The number of Australians who say they have life insurance through super has grown considerably during this time, increasing from 27 per cent to 48 per cent. During the same period the number of Australians who say they have a stand-alone life insurance policy (outside of super) has dropped from 28 per cent to 18 per cent.
Head of Macquarie Life, Justin Delaney, said that while many Australians may have life insurance through their superannuation plan, the understanding of the level of cover this provides and its ability to meet their needs is a concern.
The research study conducted by Macquarie Life into consumer sentiment around purchasing life insurance has revealed that expectations of life cover may be far from reality for many Australians
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