Well-known home loan and credit card group, Aussie, announced last week its intention to ‘…shake up the $30 billion insurance industry in Australia…,’ as it launched its range of new insurance products to the market.
Aussie founder, John Symond, said “I was shocked to learn the penetration rate of life insurance in Australia is so low. We often take things for granted and we don’t plan for the future. Young Australian families should think about what would happen if the worst were to happen to one of the breadwinners,” he said.
“We all place a high value on insuring our car or our house, yet we are complacent when it comes to insuring our most important asset – ourselves,” continued Mr Symond.
…seven in ten Australians believe their families would not have enough money and would face financial ruin if they died
The introduction of the new insurance product range follows research commissioned by Aussie, which found seven in ten Australians believe their families would not have enough money and would face financial ruin if they died.
The product range includes life, trauma, funeral and accident insurance, with premium rates fixed for the first three years.
Cover, provided on a ‘non advice’ basis, can be obtained over the telephone, with no medical examinations or blood tests required.
The launch of life products under the Aussie banner coincides with a major re-launch of the Aussie brand in a multi-million advertising campaign covering TV, radio, digital and outdoor, with the new slogan -“Put yourself in a better place”.
Aussie’s life products are underwritten by reinsurer Hannover Life Re Australasia, and are distributed via Hollard Financial Services.
