Protecting your clients' wealth through different life stages

As a financial adviser, you know that building wealth is only part of the equation. Protecting it is just as important. Life insurance plays a critical role in safeguarding your clients’ financial strategies, ensuring their goals remain achievable no matter what life throws their way.
 

Here’s how life insurance can support your clients across different life stages - and why regular reviews are essential.

When clients are just beginning their financial journey, they often have minimal responsibilities but significant potential for growth. This is the perfect time to introduce them to income protection and basic life insurance. 
 

The benefit of accessing life insurance when younger is that we tend to be healthier, therefore locking in more favourable terms and establish a safety net against unexpected events such as illness or injury.

As clients progress through life, major milestones like marriage, starting a family, and purchasing a home bring new financial responsibilities. Life insurance becomes essential to protect their loved ones and secure their growing assets. 

For newlyweds, it may help provide financial support for their partner in case of unforeseen circumstances. When children enter the picture, life insurance provides peace of mind that their future - education costs and living expenses - is protected.
 

Buying property often introduces significant debt, making mortgage protection a priority. At this stage, clients should also consider expanding their coverage to include critical illness or total permanent disability (TPD) insurance to safeguard against health-related disruptions. Encourage them to review their policies after major life events like the birth of a child or taking on a new mortgage.

As retirement approaches, your clients’ focus shifts from wealth creation to preservation. Life insurance helps cover end-of-life expenses, supports surviving spouses, and facilitates smooth asset transfer through estate planning. Encourage clients to review their policies during retirement planning adjustments or if health changes impact premiums or coverage needs.

Together, we can empower more Australians to achieve financial stability and security, aligning with our shared values of supporting healthier, longer, better lives.

Life changes quickly, and so do your clients’ financial needs. Regular reviews of life insurance policies ensure coverage remains relevant and adequate as circumstances evolve. Key triggers for review include major milestones like marriage, starting a family, buying property, business growth, divorce, or retirement planning shifts.
 

By helping your clients align their life insurance with each stage of life, you’re not only protecting their investments but also securing peace of mind for them and their families. 
 

If you’d like more information about tailored life insurance solutions for your clients, contact an AIA Australia Client Development Manager or email tece@aia.com for expert advice on product strategies.