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Allianz is Lifewise

Lifewise is an initiative of the Australian life insurance
industry aimed at addressing the issue of underinsurance.

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Allianz is Lifewise

Lifewise is an initiative of the Australian life insurance industry aimed at addressing ‎the issue of underinsurance. Australia is one of the most under insured nations in the ‎developed world.

Lifewise is coordinated by the Financial Services Association (FSA) and is funded by special contributions from FSA’s life insurance and reinsurance members.

Research conducted by FSA in 2005 raised the profile of underinsurance, a problem the life insurance industry has been aware of for a while.1

Despite the fact that almost every working Australian has a level of life insurance cover within their super, Australia has proved to be one of the most underinsured nations in the developed world.

In fact, a 2007 Swiss Re research report found Australia ranks 16th in the world for life insurance density and penetration.2 And a 2008 survey by the Australian Institute of Superannuation Trustees (AIST) and Industry Funds Forum (IFF) revealed that “one in two industry fund members were underinsured by $100,000 or more.3

Lifewise is an initiative of the Australian life insurance industry aimed at addressing this issue.

Through Lifewise, Australians are able to find out about:

  • the risks they face in everyday life;
  • the consequences of not protecting themselves financially from these risks;
  • how much life insurance cover they have;
  • how much cover they need; and
  • who they can talk to find out more.



1 A nation exposed: Investigating the Issue of Underinsurance in Australia’. Research conducted for FSA by TNS, July 2005

2 Insurance density and penetration in industrialised countries in 2007’ Swiss Re Economic Research & Consulting

3 AIST Media Release, Tuesday 3rd June 2008


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Awards

Allianz rated outstanding value for the fifth year by CANSTAR

Allianz rated outstanding value for the fifth year by CANSTAR.

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Life Insurance Product of the Year Award - 2013 Winner

Allianz is proud to be named the winner of the Life Insurance Product of the Year Award at the 2013 Australian Banking and Finance Insurance Awards.

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Product Disclosure Statement

View the Product Disclosure Statements.

For terms, conditions and exclusions of our insurance, please refer to the Product Disclosure Statement (PDS).

Important note:
The insurance is issued by Allianz Australia Life Insurance Limited ABN 27 076 033 782, AFSL 296559. The information contained on this website is general information only. It does not take into account your individual objectives or financial situation. You should therefore consider the appropriateness of the insurance having regard to your objectives, financial situation and needs. Prior to making any decision you should read the Allianz Life Plan Product Disclosure Statement and Policy Document (PDS). You should seek advice from your financial adviser before deciding on appropriate insurance cover.