Advisers can assist clients in assessing their insurance needs and recommending appropriate policies to protect against financial risks. Insurance is a crucial part of financial planning, as it helps individuals and families protect themselves against unexpected events that can cause financial hardship.

Financial advisers can help clients evaluate their insurance needs by conducting a thorough analysis of their financial situation and risk profile. This analysis may include assessing the client's income, expenses, debts, assets, and liabilities, as well as their exposure to risks such as illness, disability, or death.

Based on this analysis, financial advisers can recommend appropriate insurance policies to help mitigate financial risks. For example, they may recommend life insurance to provide financial support to dependents in the event of the client's death. They may also recommend income protection insurance, which can provide a regular income stream to the client if they become unable to work due to illness or injury.

Other types of insurance that financial advisers may recommend in Australia include health insurance, which can help cover the cost of medical treatment, and home and contents insurance, which can protect against damage to property due to natural disasters or other events.

Financial advisers can also help clients evaluate the cost and benefits of different insurance policies and providers, ensuring that they choose the right coverage at the most affordable price.

Overall, financial advisers play a crucial role in helping clients assess their insurance needs and protect against financial risks. By working with a financial adviser, individuals and families can ensure that they have the right insurance coverage in place to protect themselves and their financial future.