Cancer claim a chance to forge relationship with client
Financial adviser Tim Fairbrother, of RIVAL Wealth, says a recent claim made by a client who had a cancer diagnosis shows how insurance can take the pressure off in a tough time.
Tuesday, May 6th 2025, 9:04AM
Financial adviser Tim Fairbrother, of RIVAL Wealth, says a recent claim made by a client who had a cancer diagnosis shows how insurance can take the pressure off in a tough time.
He said the client, who had a young family, had not had a relationship with her RIVAL insurance adviser, until she went to claim.
“She was a client that we've taken over from someone else some years ago, and had no relationship with them – this person was extremely frightened about what the outcome was going to be.”
But when she spoke to RIVAL adviser Tash Field about her cancer diagnosis, it was a turning point for her, Fairbrother said.
Field was able to talk through the claim, what would happen and what the family could be able to access in terms of financial support from their insurer.
“Thanks to Tash’s extraordinary empathy and coaching, touching base daily for the first week to explain the claims process, the client now feels more empowered and hopeful, her mindset has transformed from one of uncertainty, to one of hope, all because of the genuine support she has received,” Fairbrother said.
“While the outcome is unknown, the client moves forward with money in their pocket, but more importantly, has an advocate to lean on through one of life's hardest journeys.”
He said, unlike many general insurance claims, life and trauma claims were often made in times where there were a lot of emotional pressure. The insurance cover could allow people to focus on what mattered.
“Life and trauma cover generally is not a good outcome in terms of emotional stuff but a whole lot of money has been created to then be able to let the people who are surviving and that are there live on through the future.”
He said the woman had life cover, her partner had income protection cover that could help, and they had trauma cover.
“It’s a very scary time when you’re young, when you’ve got young children and you have the pressure of having people depending on you. The thoughts that run through your head of now having this cancer in your body… that must be a hugely emotional time to be able to try and deal with.
“The strength that that would take, it would be phenomenal to be able to be able to overcome that.
“I think then the role of the adviser becomes so important …with risk insurance that’s the piece we ultimately are here for, to give those outcomes which are going to be more positive… getting rid of the financial fear of knowing your family is going to be okay,” he said.
Fairbrother said advisers could also provide an outside perspective to help people mentally, too.
“The other part is the coaching bit to say them ‘you need to be there for your family, try to rise above this to have that positive attitude to know you’re going to beat this thing, this is not an end game, it’s a step in a journey’.”
Fairbrother said the client had been the primary carer for the family’s children but the insurance would enable her partner to reduce his workload to take over some of that, as well as helping her travel when she needed to.
He said, with dependent relative cover on income protection, the amount paid was often significantly lower than if the person who took the cover was ill, but it was a backstop in case the partner had to stop working.
Having life cover also meant that they knew he would be able to pay the mortgage to focus on the children, if the worst were to happen.
Fairbrother said the situation was a reminder that claims were a “big opportunity”.
“You want to make sure you give them the best help and service at a stressful time, with what does the claim look like, the financial coaching, the mindset coaching to keep going - the adviser has an opportunity to make a really big impact.”
He said often advisers would contact clients about an insurance review and people would say they wanted to leave it a year.
“Suddenly when the claim is happening, insurance is the most important thing they have in their lives. The message for the adviser is it’s important to engage with clients and make the most of it, helping them – it’s where you get your biggest advocates.”
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