Life insurance is personal. I believe the advice should be too.

Why life insurance matters to me

Over the years, I've seen life insurance from just about every angle. I've helped build and run insurance businesses, been involved in developing products, and worked closely with financial advisers and the people responsible for looking after clients.

But some of the experiences that have stayed with me most have had nothing to do with running a business.

When I was working in Hong Kong, I was involved, through my company, in the aftermath of two tragic incidents in which people lost their lives unexpectedly. I won't go into the details, but both experiences brought home to me just how important life insurance can be.

When someone dies suddenly, particularly when they leave a young family behind, the emotional impact is devastating. And sadly, the financial consequences can make an already terrible situation much worse.

We've all seen the crowdfunding appeals that appear after these tragedies. Families suddenly find themselves relying on the generosity of friends, relatives and sometimes complete strangers to help them through an incredibly difficult time.

I find that desperately sad, particularly when some relatively straightforward financial planning could have made such a difference.

Fortunately, I've also seen the other side of the story.

There are few things more satisfying in financial services than knowing that a life insurance policy has resulted in a substantial cheque being paid to a bereaved family, giving them some financial security when they need it most.

Of course, no amount of money can bring back someone you love. But it can help pay the mortgage, provide for the children's education, meet everyday expenses and give a family time to adjust without having to worry immediately about how they're going to manage financially.

That's what life insurance is really about. And it's why I remain so passionate about it.

A little about my background

I started work with Lloyds Bank back in 1981, initially in the UK, before moving into international banking. That took me to the Isle of Man, Hong Kong and Guernsey, where I worked in a variety of roles, including private banking.

In 2000, I joined Zurich Life, beginning what turned out to be more than 15 years in the international life insurance business.

During that time, I helped establish and run Zurich's life insurance operation in Singapore, before returning to Hong Kong, where I eventually became Chief Distribution Officer and Chief Propositions Officer.

I was also closely involved in the wider insurance industry, including serving as Chairman of the Hong Kong Federation of Insurers' Life Insurance Council.

Since leaving Zurich, I've continued working in international insurance, including consultancy work and, more recently, representing Manhattan Trust International Insurer in the Asia-Pacific region.

Now, you might reasonably ask why any of that matters when you're simply looking for life insurance.

The answer is that I've spent much of my working life understanding how insurance works, not just how it's sold.

I've been involved in developing products, managing insurance businesses, dealing with regulatory requirements and working with the people who advise clients.

That experience has given me a thorough understanding of what goes into a life insurance policy, why different types of cover suit different circumstances, and why getting the details right can be so important.

And I'd much rather put that knowledge to work helping individuals make informed decisions than simply sell someone a policy.

It's about more than price

One thing that has always frustrated me is the tendency to treat life insurance as just another commodity.

Find the cheapest premium, fill in an application form, and that's that.

Of course, price matters. Nobody wants to pay more than they need to. But there's much more to choosing the right life insurance than finding the lowest monthly premium.

How much cover do you actually need? How long should it last? Is the policy structured correctly? Have you made the right arrangements for the people who would receive the money?

These are all questions worth considering before making a decision.

There are also a couple of attitudes towards life insurance that I've come across time and again.

The first is particularly common among younger people, who understandably tend to feel they're pretty much bulletproof. Serious illness, accidents and unexpected death are things that happen to other people, or at least much later in life.

Unfortunately, life doesn't always work out that way.

The second is the idea that term life insurance is somehow wasted money if you reach the end of the policy without making a claim.

I've never understood that argument.

Nobody thinks their home insurance was a waste of money because their house didn't burn down. And nobody wishes they'd had a serious car accident just to get some value from their motor insurance.

Why should life insurance be any different?

If you reach the end of your term life insurance policy without a claim, that's not a failure of the product. It's a very happy ending.

How I approach life insurance today

I understand that arranging life insurance isn't always straightforward when your family, career and financial commitments are spread around the world.

And even when everything is in one country, no two people's circumstances are quite the same.

I believe the starting point should always be a conversation.

Who are you looking to protect? What financial commitments do you have? What would you want to happen if you were no longer around? And what sort of cover would give you the reassurance that you've made sensible arrangements for the people who matter to you?

Once we understand those things, we can look at the options, explain the differences and work towards finding cover that suits your circumstances and your budget.

I don't believe in making life insurance unnecessarily complicated, and I certainly don't believe the cheapest policy is automatically the best.

What matters is getting the right cover in place, making sure it's properly structured, and ensuring you understand exactly what you're buying.

After more than 25 years in the life insurance business, I still enjoy what I do. And I still get enormous satisfaction from knowing that good advice and a well-arranged policy can make a real difference to someone's family.

“The real value of life insurance isn't measured when you buy the policy. It's measured when the people you care about need it.”

— Andy Robinson

And that's something I've never lost sight of.