The Cost of Life Insurance
Overestimating the cost of life insurance is dissuading buyers of insurance
When non-insured persons were asked to estimate the annual cost of a life insurance policy for a 40 year old non-smoker, 40% were unable to provide an estimate, while those who provided an estimate overstated the cost by between 49% and 65%.
Q. What do you think the annual premium would be for a one million dollar life insurance policy for a 40 year old non-smoker? Please give your best estimate even if you’re not sure.
Overestimated the Cost
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% don't know the cost
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| Male | 49% | 42% |
| Female | 65% | 33% |
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Why no Life Insurance
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Lifebroker is an Authorised Representative of National Financial Solutions Pty Ltd, holder of AFSL 284182
(life insurance and income protection insurance broker).