Average AIA Australia’s claimant age

ARTICLE
30 September 2024 dot 3 mins read
In 2023, AIA Australia paid over $2.3 billion to over 33,000 customers in Retail, Group and Direct insurance claims - that averages out to over $44 million per week.
While the messaging of $2.3 billion paid in claims highlights that we're there for your clients and ready to support them through the unexpected, an equally important number is the average age of AIA Australia claimants for financially advised claimants.
 
Understandably, the increasing cost of living leads to clients considering their options to reduce expenditure. While a life insurance policy may provide that financial support during unexpected times, it' natural that it also falls into the consideration of 'cost savings.'
 
Taking into consideration the life stage of clients and their life insurance policy, our 2023 claims data highlights key data on the average age of retail adviser claimants, data that could help your clients make the decision to continue cover.

Average age of an AIA Australia claimant [1]

As has been the case for some time now, the top four claimable events include:
 
  • Cancer – 162,000 new cases of cancer were diagnosed in Australia in 20222
  • Mental Health – 1 in 2 (46%) Australians aged 16-85 have experienced a mental health disorder in their lifetime2.
  • Musculoskeletal - 3 in 10 (27% or 6.9m) people suffered arthritis or musculoskeletal conditions2 in 2020-21.
  • Cardiovascular disease - 57,300 people aged 25 and over had an acute coronary event in the form of a heart attack or unstable angina in 2020 – around 157 events every day. Of these, 6,900 (12%) were fatal3.
References