What is Lifewise?
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.
Lifewise is an initiative of the Australian Life Insurance Industry aimed at addressing this issue.
Research conducted by IFSA in 2005 raised the profile of underinsurance, a problem the life insurance industry has been aware of for a while.
Through Lifewise, Australians will be 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.