2016 Direct Income Protection Star Ratings

CANSTAR has rated 14 policies from 12 providers

Winners
Outstanding Value Direct Income Protection: NobleOak and ANZ - https://www.canstar.com.au/life-insurance/direct-income-protection/we-reveal-the-winners-for-direct-income-protection-in-2016/

2016 Direct Income Protection Star Ratings
2016 Direct Income Protection Star Ratings
What age group shops for direct insurance?

• 7% are in their 20s
• 38% are in their 30s
• 32% are in their forties
• 12% are in their early fifties
• 11% are in their late fifties

Based on visitors to CANSTAR's selector tables over the past 12 months
Read more: https://www.canstar.com.au/life-insurance/direct-income-protection/who-buys-direct-income-protection-insurance/

 

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Who buys direct income protection?

  • The decisive
  • The time-poor
  • Digital Natives
  • Those experiencing a major life event

Source: NobleOak Life Study survey

Read more.

What does direct income protection cost?

Average monthly cost ($)
for $3,125 monthly cover for 27-yo
Average monthly cost ($)
for $3,125 monthly cover for 52-yo
Occupation Male Female Male Female
Accountant 42.51 52.27 105.10 151.57
Receptionist 44.42 54.89 112.14 162.06
Sales Assistant 50.67 61.46 129.61 182.45
Secondary School Teacher 54.17 66.88 140.55 199.95
Registered Nurse 57.39 71.23 152.34 215.05
Chef 59.40 73.25 156.68 221.53
Truck Driver 61.68 75.21 168.46 234.68
Electrician 63.07 78.38 169.34 237.93
Waiter 66.27 79.26 172.16 239.49

Source: www.canstar.com.au

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Based on non-smoker and policies rated by CANSTAR

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“There is much stronger willingness to make a Life insurance purchasing decision online without a financial adviser than in the past, and this trend continues.”

Source: NobleOak

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83%

of Australians say they have insurance for their car

Source: Lifewise.org.au

31%

of Australians say they have income protection

Source: Lifewise.org.au

Award Winners

Outstanding Value Direct Income Protection
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Nobleoak - Canstar outstanding value award winner