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Data shows Resolution Life is one of the fastest insurers at resolving life cover claims, and the speediest when it comes to disablement and terminal illness support.
At Resolution Life, we know you rely on us in tough times, trusting us to handle claims sensitively and without delay. So, it’s good to know you can be confident we’ll be there when you need us most.
New data from the Australian Prudential Regulation Authority (APRA) confirms that in 2021 we had the fastest response times in the industry for death and terminal illness claims, taking an average of less than 25 days to process claims, with 97% accepted.1
We were also fastest in the sector for processing total and permanent disablement claims.
We performed better than the industry average for trauma claims, and on the industry average for income protection.
We take great pride in knowing that in the unfortunate event that you need to make a claim, most will be resolved without delay.
We’re equally proud that our claims acceptance rates compare favourably to our competitors.
In 2021, we had the highest acceptance rate in the industry for total and permanent disablement claims and higher than the industry average for income protection.
Resolution Life is one of the largest life insurers in Australia, proudly serving 1.1 million policyholders and beneficiaries.
The following table outlines Resolution Life’s claims performance compared with other major players in the Australian insurance industry in 2021. You can find out more about our claims performance on the Australian Government’s MoneySmart website here.
Cover Type | Claims Acceptance Rate | Average Claim Time (Months) | ||||
Resolution Life | Resolution Life Ranking* | Industry Average | Resolution Life | Resolution Life Ranking* | Industry Average | |
Death & Terminal Illness | 97.1% | 4/8 | 97.1% | 0.8 | 1/8 | 1.5 |
TPD | 89.2% | 1/8 | 82.5% | 5.4 | 1/8 | 7.4 |
Trauma | 85.4% | 6/8 | 86.8% | 1.6 | 3/9 | 1.7 |
Income Protection | 96.3% | 3/10 | 95.0% | 1.6 | 4/10 | 1.6 |
*Ranking is based on our position against the other major insurance providers with the Moneysmart report
[1] APRA, ‘Life insurance claims and disputes statistics December 2021’, 19 April 2022, accessed 22 August 2022.
Any advice and information on this website is general in nature and is provided by Resolution Life Australasia Limited ABN 84 079 300 379, AFSL No. 233671 (Resolution Life), which is part of the Resolution Life Group. Resolution Life can be contacted on 133 731 or via the contact us page. The advice does not take into account your personal objectives, financial situation or needs. Therefore, before acting on the advice, you should consider the appropriateness of the advice, having regard to those matters as well as the relevant product disclosure statement (PDS) or policy document, available from Resolution Life at resolutionlife.com.au or by calling 133 731, before making a decision about the product. Consider speaking to a financial adviser if you have any concerns.
If you decide to purchase or vary a financial product, Resolution Life and/or other companies within the Resolution Life Group will receive fees and other benefits, which will be a dollar amount or a percentage of either the premium you pay or the value of your investments. You can ask us for more details.
Life Insurance Code of Practice
The Life Insurance Code of Practice is issued by the Financial Services Council (FSC) and sets out the life insurance industry’s commitment to high customer service standards, consistency and principles of conduct.
As a member of the FSC, Resolution Life supports the Life Insurance Code of Practice. You can find more information here.