Mortality protection gap for life insurance in Australia nears $1 trillion

According to Swiss Reinsurance Co., the life insurance mortality protection gap in Australia has reached almost $1 trillion. Since 2000, estimates from Swiss Re. about the gap – that is, the size of the needed protection that is not protected by funding from savings or insurance – has risen by $432 billion to reach $972 billion. These figures were the outcomes of a survey conducted with 1000 participants who are working individuals between the ages of 20 and 40 in Melbourne and Sydney. According to the head of the life…

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