Lifewise helps australians get wise on life insurance



Today the life insurance industry and the Investment and Financial Services Association (IFSA) launched Lifewise to help combat Australia’s chronic underinsurance problem.

The Lifewise campaign is aimed at educating Australians to take appropriate steps to understand the risks and protect themselves from the financial hardship that can result from accident, sickness or death.

The Lifewise website can give you the knowledge you need to make informed decisions about life insurance. It’s got great stories about insurance - and underinsurance - from people just like you, and an insurance needs calculator so you can get an idea of ‘how much is enough’.

Did you know?

  • Australia is one of the most underinsured nations in the developed world. In an environment of rising household debt and falling asset values, uninsured and underinsured Australian families could be forced to sell assets in the event of long term illness, a serious accident or the death of a breadwinner.
  • Most Australian families would not be able to meet their financial obligations after three months should they lose the family’s main breadwinner1. This means many face financial ruin at a time of personal distress and tragedy.
  • Investment and Financial Services Association (IFSA) research2 shows Australian families received an average payout of just $91,000 on the death of a partner in 2008. A fact that sheds light on the consequences of the life insurance protection gap.

Lifewise is expected to be a three to five year campaign with a range of activity planned for the coming financial year including further research, working closely with all lifewsie supporters and online campaigns. Asteron is proud to support Lifewise.

If you’d like more information about insurance speak to your financial adviser or call our customer service team on 1800 221 727.

Important information

Various products and services are provided by different entities of the Suncorp Group. The different entities of the Suncorp Group are not responsible for, or liable in respect of, products or services provided by other entities of the Suncorp Group.

1 Of Australians without income protection insurance. Source: CommInsure Income Protection Study 2005

2 IFSA Media release 30 April 2009 ‘$91,000 not enough to cover lost life - Australians encouraged to become Lifewise’

< Back

Asteron Life™ is committed to providing customers with long term financial security. We provide life insurance products including Income Protection Covers, Trauma Cover, Total & Permanent Disablement (TPD) Cover, Life Cover and Business Expenses Cover. To obtain a copy of our privacy statement, please contact us on 1800 221 727 or visit the following website to view or download the policy.

Asteron supports and adheres to the Life Insurance Code of Practice (Code). The Code has been developed voluntarily by the Life Insurance industry through the Financial Services Council to promote high standards of service to consumers, provide a benchmark of consistency within the industry, and establish a framework for professional behaviour and responsibilities. Download the Code here. For more information contact the Financial Services Council on (02) 9299 3022 (local call cost), email or visit

© Asteron Life & Superannuation Ltd ABN 87 073 979 530 (Asteron). Registered Office, Level 16, 363 George Street, Sydney NSW 2000

Asteron Life & Superannuation Limited ABN 87 073 979 530, AFSL 229880 (Asteron) is part of the TAL Dai-ichi Life Australia Pty Limited ABN 97 150 070 483 group of companies (TAL). Suncorp Portfolio Services Limited ABN 61 063 427 958, AFSL 237905, RSE Licence No L0002059 (SPSL or Trustee) is part of the Suncorp group of companies (Suncorp). SPSL is a related body corporate of Suncorp Group Limited ABN 66 145 290 124 and Suncorp-Metway Limited ABN 66 010 831 722 (Suncorp Bank) (Suncorp). This product is not a bank deposit or other bank liability of the Suncorp Bank. The obligations of the different entities of TAL and Suncorp are not guaranteed by other entities