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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 www.lifewise.org.au 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’

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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 www.asteronlife.com.au/privacy to view or download the policy.