Thursday, August 23rd, 2012 is establishing itself as a go-to resource for all things life insurance. From advice on whether life insurance is recommended for your situation to tips on how to make sure you’ve got enough life insurance to cover your needs, consumers will find a wealth of information to help them feel less confused.

2011 research from the Lifewise/NATSEM Underinsurance survey revealed that underinsurance is a huge problem in Australia - a staggering 95% of Australian families do not have enough life insurance to cover their needs. Instead, most families were content to fall back on life insurance offered through their super fund - which is rarely enough to cover the needs of the average family.

It seems that little has changed for 2012. While more Australians are arranging life insurance through their superannuation funds, this does not extend to specialist life insurance products. In fact, research from Macquarie Life indicated that investment in stand-alone life insurance products has actually dropped by 10 per cent#.

Even more worrying is the mistaken belief that this is all that is needed. None of us want to think about what may go wrong but this can be a big error if the worst does indeed happen. Savings could see you through in the short term but few people have enough put aside to forgo life insurance altogether. Research from Macquarie Life revealed that 72 per cent of respondents who only had life insurance cover through their super believed that this gave them good or very good protection#. Of those who do not already have life insurance, 62 per cent were unsure whether to do so or did not see the need.

This attitude means that underinsurance is still a big cause for concern and this is something that is keen to address through its content.

“Underinsurance is still a big problem in Australia and many people are significantly underinsured - to the point that there would be huge financial implications if the main earner in the family were to die or be unable to work for a while. This is obviously a massive cause for concern, and one of my main aims in setting up was to take away some of the confusion and myths surrounding life insurance so that more people understand its importance and are better placed to find the right policy for their needs.”

Contact Profile is committed to helping more Australians to understand their life insurance options so that they are more likely to arrange adequate cover for themselves and their families. Content ranges from why life insurance is a must-have form of insurance to advice on how to determine how much life insurance cover is needed for your circumstances - and everything in-between. For more information about the site, please contact owner Jonathan Leane.
Jonathan Leane
P: 0467593741


life insurance, life insurance comparison



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