Cory Bennett - Insurance advisor

As a financial adviser, I often get asked: “Who’s the ideal client for insurance?”

The honest answer? Everyone (nearly).

Everyone has risks in their life, and those risks vary from person to person.

For a young professional, it might be ensuring they have income protection so bills are paid if they can’t work due to illness or injury. For a family, it’s about securing the mortgage and the children’s future in case something unexpected happens. For someone later in life, it may focus on protecting their wealth and ensuring their loved ones aren’t left with financial burdens.

Insurance isn’t one-size-fits-all. It revolves around identifying the risks that matter to you and creating a plan to prevent those risks from disrupting your life or your loved ones’ future.

So when people ask who the “perfect” insurance client is, my answer is straightforward: it’s anyone who values peace of mind and wants to protect what matters most to them.

Recently, a client emailed to say they had received a cheaper deal from the bank and they decided to go ahead with them.

I’ll be honest; these situations sting. It’s not just about losing a client. It shows me I didn’t adequately explain the difference between working with a bank and working with an adviser.

Here’s what many people don’t realise:

It’s rarely a fair comparison. Cheaper coverage often means fewer benefits, exclusions, or weaker definitions that only become apparent during a claim.
It’s also highly unlikely they are comparing the same levels of cover as I had completed a full financial analysis of them so my guess is they have suggested less cover.

There’s no ongoing support. With a bank, your policy just sits idle. With an adviser, it gets reviewed as your life changes.

Support during a claim. An 0800 number can’t match having someone advocate for you and your family when you need it most.

So yes, the bank’s offer may seem cheaper (even if it’s not a fair comparison), but in the long run, it could end up costing much more when it truly matters.

In the end, I can’t win everyone over. Some people need to learn through experience. But it’s a good reminder that my job isn’t just about setting up insurance; it’s ensuring clients understand the real value of advice and support.