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  • Resolution Life claims paid 2024

$954 million

The amount of money we paid in insurance claims

7,121 customers

Number of claim recipients

$2.6 million

Insurance claims paid out on average per day

58

The average age of customers who made a claim

At Resolution Life, our priority is to support our customers and their families in their time of need.
We understand that knowing the type of cover you have and how much you’re covered for is crucial. You can learn more about the types of cover we offer and what else you may need to consider when reviewing your insurance.
 

Summary of Resolution Life's overall insurance claims

Income protection (34%)

Total and permanent disablement (TPD) (30%)

Death and terminal illness (27%)

Trauma (9%)

In 2024, Resolution Life paid out $257m to over 1,356 customers for life insurance claims, which equals $714,818 paid every day.

Summary of life insurance claims

life insurance claim types pie chart

Cancer (29%)

Heart attack, stroke and other circulatory disease (23%)

Respiratory system disease (14%)

Accidents/Injuries (6%)

Digestive system disease (3%)

Infectious disease (3%)

Other (22%)

Top 6 claim types by gender

In 2024, this is the percentage of males and females with claims in the top six categories

Male

Female

Heart attack, stroke and other circulatory diseases 25%Cancer - other21%
Cancer - other17% Heart attack, stroke and other circulatory diseases 18%
Respiratory system disease15%Respiratory system disease13%
Other12%Other10%
Accidents/injuries6%Nervous system disease5%
Cancer - bowel3% Infectious disease5%

 

In 2023, the top 2 leading causes of death registered in Australia were heart disease, dementia (including Alzheimer’s disease) and cardiovascular disease1

1 Causes of Death, Australia, 2023 | Australian Bureau of Statistics Causes of Death, Australia released 10/10/2024.

In 2024, Resolution Life paid out $283m to over 707 customers, which equals to $775,890 paid every day.

Summary of TPD cover claims

Total and permanent disablement claim types pie chart

Mental health disorder (25%)

Musculoskeletal (22%)

Accidents / injuries (13%) 

Nervous system disease (13%)

Cancer (8%)

Heart attack, stroke and other circulatory diseases (6%)

Other (13%)

Top 6 claim types by gender

In 2024, this is the percentage of males and females with claims in the top six categories

Male

Female

Mental health disorders 24%Mental health disorders26%
Musculoskeletal21% Musculoskeletal 24%
Accidents/injuries16%Nervous system disease17%
Nervous system disease11%Accidents/injuries10%
Heart attack, stroke and other circulatory diseases8%Cancer5%
Cancer 5% Other4%

 

In 2021, an estimated 42% of Australians over the age of 55 experienced high blood pressure or hypertension2. This statistic underscores the importance of regular health check-ups and proactive management to maintain cardiovascular health as we age.

2 Prevalence and impact of mental illness - Mental health - AIHW How many Australians have experienced mental illness? Sub heading Age and sex, figure 2: Types of serious illness by age and sex, 2009 to 2021.

In 2024, Resolution Life paid out $87m to over 286 customers for trauma insurance claims, which equals $239,230 paid every day.

Summary of trauma claims

trauma insurance claim types pie chart

Cancer (63%)

Heart attack, stroke and other circulatory diseases (23%)

Nervous system disease (6%)

Musculoskeletal (2%)

Accidents / injuries (1%)

Other (5%)

Top 5 claim types by gender

In 2024, this is the percentage of males and females with claims in the top six categories

Male

Female

Heart attack, stroke and other circulatory diseases32%Cancer - breast45%
Cancer - other25% Cancer - other21%
Cancer - prostate20%Heart attack, stroke and other circulatory diseases8%
Cancer - bowel7%Nervous system disease5%
Nervous system disease6%Cancer - lung4%

 

It’s estimated that 1 in 7 women and 1 in 550 men are diagnosed with breast cancer in their lifetime3. This statistic demonstrates the importance of regular screenings and early detection in order to provide the best chance of effective treatment and improve survival rates.

3 Breast Cancer Statistics in Australia | NBCF

In 2024, Resolution Life paid out $326m to over 4,772 customers for income protection insurance claims, which equals $893,906 paid every day.

Summary of income protection claims

income protection claim types pie chart

Mental health disorders (23%)

Musculoskeletal (21%)

Accidents/injuries (12%)

Cancer (12%)

Nervous system disease (10%)

Heart attack, stroke and other circulatory diseases (6%)

Fractures (4%)

Other (12%)

Top 6 claim types by gender

In 2024, this is the percentage of males and females with claims in the top six categories

Male

Female

Musculoskeletal22%Mental health disorders29%
Mental health disorders21% Musculoskeletal18%
Accidents/injuries14%Nervous system disease11%
Nervous system disease9%Cancer - breast8%
Heart attack, stroke and other circulatory diseases7%Cancer - other6%
Cancer - other7%Accidents/injuries6%

 

In 2021, an estimated 15% of Australians over the age of 55 experienced depression or anxiety4. This statistic shows why mental health support and resources are important, especially for older Australians, to ensure their wellbeing and quality of life.

4 Prevalence and impact of mental illness - Mental health - AIHW How many Australians have experienced mental illness? Sub heading Age and sex.

Important information

Where the information on this website is factual information only, it does not contain any financial product advice or make any recommendations about a financial product or service being right for you. Any advice is provided by Resolution Life Australasia Limited ABN 84 079 300 379, AFSL No. 233671 (Resolution Life), is general advice and does not take into account your objectives, financial situation or needs. Before acting on this advice, you should consider the appropriateness of the advice having regard to your objectives, financial situation and needs, as well as the product disclosure statement and policy document for the product. Any guarantee offered in the product is only provided by Resolution Life. Any Target Market Determinations for our products can be found at resolutionlife.com.au/target-market-determinations

Resolution Life does not make any representation or warranty as to the accuracy, reliability or completeness of material on this website nor accepts any liability or responsibility for any acts or decisions based on such information.

Resolution Life can be contacted at resolutionlife.com.au/contact-us or by calling 133 731.