Life Insurance Brings Happiness
In a recent survey we asked respondents how happy they were. We wanted to know if people who had Life Insurance were happier than those that did not, because we strongly believe that having Life Insurance provides you with true peace of mind – especially when you have a family to look after.
As it turns out, the independent survey results supported this belief.
Among people with Life Insurance, the average “happiness” score was 7.2, while for those without it was 6.6. This represents a material 9.1% difference. When looking at age ranges, people aged from 55 to 60 were happiest, with a score of 7.2, while the lowest was the 6.9 average for people between 30 and 34. The results for males and females were almost identical.
Among the people who have Life Insurance, on a scale of one to 10, 45% rated their happiness as eight, nine or 10. By contrast, of people who did not have Life Insurance, only 39% rated their happiness as eight, nine or 10.
At the other end of the scale, only 4% of people with Life Insurance rated their happiness one, two or three compared to 9% of those who didn’t have Life Insurance.
Purchasing Life Insurance is one of the most selfless acts you can do, as it is your family, not you personally, that will usually benefit if a claim is made.
Despite this, time and again we hear our clients telling us they feel relieved they have their Life Insurance sorted. Getting the right cover can make you feel more secure about your financial future, and more confident that your family will be able to cope if you pass away, or you’ll be able to manage a serious illness or accident if it happens to you.
When people buy Life Insurance
The survey revealed that the most likely time people would look to purchase Life Insurance or Income Protection was when they have a change in their life circumstances – for example if they get married, take on a mortgage or have a baby.
Becoming responsible for someone else’s financial well being can lead to a significant shift in mindset, and we find that’s often when people contact us to talk about getting covered.
The research referred to was conducted independently by PureProfile in December 2018 from a survey completed by over 1,000 Australians.