Under Insurance

Aussies Underinsured by $1.8 Trillion

Aussies Underinsured by $1.8 Trillion

Australia’s underinsurance gap stands at $1.8 trillion, according to the latest figures from Rice Warner.

The report concludes:

  • Australians are covered for just 38% of their income replacement needs; and
  • The typical middle-income Australian family with two children is underinsured by $422,000 (median level of life insurance).