Life insurance adequacy
- On 08/02/2018
Life insurance in Australia is sold through three different channels, all of which are under scrutiny. Direct sales fill some needs but they are often relatively poor value, as evidenced by the current ASIC investigation into this segment. Similarly, intermediated retail sales are comprehensive but profitability has been challenging for most life companies in recent […]
Read More
Australia’s relentless underinsurance gap
- On 08/09/2016
Rice Warner’s recently-released Underinsurance in Australia 2015 report highlights once again the critical and relentless gap between the level of insurance needed and the level of insurance cover in place. Our latest research shows that the median level of life cover meets only 61% of basic needs, defined as the minimum required to pay all […]
Read More
Addressing superannuation underinsurance
- On 28/04/2016
What can superannuation funds and their members do to reduce Australia’s significant and persistent underinsurance gap? This is a critical question given that superannuation funds provide about three-quarters of life insurance cover in terms of policy numbers and the high level of underinsurance in Australia. (Rice Warner INSIGHTS, April 20.) A couple aged 40 with […]
Read More