Home-Based income protection adviser

Employees, tradies, sole traders and small business owners who rely on their own income. The insurer pays your commission, not the client.

Commission from insurers when a policy starts, plus ongoing commission while it stays in force. Some advisers also charge a fee for advice. Income is slow at first and builds as your book of clients grows.

• Explaining complex products in plain language
• Building trust and referrals
• Careful record keeping and paperwork
• Comfortable talking about money and risk

• Personal advice usually requires being authorised under an Australian Financial Services Licence, check with ASIC before giving any advice
• Education, exam, ethics and ongoing training requirements for advisers, confirm what applies to you
• Professional indemnity cover, often arranged through your licensee, check what it includes
• Rules on commissions and clawbacks if a client cancels early, check current insurance reforms
• Privacy obligations and the need to give advice that is genuinely in the client's best interests
• Income can take months to build while you establish a client base

Startup costs are typically estimated at around $3,000 to $15,000, depending on your training, licensee arrangements, insurance and software. Confirm which education and ongoing training requirements apply to you before you spend.

Monthly revenue is typically estimated at around $2,000 to $10,000, depending on your client numbers and the commission you receive. Income can take months to build, and commissions may be clawed back if a client cancels early.

Things to check with ASIC: whether you're authorised under an Australian Financial Services Licence before giving personal advice, adviser education and ethics requirements, professional indemnity cover, commission and clawback rules, and privacy obligations.