Life insurer Asteron has found the age 49 is a “danger year” for clients as it’s the average age Australians are diagnosed with a life‐threatening disease.  

Research by the life insurer has found the average age of taking up trauma insurance protection is 40, but the average age of lapsing cover is 44.

Asteron Life EM Mark Vilo says clients are letting their cover go just before they actually need it.

“Allowing protection to lapse means many clients are unwittingly leaving themselves and their families financially exposed,” he says. 

“Customer education is key and we are supporting advisers to ensure clients understand the value of their trauma cover, especially leading up to and through the danger years.”

Asteron will roll out an adviser support package that includes tools that demonstrate the facts about the average ages of trauma and other major medical events in life and the impact of being left exposed without cover.