Misconceptions among Australians about life insurance

by Andrew Newman
in Insurance
13 May 2010 | 0 Comments

Recent research findings from a life insurance broker has uncovered major misconceptions among Australians about life insurance.

Some of the research findings are as follows:

Men overestimated the cost of life insurance by 49%
Women overestimated the cost of life insurance by 65%
36% said the perceived cost as the major reason for not having life insurance
21% held income protection insurance with about 1/2 the policies held in super
49% held life insurance with about 1/2 the policies held in super
By contrast, 56% had private health insurance, 80% had some type of home insurance and 86% had some type of car insurance

If you would like to secure the financial future for you and your family, then I urge you to have your insurance cover reviewed.

Important Information

Information provided in this newsletter is general in nature and does not constitute financial advice. While I have taken reasonable care in providing this information, it should not be construed as being specific to your investment objectives, financial situation or particular needs. It's important for you to consider these matters before making any financial decision and we recommend you seek financial advice.

Misconceptions among Australians about life insurance

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