Our partner NobleOak’s latest annual survey asked respondents a range of questions that revealed managing risks to health, family and finances are among the proactive steps taken by Australians to protect the ones they love leading to overall happiness.
Despite continued disruptions caused by the pandemic, not to mention the emergence of variants throughout the year, Australians are generally positive about the future and much of this is due to strong family connections and planning ahead.
Concerns around risks to health have increase
Following a second consecutive year of COVID disruptions, it is unsurprising that 67% of Australians believe that risks to their health have increased over the past year.
Spending more time with family
The survey results reveal higher levels of happiness among those who increased their family time over the past 12 months, with couples and families significantly happier than singles.
Those who spent more time with family are happier and that the average happiness rating of parents and couples is higher (6.7 out of 10) than those in single households (under 6.0).
Interestingly, those taking positive action to protect their loved ones, such as buying Life Insurance, report higher overall happiness levels. 82% of people with direct Life Insurance and 77% of people with non-direct Life Insurance rate their happiness at 6 out of 10 or more, compared to 64% of those without Life Insurance.
What we would cut back on
When faced with financial strain or income loss, response reveal that Australians are willing to cut back on expenses like holidays (1st) and entertainment (2nd) and cut back on education (5th) before Life Insurance (8th).
Overall happiness remains strong
Despite the upheaval of the past two years, the overall happiness of Australians has remained virtually unchanged since pre-pandemic days (6.5 out of 10 in 2022; 6.7 in 2021; 6.9 in 2020), largely driven by Australians taking positive action to manage the risks they face.
After another year of upheaval and unrest caused by the pandemic, the resilience of Australians is surprising but not unexpected.
To read the full report click here.
Get my quote
To get a quote for Life cover click here. You can also call one of NobleOak’s friendly team members on 1300 041 494 and mention ‘NSWFA’.
Important information – The Target Market Determination for NobleOak’s Premium Life Direct insurance is available on our website www.nobleoak.com.au/target-market-determination
NobleOak Life Limited ABN 85 087 648 708 AFSL No. 247302 issues the products. This information is of a general nature only and does not take into consideration your objectives, financial situation or needs. Always consider the Product Disclosure Statement (PDS) (available on our website) to see if the product is right for you.