{"id":77201,"date":"2025-05-08T11:48:33","date_gmt":"2025-05-08T00:48:33","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=77201"},"modified":"2025-05-15T11:00:43","modified_gmt":"2025-05-15T00:00:43","slug":"more-australians-focus-on-life-insurance-report","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2025\/05\/08\/more-australians-focus-on-life-insurance-report\/","title":{"rendered":"More Australians Focus on Life Insurance \u2013 Report"},"content":{"rendered":"

Life cover is increasingly becoming a key part of Australian’s financial strategy according to the 2025 Life Insurance Pulse Report<\/a><\/em> published by NobleOak.<\/p>\n

The firm’s annual study shows 60% of Australians now have some form of life cover \u2013 up from 55% last year.<\/p>\n

Despite the growth, the report highlights gaps in public understanding with just one third of respondents apparently knowing what a fully underwritten life insurance policy offers. Yet, among those who are familiar with the term, 98% said it was an important consideration.<\/p>\n

This shift reflects the growing trend for Australians to invest in the future…<\/p><\/blockquote>\n

NobleOak CEO Anthony Brown<\/strong> said the findings underline the need for better education around insurance products.<\/p>\n

\"NobleOak
Anthony Brown…<\/figcaption><\/figure>\n

\u201cThis year\u2019s report found life insurance has now become a priority purchase for many Australians, outranking education, mobile phone use, some grocery purchases, gym memberships and holidays,\u201d he said.<\/p>\n

However, he said it is worrying the general understanding of a fully underwritten life insurance policy is low.<\/p>\n

The report also shows increasing financial confidence, with 76% of Australians saying they feel in control of their finances.<\/p>\n

Still, nearly one in four (23%) believe they don\u2019t have enough life cover, with women more likely than men to report lower financial confidence.<\/p>\n

Key findings of the report include:<\/p>\n

\"Noble<\/a>
Click to download the 2025 NobleOak Pulse report.<\/figcaption><\/figure>\n
    \n
  • Use of financial advisers\/brokers for financial needs has now returned to pre-covid levels (32%), though advice is focused on superannuation and retirement planning or investment plans over life insurance<\/li>\n
  • Those in the medical profession feel more financially insecure than tradespeople, at 37% and 23% respectively<\/li>\n
  • Women report lower levels of financial confidence compared with men (28% vs 20%)<\/li>\n<\/ul>\n

    The report also found people are relying less on advice from family and friends when it comes to life insurance. However, younger age groups tend to be a little more reliant on friends and family for recommendations than the older audiences.<\/p>\n

    \"\"
    Data and graphic \/ NobleOak.<\/figcaption><\/figure>\n

    The report concludes that trust in insurers, especially regarding claims reputation and policy value, continues to be a key factor when choosing coverage, with many Australians prioritising these aspects over cost alone.<\/p>\n

    For the first time since NobleOak\u2019s Pulse Report launched in 2016, Australians are also reporting their highest happiness levels in almost a decade, with 75% rating their happiness at seven out of 10.<\/p>\n

    NobleOak also reported it has a 98.8% claims payout rate.<\/p>\n","protected":false},"excerpt":{"rendered":"

    Life cover is increasingly becoming a key part of Australian’s financial strategy according to the 2025 Life Insurance Pulse Report published by NobleOak. The firm’s annual study shows 60% of Australians now have some form of life cover \u2013 up from 55% last year. Despite the growth, the report highlights gaps in public understanding with […]<\/p>\n","protected":false},"author":23,"featured_media":77211,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[48],"tags":[],"class_list":{"0":"post-77201","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-company-news"},"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/77201","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=77201"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/77201\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/77211"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=77201"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=77201"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=77201"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}