The hidden safety net bigger than some national economies
We don’t often stop to think about how powerful insurance really is — until life changes unexpectedly. Whether it’s an illness, injury, or worse, your insurance is meant to be the financial safety net that catches you when things go wrong. But here’s the thing — the safety net only works if it’s in place and strong enough.
In Australia, the life insurance industry has quietly paid out an astonishing $17 billion in claims over the past five years — covering life insurance, Total and Permanent Disability (TPD), income protection, and trauma.
To put that in perspective — $17 billion is equivalent to the entire annual GDP of countries like Montenegro or The Bahamas. That’s an entire nation’s economy paid out to Australians in times of need.
Why does this matter?
Because behind every dollar paid out is a family spared financial ruin — a mortgage saved, children’s futures secured, medical bills covered.
And yet, despite the sheer scale of these payouts, research shows that:
✅ 95% of Australian families with dependent children are underinsured for life cover (Lifewise/NATSEM Report).
✅ 42% of cancer patients in Australia experience financial hardship during treatment (Cancer Council).
Far too many people still don’t review their policies — or worse, don’t have any cover in place at all.
Real Stories Drive Us
I have experienced this first-hand. Watching both my uninsured parents face serious health crises — with no financial protection — shaped my mission to make sure others don’t go through the same.
“It’s not just numbers — it’s your home, your kids, your future. Insurance is there to give you breathing space when you need it most.”
How We Help — Every Step of the Way
Our job doesn’t stop when the policy is signed. We’re there when it matters most:
✅ We review your current cover — is it still enough for your life now?
✅ We help you structure cover — like funding some cover through super to ease cashflow pressures
✅ We handle the paperwork — because when life turns upside down, the last thing you should worry about is forms
And yes — we walk the claims journey with you, side by side, making sure you and your family are looked after when it counts.
Final Word — Check Your Net
The truth is — if $17 billion has been paid out already, we know it works. The question is — is your safety net ready? Or are you hoping you’ll never need it?
Let’s make sure you’re covered.
Call My Financial Mentors for a no-pressure chat and a review of your current cover — whether you have insurance in place or not.
Because when life happens, you want more than just a policy. You want someone in your corner.
Daniel Degrassi
My Financial Mentors