MetLife Australia will run a national campaign to raise awareness and understanding of group life insurance.

The drive aims to show how default cover in superannuation can provide a valuable safety net. The insurer is working with super fund trustees, and asking them to join the campaign.

“We have been speaking with our super fund partners about how we can work together in true partnership to raise awareness of the importance of this insurance,” CEO Deanne Stewart said. “It’s also not widely recognised that group insurance makes an economic contribution by reducing costs that would otherwise have to be drawn from the public purse.”

Australian Prudential Regulation Authority figures show life insurers paid $8.6 billion in claims last year, taking pressure off the social security system, she says.

“We have spoken with many claimants who were not aware they had insurance until either a friend, a work colleague or a financial adviser told them. We regularly hear from super fund members who tell us this insurance has made a significant difference to their life.”