• Life Insurance
• Business Insurance

Why Insure

Could this be you?

Each year thousands of Australians are injured, suffer a serious illness or die unexpectedly. Statistics from the Australian Institute of Health and Welfare show that 1 in 3 men and 1 in 4 women will be diagnosed with a malignant cancer before the age of 75.

If this happened in your family would you be able to afford:

• The monthly mortgage payment?
• Continuing education expenses?
• The cost of additional home help?
• The living expenses of your current lifestyle?
• Sufficient retirement savings?

The loss of family income and increased medical costs may force the sale of the family home, the sale of other assets or the running down of savings. Your hopes of giving your children the right start in life may be dashed. Your family may no longer be able to afford life's little luxuries. Insurance can help you to protect against such a scenario.

When should you consider insurance?

Any time is a good time to review your personal situation. However there are certain events during life which should prompt consideration of cover such as:

• Getting married
• Having children
• Buying property or any other asset involving debt
• Starting your own business
• Setting up a Self Managed Super Fund
• Putting together a Financial Plan

You should review your insurance needs at least annually to take account of changes in your circumstances. Use our Insurance Needs Calculator to estimate your insurance requirements.

Are you one of the many under insured in Australia?

Most Australians are still significantly under-insured
(Extract from AXA News Release on 20th July 2005)
Under-insurance remains a significant problem in Australia, according to a new AXA under-insurance report.

Adrian Emery, General Manager Sales and Marketing at AXA said, "only 22% of Australians have life insurance, with the average Australian having only 30% of the life insurance required - a gap of nearly half a million dollars per individual." "Only 6% of Australians have income insurance, with only 24% of insurable income insured. The average Australian will receive an income insurance benefit that is $29,000 per annum less than they need," said Mr Emery. "With national savings in Australia at an all-time low and household debt passing a staggering $750 billion at the end of last year, there has never been a more important time for financial protection" said Mr Emery.

This is the third consecutive year that AXA has produced the under-insurance report. This year's report includes new consumer research, which indicates that consumer attitudes toward insurance and financial advice are contributing to the problem. "Consumers are feeling "bullet-proof", and as a consequence, tend to see insurance as "not important". This is an attitude that has arisen in tandem with the recent housing boom, strong economy and low levels of unemployment," said Mr Emery. "We also found a widespread misunderstanding about what insurance provides and how it works, which means consumers don't see the need for insurance. Even a vague knowledge can be a problem - it can put insurance in the too hard basket and it can lead people to falsely dismiss its value."