are you insured warningYou look after your client’s investment, but what about your own greatest asset – yourself?

As one of the 109,930 people across Australia employed in real estate services[1], you know what it takes to be successful – licensing and accreditation, understanding the legalities of property ownership, lots of paperwork, marketing expertise, empathy, market insights, negotiation, duty of care, top-notch communication skills, humour, tenacity and determination.

And with 76 per cent being employees and 24 per cent business owners, you know the value in protecting yourself and your business with all the right insurances. OfficeCover, professional indemnity, public liability, vehicle, landlords… you’ve got it covered.

Or do you?

Have you thought about how you would manage financially if you weren’t able to work? Or how your family would maintain their lifestyle if you weren’t around to provide for them?

People often see the value in insuring their personal and business assets in case of misfortune, and wouldn’t dream of failing to protect their home and contents, car, business premises, liability etc. However, they often neglect to protect themselves with personal insurances like life insurance, accident cover or income protection.

As a real estate professional, what personal insurances would you need and when?

Young and Single

  • 24,144 people working in RE are in their 20s[i]
  • 83% have never married[i]
  • 3% of males and 20% of females work in admin[i]
  • $50K average income for 20-29 year-olds[i]

Your life: You’re living for the moment and enjoying new experiences without too many responsibilities.

Your finances: You’re finding your feet in the working world and budget to pay for what’s most important to you.

Why do you need insurance? As you carve out your career, chances are you’ve probably accumulated some assets and a bit of debt along the way – like your car, student loans and credit cards. How would you continue to pay your debts and live the lifestyle if suddenly you were without an income?

What insurances: Income protection and accident cover.

Young Couple

  • 96% are married[i]
  • 24,823 agents are aged 30-39[i]
  • 30% of males and females work in sales[i]
  • $62K average income for 20-39 year-olds[i]

Your life: You’re part of a team, building a life and working together to achieve common goals.

Your finances: You’re settling into your career and might be thinking about buying a house, getting married, or starting a family.

Why do you need insurance? You’re starting to settle down and look towards the future. Your responsibilities are geared towards each other and you may share increasing financial obligations as you accomplish goals together. If something happened to either one of you, how would you both cope if you were suddenly forced to live off one income?

What insurances: Life, accident and income protection insurances.

Young Family

  • 10% of males and 8% of females work in management[i]
  • 26% of females and 15% of males work 35 to 40 hours a week[i]
  • 17% of females and 6% of males work part-time[i]
  • 83% of females and 14.97% of males care for children[i]
  • $75K average income for 30-somethings[i]

Your life: When you have young children, your insurance needs reach a climax. In most situations, insurance for both parents can be appropriate. Your instinct is to care, nurture and protect those you love.

Your finances: Money may be a little tight with everyday expenses like children’s school fees, mortgage/rent, credit cards, food and utility bills.

Why do you need insurance? You both work hard to provide a lifestyle for your children, to make sure they are protected and healthy. Between the challenge of paying down the mortgage and keeping the household running, money may be a little tight as everyday expenses increase. What would happen if life took an unexpected turn and you were no longer around?

What insurances: Life, accident and income protection insurances.

Mature Family

  • 24,486 agents are in their 40s[i]
  • 15% of males and 9% of females are business owners[i]
  • 7% of females and 15% of males work more than 49 hours a week[i]
  • $80K average income for 40-59 year-olds[i]

Your life: With children getting older and your career more secure, your household income starts to peak and child-rearing responsibilities start to ease.

Your finances: You’re starting to reach the peak of your earning potential and your financial responsibilities may be easing.

Why do you need insurance? You have worked hard over the years getting to where you are now, growing your family and also your lifestyle. While you may feel your wealth is more secure at this time, it is still important that you continue to protect and secure it.

What insurances: Life, accident and income protection insurances.

Empty Nesters

  • 60-89 year-olds earn an average of around $77K a year[i]
  • 75% are divorced and 3.33% are separated[i]

Your life: Once you retire, and your priorities shift, your insurance needs may change.

Your finances: It’s likely you’ll have a bit more cash at your disposal as financial pressure eases.

Why do you need insurance? If fewer people are depending on you financially, your mortgage and other debts have been repaid, and you may have substantial financial assets, you may need less insurance protection than before. But it’s also possible that your need for insurance will remain strong even after you retire. If something were to happen to you, do you ever wonder how it would impact your nest egg and the future? Let alone your partner and plans to ease into retirement.

What insurances: Life insurance and accident cover.

EBM has partnered with AIA Australia, one of Australia’s leading life insurers, to offer MaxLife life insurance – a new personal insurance product which delivers a range of cover options to help ensure your lifestyle, assets and loved ones are protected. Visit  or call 1800 660 137 to find out more.

The MaxLife suite of products is issued by AIA Australia Limited (ABN 79 004 837 861 AFSL 230043) trading as MaxLife and distributed by Elkington Bishop Molineaux Insurance Brokers Pty Ltd (ABN 31 009 179 640, AFSL 246986) and its representatives. You should consider factors like your objectives, financial situation and needs and read the relevant MaxLife Product Disclosure Statement available at before deciding to acquire or continue to hold a financial product. This information does not take such factors into account, so you should consider the appropriateness of this information in the context of such factors before acting on it. Cover is subject to terms, conditions, limitations and exclusions. AIA Australia has adopted the Life Insurance Code of Practice, which contains minimum standards of service that customers can expect from insurers. The Code can be found at

[i] All figures relating to the RE industry are based on analysis of ABS 2016 Census data by Elite Agent.