Aussies Underinsured And Unprepared Says New Global Insurance Survey
Wednesday, October 17 2007
Last week, insurer AXA released the 2007 results of its first ever AXA Protection Report. The report is a study that compares people’s attitudes to life risks and insurance across 11 countries and provides interesting insight into how Australia compares globally.
Key findings:
- The she’ll be right attitude of many Australians means they are underinsured and unprepared for the financial consequences of life risks.
- Australians don’t believe they’ll encounter life risks. They were significantly less concerned about eight out of ten specific risks.
- 61% of Aussies either don’t like thinking about life risks, can’t see the point of thinking about them or believe in taking risks.
- 64% of Australians are failing to adequately insure their most important assets, themselves, and protect their families.
- On average Australians are underinsured by $112,000.
Interestingly and in comparison with the other nations, Australia topped the list of best insured with only 36%.
Which part of the stats are you?
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