Australian Life Insurance Sector Set for Significant Growth

Economic Recovery and Aging Population Drive Demand for Life Coverage

The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.

This growth, representing a compound annual growth rate (CAGR) of 3.9%, is driven by factors such as economic recovery, an aging population, and heightened public awareness of health and financial planning, according to recent analysis by GlobalData.

For tradespeople, this trend underscores the importance of evaluating life insurance options to ensure financial security for themselves and their families. As the market evolves, tradies should consider:

Reviewing existing life insurance policies to ensure they align with current financial goals and family needs.
Exploring new products and coverage options that may offer better value or more comprehensive protection.
Consulting with insurance professionals to understand the implications of market changes on their personal coverage.

By staying informed and proactive, tradespeople can leverage the growing life insurance market to secure their financial futures effectively.

Published:Tuesday, 23rd Dec 2025
Source: Paige Estritori

Please Note: If this information affects you, seek advice from a licensed professional.

Share this news item:

Insurance News

Australian Insurers Urged to Strengthen Cyber Risk Defenses

23 Dec 2025: Paige Estritori

Recent findings from the PwC Insurance Banana Skins Survey indicate that Australian insurers are trailing behind their global counterparts in preparedness for cyber threats. The survey, which gathered insights from 698 insurance executives across 42 territories, revealed that Australian insurers scored 6.6% lower on the Preparedness Index compared to the global average. - read more

Australian General Insurers Report Record Profits Amid Premium Hikes

23 Dec 2025: Paige Estritori

Australia's general insurance industry has reported a 19% return on equity (ROE) for the 2025 financial year, marking the highest in a decade. This significant achievement is attributed to favourable weather conditions, strong investment gains, and the continued flow-through of premium increases, as detailed in the latest Optima Report by actuarial consultancy Finity. - read more

Australian Life Insurance Sector Set for Significant Growth

23 Dec 2025: Paige Estritori

Australia's life insurance market is projected to experience moderate expansion over the next four years, with gross written premiums (GWP) expected to increase from $26.2 billion in 2025 to $30.5 billion by 2029. This growth, representing a compound annual growth rate (CAGR) of 3.9%, is driven by factors such as economic recovery, an aging population, and heightened public awareness of health and financial planning, according to recent analysis by GlobalData. - read more

Click for more Insurance News

Trades Insurance Articles

Why Tradies Need Tailored Insurance Coverage: A Comprehensive Guide

In Australia, a 'tradie' is a commonly used term for someone working in the trades, such as plumbers, electricians, builders, or carpenters. Tradies play a vital role in maintaining and improving our homes, businesses, and infrastructure. - read more

Step-by-Step Process for Tradespeople to Submit an Insurance Claim

Welcome to our guide on the step-by-step process for tradespeople to submit an insurance claim. Navigating the insurance claim process can often be daunting, especially for busy tradespeople who are focused on their day-to-day operations. In this article, we'll walk you through each stage, making the process simple and straightforward. - read more

What Types of Insurance Does Every Australian Tradie Need?

Public liability insurance is a type of cover that protects businesses and their owners from the financial risks of liabilities that may occur due to damage or injury to a third party. For tradies in Australia, this insurance is crucial due to the nature of their work environment. Working on various sites and handling different tasks increases the likelihood of accidents happening, which makes this type of insurance not only relevant but essential. - read more

Knowledgebase

Deductible:
The amount you must pay out-of-pocket for expenses before your insurance company covers the remaining costs.

This website is owned and operated by Clark Family Pty Ltd (ACN 010 281 008) as Trustee for the Clark Family Trust (ABN 35 957 893 714), 43 Larch Street Tallebudgera QLD 4228. Clark Family Pty Ltd is an Authorised Representative (AR 1298860) of Unique Group Broker Services Pty Ltd (AFSL 509434) for financial product referrals and an Authorised Credit Representative (ACR 401491) of Saccasan Pty Ltd (ACL 386297). Check our licensing details on the ASIC registers: Clark Family Pty Ltd ACR, Clark Family Pty Ltd AR, Saccasan Pty Ltd, Unique Group Broker Services.

IMPORTANT: We do not provide financial product advice or credit assistance. We act solely as an introducer and refer enquiries to licensed third-party intermediaries, insurers, and lenders - with whom you can then deal directly. We may receive a fee or commission from these third parties in consideration for the referral. Before any action is taken to obtain a product or service referred to by this website, advice should be obtained (from either the third party to whom we refer you or from another qualified intermediary) as to the appropriateness of obtaining those products having regard to your objectives, financial situation and needs. Whilst we have our own process for validating the legitimacy of our referral partners, you should always verify the credentials of your financial adviser before proceeding with recommendations that they may present. Visit the ASIC website for further information.