Introduction
About life and income protection insurance
Immediate financial needs and future financial plans depend on our ability to earn an income.
Life and income protection insurance products provide funds when someone experiences an illness, injury or premature death, stopping them from earning an income. Life insurance pays an agreed lump sum in the event of death or terminal illness, and income protection insurance covers 75 per cent of a salary when the claimant is temporarily unable to work due to sickness or injury.
Methodology
The research was undertaken by Sweeney Research and covered all Australian states and territories. The research was conducted online with 1,000 respondents.
All research participants were aged over 25 years and were currently or potentially the main or joint-decision maker within the household for the purchase of life and income protection products. Age, gender and geographical quotas were applied to ensure proper representation. For analysis purposes the data was weighted by sex within age by state/territory to ensure results were representative of the personal insurance decision-maker population.
About lifebroker
Lifebroker is Australia’s largest specialist broker of life insurance products and provides free, online premium comparisons between Australia’s major life insurers.
Lifebroker was founded in 2002 and is operated by National Financial Solutions Pty Ltd, holder of Australian Financial Services Licence 284182 issued by the Australian Securities and Investment Commission.
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Underinsurance In Australia |
Lifebroker is an Authorised Representative of National Financial Solutions Pty Ltd, holder of AFSL 284182
(life insurance and income protection insurance broker).