References & Statistics

The following Statistics and References are provided though out the Money Fitness Centre site.

Life Insurance Cover

  • Around 4,400 parents with dependent children die each year. (1 – IFSA/Rice Walker, Underinsurance Key Facts, August 2005)
  • The average Australian family owes more than $300,000 on their home. (2 – Australian Financial Group Mortgage Index, 2006)
  • For every home lost through fire, 3 homes will be lost following a death in the family. (3 – US Department of Housing & Urban Development, 2005. This figure is based on US data, however we believe that experience in Australia would be similar.)

 

Total & Permanent Disability Insurance Cover

  • There are over 50,000 heart attacks in Australia annually.(4 – Heart Foundation, Australia Facts 2004: Heart, Strokes and Vascular diseases)
  • According to the ABS, of those people who experienced a work-related injury in the last 12 months, only 57% received financial assistance and only 55% of those received Workers Compensation. (5 – ABS Work-Related Injuries, Australia Report for 2005-6)
  • There are over 8,000 people with spinal cord injuries in Australia. (6 – Spinal Cord Injuries, Australia www.scia.or.au/faqs)

 

Trauma Insurance Cover

  • 1 in 3 men and 1 in 4 women will suffer from cancer in their lifetime. And half of those will live longer than 5 years after diagnosis (7 – Cancer Council: www.cancer.org.au)
  • There are over 50,000 heart attacks in Australia annually (8 – Heart Foundation, Australian Facts 2004: Heart, Strokes and Vascular Diseases)
  • Each year approximately 40,000 Australians suffer from a stroke. And 30% of these are repeat stroke (9 – Australian Institute of health and Welfare: Australia’s Health 2002)
  • Government allowances and benefits also do not go very far in covering you against accident or sudden illness. The maximum payment for any one benefit is $499 per fortnight, but most benefits are subject to income and assets tests, so the maximum benefit may be reduced. (10 – www.centrelink.gov.au, 2006)