New research commissioned by the Financial Services Council (FSC) has revealed the high number of New Zealanders that are underinsured when it comes to their lives, their incomes or suffering a major illness.
The third and final part in the FSC’s research series on New Zealanders’ attitudes to financial risk; ‘Gambling on Life’ focuses on the life insurance gap to understand the reasons behind underinsurance and the potential risks that some kiwis expose themselves to.
“Gambling on Life found that while many New Zealanders are aware of the importance of types of life insurance, this isn’t reflected in adequate levels of cover for themselves”, said Richard Klipin, CEO of the Financial Services Council.
The study looked at the three main types of life insurance available in New Zealand; life insurance, income protection/mortgage repayment insurance and critical illness insurance.
Read the media release.
Read the research report.
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