Personal Insurance Advice in Melbourne
Protecting your income, family and financial future with personalised insurance advice — as part of your broader financial plan.
Insurance is one of the few financial decisions made almost entirely in the abstract — you are paying for protection against something that, by definition, has not happened yet. That makes it easy to either over-insure out of anxiety, or under-insure because the cost feels hard to justify against an uncertain future. Neither serves you well.
At Amber Wealth in Brighton, we help pre-retirees, retirees, and professionals across Melbourne — including dentists, medical practitioners, and business owners — work out what cover genuinely matches their circumstances: their dependants, their debts, their income, and the financial consequences an illness, injury, or death would actually create for the people who rely on them.
Personal insurance is part of a broader financial planning relationship, not a standalone product purchase. The right level and structure of cover depends on your income, debts, dependants, assets, existing cover, and broader financial objectives. Our advice spans life insurance advice, income protection advice, TPD insurance advice, trauma insurance advice, and insurance through super, each assessed in the context of your full financial position.
Personal Insurance Services
Life Insurance
Protect the people who depend on you with a lump sum paid if you die or are diagnosed with a terminal illness.
Learn about Life Insurance →TPD Insurance
Understand how TPD cover can help protect your financial position if you become permanently unable to work due to illness or injury.
Learn about TPD Insurance →Trauma Insurance
Understand protection designed around specified serious medical events, paid as a lump sum on diagnosis.
Learn about Trauma Insurance →Income Protection
Protect your income with a monthly benefit if illness or injury prevents you from working.
Learn about Income Protection →Insurance Through Super
Understand the insurance cover you may already have through superannuation — and its potential limitations.
Learn about Insurance Through Super →Insurance Review
Review your existing cover and understand potential gaps, duplication, or cover that no longer reflects your circumstances.
Review My Insurance →Why personal insurance deserves more than a default decision
Personal insurance is frequently set once — often through a default policy inside a superannuation fund — and never revisited. That might be adequate at 30, before a mortgage, children, or a growing income. It is rarely still adequate at 50, and the cost of getting it wrong is not paid by you, but by the people who depend on you.
Our approach treats insurance as risk management, not a product purchase: understanding what would actually happen financially if you could not work, or if you were not there, and structuring cover to close that specific gap — no more, and no less.
Which Insurance Do I Actually Need?
The right insurance mix depends on your dependants, debts, income, and the financial consequences an illness, injury, or death would create for the people who rely on you. Most Australians don't need every type of cover — they need the right combination for their stage of life.
Life Insurance
Pays a lump sum to your beneficiaries if you die or are diagnosed with a terminal illness. It matters most when others depend on your income and would struggle financially without it — a mortgage, young children, or a partner who earns less.
TPD Insurance
Pays a lump sum if you become permanently unable to work due to illness or injury. It matters most when your ability to earn income is your biggest asset — which is the case for most working Australians, particularly self-employed people and professionals.
Trauma Insurance
Pays a lump sum on diagnosis of specified serious medical events like cancer, heart attack, or stroke. It can help cover medical costs, time off work, and lifestyle adjustments that other cover doesn't address.
Income Protection
Replaces a portion of your income (typically up to 70%) if illness or injury prevents you from working. For most working Australians, their income is their most valuable asset — and income protection is the cover that most directly protects it.
Many Australians already have some cover through their super fund. Insurance through super can be convenient and cost-effective, but it's important to understand the terms and whether the cover is adequate for your circumstances.
An insurance review can help you understand what you already have, what gaps remain, and whether you're paying for cover you no longer need — so the answer to "which insurance do I need?" is based on your actual situation, not a default policy set years ago.
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Personal insurance as part of your wider financial plan
Insurance decisions rarely stand alone. The right level of cover depends on your superannuation position, your investment portfolio, and your broader retirement planning timeline — and where cover sits (inside or outside super) has direct consequences for your retirement savings and tax position.
This is why personal insurance advice at Amber Wealth is given with visibility of your complete financial picture, not as an isolated recommendation disconnected from your retirement planning, superannuation strategy, and estate planning intentions.
Why clients trust Amber Wealth with personal insurance advice
Adam Sobczak works across multiple insurers to compare terms and find the most favourable outcome for each client's circumstances — including for clients with pre-existing medical conditions, where the difference between insurers can be substantial. Rather than defaulting to a single insurer's standard offering, every recommendation reflects genuine comparison against your specific situation.
Based in Brighton and working with clients across Melbourne, Amber Wealth operates as a Corporate Authorised Representative of Lifespan Financial Planning Pty Ltd, AFSL 229892 — providing the accountability of a licensed advice framework alongside the personal attention of a boutique practice.
Personal insurance advice across Melbourne
Amber Wealth is based in Brighton and works with clients across Melbourne and surrounding areas. Personal insurance advice is provided as part of a broader financial planning relationship, not as a standalone product sale.
Consultations are available in person at our Brighton or Melbourne CBD offices, or by video for clients across greater Melbourne and Victoria. The appropriate level and structure of cover depends on your income, debts, dependants, assets, existing cover, and broader financial objectives — wherever in Melbourne you are based.
Frequently Asked Insurance Questions
What types of personal insurance you need depends on your dependants, debts, income, and the financial consequences of illness, injury, or death for the people who rely on you. The four main types of personal insurance are life insurance (pays your beneficiaries if you die), TPD (pays a lump sum if you are permanently unable to work), income protection (replaces a portion of your income if you cannot work), and trauma insurance (pays a lump sum on diagnosis of a specified serious illness). Not everyone needs all four; the right combination depends on your stage of life, financial obligations, and risk tolerance. A useful starting point is to consider what would happen financially if you could not work, or if you were not there, and what gap that would create. A financial adviser can assess your circumstances and help you determine which types and levels of cover are appropriate for you.
Related: Personal Insurance · Insurance Review
How much life insurance cover you should have depends on your debts, dependants, income, and the financial consequences your death would create for the people who rely on you. A common approach is to calculate enough cover to clear your debts (mortgage, personal loans, credit cards), replace your income for a period that allows your family to adjust (often until children are independent), and fund future goals such as education. The right figure is specific to your family and obligations, not a generic industry multiple. Too little cover leaves your family exposed; too much means paying premiums for cover you may not need. Many Australians hold default life insurance through their superannuation fund, which is often a standard multiple of salary that may not reflect your actual needs. A financial adviser can calculate an appropriate level of cover based on your actual debts, income, and family circumstances.
Related: Personal Insurance · Get a Personalised Quote
Whether you need income protection insurance depends on your income, whether you have dependants or debts, how long you could sustain your lifestyle without your income, and whether you have other support such as savings, sick leave, or a partner's income. For most working Australians, particularly those with a mortgage or family, the loss of income due to illness or injury would create significant financial stress within a relatively short period. Income protection is designed to replace a portion of your income (typically up to 75%) if you cannot work due to illness or injury, providing a regular monthly benefit to help cover your expenses. If you have substantial savings, no debts, and no dependants, your need may be lower. A financial adviser can assess your circumstances and help you determine whether income protection is appropriate for you.
Related: Personal Insurance · Insurance Review
TPD (Total and Permanent Disability) insurance and income protection insurance cover different events and pay benefits in different ways. TPD pays a lump sum if you become permanently unable to work due to illness or injury, which can be used to pay off debts, cover medical and rehabilitation costs, and provide for ongoing living expenses. Income protection pays a regular monthly benefit (typically up to 75% of your income) if you cannot work due to illness or injury, for a defined period. The key difference is that TPD requires permanent disability and pays a lump sum, while income protection can cover temporary illness or injury and pays an ongoing monthly benefit. Many people benefit from having both, as they cover different risks. A financial adviser can help you determine which types and levels of cover are appropriate for your circumstances.
Related: Personal Insurance
Yes, insurance inside super is different from insurance outside super in several important ways. Insurance inside super can be cost-effective because premiums are paid from your super balance (not your take-home pay) and group buying power may deliver lower rates. However, default in-super cover is often group cover with standard sums insured and narrower definitions (such as an 'any occupation' definition for income protection), and the premiums reduce your retirement savings over time. Insurance outside super (standalone) is paid from your after-tax income but typically offers more comprehensive definitions (such as 'own occupation' for income protection), more features, and does not erode your super balance. For some Australians, a combination — some cover inside super, some outside — provides the right balance of cost and quality. A financial adviser can compare the options and help you determine the most appropriate structure for your circumstances.
Related: Personal Insurance · Superannuation & SMSF Advice
Yes, you should review your insurance before retirement, because your insurance needs typically change significantly as you approach this stage of life. As your debts reduce (particularly your mortgage) and your dependants become independent, your need for life insurance and TPD may decrease. Conversely, if you are still building wealth or have ongoing financial obligations, your cover may still be necessary. Income protection may become less relevant if you are no longer relying on a salary, but could still matter if you transition to retirement gradually. Reviewing your cover before retirement ensures you are not paying for insurance you no longer need, while also confirming that the cover you do retain is still appropriate. A financial adviser can review your current cover against your changing circumstances and recommend whether adjustments are warranted.
Related: Personal Insurance · Insurance Review
What happens to your insurance when you retire depends on the type of cover, whether it is held inside or outside super, and the policy terms. Life and TPD insurance can generally continue after retirement, but your need for them may decrease as your debts reduce and dependants become independent. Income protection is designed to replace employment income, so it may become less relevant or cease if you are no longer working, depending on the policy definition. Insurance held inside super may be affected when you move your super to an account-based pension or withdraw it, and some funds automatically cancel cover when you start a pension. Premiums paid from your super balance will continue to reduce your retirement savings. A financial adviser can review your cover, explain what happens when you retire, and help you decide whether to retain, reduce, or cancel specific policies.
Related: Personal Insurance · Retirement Planning
Whether you are paying too much for your insurance depends on the type and level of cover you hold, the premiums you pay, and whether the cover still suits your circumstances. Insurance premiums vary between insurers, and the same level of cover can cost significantly different amounts depending on the provider, your age, your health, and the policy features. Stepped premiums (which increase as you age) can become expensive over time, while level premiums start higher but remain more stable. It is also worth considering whether you are paying for cover you no longer need — for example, if your debts have reduced or your dependants are now independent. A financial adviser can review your current premiums, compare them against alternatives across the market, and assess whether your cover and cost are still appropriate for your circumstances.
Related: Personal Insurance · Insurance Review
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Not sure whether your current cover is right for you?
Request an Insurance ReviewAdam Sobczak is the Director & Senior Financial Planner at Amber Wealth, a boutique financial advisory practice in Brighton, Melbourne. Adam is a licensed financial adviser on the ASIC Financial Advisers Register (Authorised Representative Number 1234769).
Adam holds a Diploma and Advanced Diploma of Financial Planning, is a member of the Financial Advice Association of Australia (FAAA), and has completed CFP Certification Program units (CFP1 & CFP4) through the FAAA.
Insurance advice considers your broader circumstances, not a policy in isolation. Explore our insurance guide, financial planning and retirement planning, or speak with Amber Wealth.
These guides provide general information, not a personal recommendation. Cover, eligibility and claims depend on the policy terms. Read the PDS and your policy schedule before deciding to acquire, vary or replace cover.
Amber Wealth is a Corporate Authorised Representative (CAR 1310815) of Lifespan Financial Planning Pty Ltd, ABN 23 065 921 735, AFSL 229892.
Not sure whether your current insurance still fits?
Existing cover is often set once and never revisited. Incomes change, debts change, families change, and policies written years ago may not reflect any of it.