$2.3 Billion paid out in Life Insurance Cliams last year

  • by The Quotesonline Team

Life insurance industry group Investment and Financial Services Association (IFSA), in a recently surveyed their members (covering 90% of Australian life insurers) showed that $2.3 Billion dollars was paid out in 35,000 term and life insurance claims, the figures show that more than 13,000 families received an average $91,000 payout on the death of a partner, usually the primary earner.

Average payouts on total and permanant disabilty insurance were $71,000 and trauma insurance $155,000.

Of the claims 70% relate to men, while it appears that women are less likely to have life insurance.

Please note Quotesonline Insurance News is an information service provided by third parties Insure 247 Australia doesn’t warrants the accuracy of any information contained there in, readers should make their own enquiry’s before relying on information in the stories Terms of Service