CLIENT USE
Facts of life
Asteron Claims 2009
Every day at Asteron, we see how our life insurance gives our customers the confidence to seize life’s
possibilities. It’s the confidence that comes from knowing that if things don’t go according to plan...
well, you have a plan for that as well.
If you do experience sickness or injury along the way, you know you can tackle it head-on – with the financial support you need to
explore all your options:
›› The best health care
›› The best alternative therapies
›› The best counselling and financial advice
In 2009, Asteron paid more than $193 million in claims to around 2,975 customers, who are individual policyholders, Australia-wide.
And when it comes to claim time, the Asteron difference is clear. We combine decades of experience, knowledge and integrity with
vision and creativity for a responsive approach that puts our customers, and their families, first.
The Asteron claims difference
›› Simple and efficient processes to get claims assessed faster
›› Claims kit that guides you through our simple 4-step claims process
›› Your own dedicated Case Manager who sees you through the entire claims process
About Asteron
Asteron has been a specialist life insurance company for more than 175 years. In 1833, Asteron wrote the first life insurance policy in
Australia, paying the first claim shortly after. True to the promise we make our customers, we’ve been paying claims ever since.
Asteron can protect your lifestyle, and your long-term financial security with life insurance. But more than that, we want to make your life
better today.
That’s why Asteron customers are rewarded the longer they stay with us. We also offer exclusive access to our online health and wellbeing
program – Asteron Life!
Asteron is part of the Suncorp Group. Welcome to the bright side of life insurance.
Average claim payment
Insurance type
Total claims paid to individual policy holders
Male
Female
Life Cover
$59.2 million
$265,000
$221,000
Recovery
$38.5 million
$169,000
$135,000
Total and Permanent Disablement
$10.1 million
$542,000
$638,000
Income Protection and Business Expenses
$86.0 million
$54,000*
$49,000*
TOTAL
$193 million
All average claim payment figures are indicative only. Amounts will differ depending on individual circumstances.
* Note: average claim payment is based on annual benefit.
‘Family’ insurance – Life Cover claims
We’re lucky in Australia to have increasing life expectancies and
decreasing mortality rates thanks to higher incomes, better health
care and advancing medical technology.1
However, for those who did need it, Asteron paid out $59.2 million
in Life insurance (death) claims to our customers in 2009.
Reason for Life Cover claims
‘Modify your lifestyle’ insurance – Total and
Permanent Disablement (TPD) claims
We know that accidents and serious illness can happen, however
the good news is that there has been a decrease in the number
of people in Australia who have a ‘profound or severe’ disability:
5.9% of Australians in 2003 compared to 6.4% in 1998.2 Although,
the cost of care is often underestimated and can have a significant
impact on the lifestyle of the whole family.
Cancers
42%
Diseases of the circulatory system
(inc heart disease)
18%
Accidents
15%
Other (eg Emphysema)
12%
Diseases of the nervous system
and sense organs
33%
Diseases of the respiratory system
10%
Musculoskeletal disease
17%
Mental illness
17%
Other
16%
Diseases of the circulatory system
(inc heart disease)
11%
Diseases of the digestive system
For those who did need it, Asteron paid out $10.1 million in TPD
insurance claims to our customers in 2009.
Reason for TPD claims
3%
‘Get better’ insurance – Recovery (Trauma) claims
Cancer, heart attack and stroke are serious medical conditions that
can affect anyone, but the good news is that cancer survival rates
are improving – 88% of women now survive breast cancer3 and 85%
of men survive prostate cancer.4 However, cancer still impacts the
lives of those it affects – including financially.
For those who did need it, Asteron paid out $38.5 million in Trauma
insurance claims to our customers in 2009.
Reason for Recovery claims
Cancers
49%
Diseases of the circulatory system
(inc heart disease)
20%
Total and Permanent Disablement
14%
Death
7%
Accidents
5%
Other (eg Multiple sclerosis)
5%
Accidents
‘Keep your lifestyle’ insurance – Income
Protection & Business Expenses claims
What if a severe sickness or injury prevented you from earning an income
for a period of time – weeks, months, or even years? The good news is
that of the 858,000 Australians that took time out of the workforce last
year due to illness, 25% of these people were back at work in six months.5
But for those who did need it, Asteron paid out $86 million in
Income Protection and Business Expenses insurance claims in 2009.
Reason for Income Protection and
Business Expenses claims
Want to know more?
To find out more about Asteron’s range of insurance solutions,
visit www.asteron.com.au or speak with your adviser.
Plan now
Ask your adviser how Asteron’s range of life insurance
solutions can help protect you and your family’s financial
security and give you the confidence to live the life you want
to live.
Accidents
30%
Musculoskeletal disease
23%
Mental illness
16%
Cancers
9%
Other (eg Emphysema)
7%
Diseases of the circulatory system
(inc heart disease)
6%
Diseases of the nervous system
and sense organs
6%
Diseases of the digestive system
3%
1 Australian Bureau of Statistics, 2006, Measures of Australia’s Progress 2006, Cat. no. 1370.0, www.abs.gov.au
2 Australian Bureau of Statistics, 2003, Disability in Australia, Cat. no. 4446.0, www.abs.gov.au
3 Australian Institute of Health and Welfare, 2006, Cancer Survival and Prevalence in Australia 1982-2004, www.aihw.gov.au
4 Australian Institute of Health and Welfare, 2006, Cancer Survival and Prevalence in Australia 1982-2004, www.aihw.gov.au
5 Australian Bureau of Statistics, 2009, Labour Force Experience, Cat. no. 6206, www.abs.gov.au
Important note
This information is for adviser use only and has been prepared without taking into account any person’s objectives, financial situation or
needs. Before acting on this advice or making a decision all persons should consider the appropriateness of this advice having regard to
their own objectives, financial situation and needs. The Asteron Lifeguard PDS is issued jointly by Asteron Life Limited ABN 64 001 698 228
AFSL 237903 and Suncorp Portfolio Services Limited ABN 61 063 427 958 AFSL 237905 RSE Licence No L0002059 is available at
www.asteron.com.au. Before making a decision whether to acquire Asteron Lifeguard all persons should consider the Asteron Lifeguard
Product Disclosure Statement.
Asteron Life Limited ABN 64 001 698 228 AFS Licence No 237903 Level 18 Suncorp Centre 36 Wickham Terrace Brisbane QLD 4000
AS01046 07/07/10 A
6%
Issued July 2010