover, the policy terms and the applicable superannuation and tax rules. We consider these issues as part of the advice process rather than applying a default ownership structure.
For eligible doctors, lawyers and select professionals, we can also consider insurance arrangements available through a mutual structure.
Through relationships with participating insurers, eligible clients may be able to access insurance through a mutual that can provide a share of profits back to eligible members, subject to the mutual's terms, insurer arrangements and eligibility requirements.
Our advice remains focused on whether the insurance itself is appropriate for your needs. We consider the amount of cover, policy definitions, ownership, premiums and underwriting terms before recommending an insurance solution. Any potential profit share is an additional feature and should not be the primary reason for selecting a policy.
Eligibility, participation and any profit share are not guaranteed and can vary according to the applicable mutual, insurer and arrangement.
You may already hold life insurance through your superannuation, an employer or an existing personal policy.
Before recommending additional cover, we review what you already have, including the amount insured, ownership, premiums and relevant policy terms.
Existing cover should not be replaced simply because a new policy is available. Where a replacement is recommended, the differences between the existing and proposed cover, including underwriting and policy terms, should be understood before any existing policy is cancelled.
Life insurance needs can change as your income, debt, family circumstances, assets and business interests change.
We can review your cover periodically to consider whether the amount insured, ownership and policy structure remain appropriate.
If a claim needs to be made, we can also assist with the claims process, including helping you understand the policy requirements and communicating with the insurer as the claim progresses.
The appropriate amount depends on your circumstances rather than a standard rule of thumb. We consider household expenses, debts, dependants, how long financial support may be required, existing assets and any other insurance already in place before recommending an amount of cover.
It can be appropriate for some clients. Holding life insurance through superannuation can reduce the immediate impact of premiums on household cash flow, but premiums reduce the amount remaining invested for retirement and different rules can apply to the payment of benefits. We consider whether cover should be held inside superannuation, outside it or through a combination of both.
It depends on how the policy is owned. Where life insurance is held through superannuation, the payment of benefits is subject to the superannuation fund's rules and any valid beneficiary nomination. A will does not by itself determine how a superannuation death benefit is paid. Where estate planning or legal advice is required, this should be considered with the appropriate legal professional.
It may be. We review the amount of cover, ownership and relevant policy terms against your circumstances before recommending any changes. Existing cover should be considered before additional or replacement insurance is recommended.
Potentially. The outcome depends on the condition, the insurer and its underwriting requirements. Cover may be offered on standard terms, with a premium loading or exclusion, or may not be available. We can help manage the underwriting process and compare relevant insurer terms.
Yes. We can assist with the claims process, including helping you understand the policy requirements and communicating with the insurer as the claim progresses.
Private Capital Management is based at Level 26, 1 Bligh Street in the Sydney CBD. We meet with clients in person in Sydney and by video across Australia.
Meetings, document collection and insurance applications can generally be completed digitally, allowing us to provide advice and manage the underwriting process regardless of location.
Licensed and Accredited
AFSL 342880
Authorised Representative 1239545
ASIC
Qualified Tax Relevant Provider, Nathan Ide
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Meet with us in person in Sydney or by video to discuss your life insurance needs and how we may be able to help.
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