Macquarie Life inforce premiums for the 12 months ending March 31 were $155 million, up 24% from $125 million in the previous year.

Income from the life insurance business for 2013 was up 9% to $63 million from $58 million in the previous year.

Meanwhile, Macquarie Group Head of Banking and Financial Services Peter Maher is to retire after 12 years in the role.

He will be replaced by Macquarie Bank CEO Greg Ward, who will keep his current position while also running financial services.

Banking and Financial Services made a net profit of $335 million in the 12 months to March 31, up 22% on the previous year.

Meanwhile, Macquarie Life is urging advisers to educate their clients about the cost of disease and the need to take preventative measures.

The move comes after the insurer reveals heart attacks, coronary artery bypass surgery and angioplasties represent 14% of its trauma payments, making these the second-highest cause of claims.

Cancer is currently the leading cause of trauma claims, making up 69% of payments.

Macquarie Life Head of Underwriting and Claims Sally Phillips says the total cost per heart attack claim averages $281,000.