New research has shown a clear link between consumers holding adequate levels of insurance cover and their choice to receive advice from a financial adviser.
Drawn from the Suncorp Life Confidence Index, based on a survey of 2,000 working Australians, Asteron has revealed consumers who used a financial adviser were twice as likely to be adequately insured than those who did not, and were also confident that their family would be financially secure in the event of a crisis.
Key findings from the survey included:
- 42% of people who had used a financial adviser in the last 12 months had life insurance and were also confident they held sufficient cover to provide for their family in the event of a crisis
- Of those who had not sought any financial advice, only 19% had life insurance (and it was in question as to whether this 19% held adequate cover levels)
23% of people who had not seen an advisor had never even considered the need for life insurance
- 23% of people who had not seen an advisor had never even considered the need for life insurance
- More than half of the respondents lacked any confidence that they could find equivalent employment in three months if they were to lose their job
These outcomes prompted Asteron’s Executive General Manager, Jordan Hawke, to again emphasise the value and importance of insurance and the differences it makes in peoples’ lives.
The survey highlights the fact that those consumers who choose to have financial advisers are more likely to have the opportunity of dignity and financial and lifestyle choices when it matters the most.
