A total of 83.4 per cent of Australian adults are confident that their life insurance claim payments will be made when they require it, according to a NobleOak survey.
Over a quarter of the 1000 survey respondents (29.7 per cent) considered themselves confident or very confident that their life insurance or income protection claim would be paid, with a further 29 per cent “reasonably” confident.
NobleOak chief executive, Anthony R Brown, said the industry still had ground to cover, but continued negativity toward the industry had failed to put customers off entirely.
“It is pleasing to see that confidence in the life insurance industry remains high despite some recent negative press,” he said.
“Life insurers provide an invaluable service to Australians when they need help the most.
“The industry still has some work to do to achieve 100 per cent consumer confidence however.”
Of the respondents, 297 did not have life insurance protection, while 118 (11.7 per cent) considered themselves not at all confident in making successful insurance claims.
Life insurance companies paid out just under $7 billion in claims in 2015.
