Resolution Life claims paid 2024

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.

Claims summary

We manage a wide range of claims, based on the variety of products and customers’ policies.

Summary of Resolution Life's overall insurance claims

Our claim's philosophy

At Resolution Life, we are committed to being there for our customers to help them when they need us most. Our approach to claims is to support our customers, be transparent and caring throughout your claims journey, ensuring you feel guided and supported at every step of the way.

How to make a claim

Learn more about how to make a claim with us and what to expect throughout the process. Our goal is to ensure you feel guided and supported at every step. Visit our website to find information on lodging a claim, what documentation is needed to support your claim and our timeline to process your claim.

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 claims: males vs females

Comparing life insurance claims against males and females. The top six claim types for males are 25% Heart attack, stroke, and other circulatory diseases. 17% Cancer – other. 15% Respiratory system disease. 12% Other and 6% Accidents and injuries. The top six claim types for female are 21% Cancer – other. 18% Heart attack, stroke, and other circulatory diseases. 13% Respiratory system disease. 10% Other and 5% Nervous system disease.
In 2024, 78% of males had a claim in the top six categories. We also had 72% of females with claims in the top six categories.

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

¹Causes 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

Summary of TPD claims paid. Mental health disorder is 25%. Musculoskeletal is 22%. Accidents and injuries are 13%. Other conditions are 13%. Nervous system disease is 13%. Cancer – other is 8% and heart attack, stroke and other circulatory diseases is 6%. This equals 100%.

TPD claims: males vs females

Comparing TPD claims against males and females. The top six claim types for males are 24% mental health disorders. 21% musculoskeletal. 16% is accidents and injuries. 11% nervous system diseases. 8% is heart attack, stroke, and other circulatory diseases. 5% Cancer – other. The top six claim types for females are 26% mental health disorders. 24% musculoskeletal. 17% nervous system disease. 10% for accidents and injuries. 5% cancer – other and 4% for other claim types.
In 2024, 74% of males had a claim in the top six categories. We also had 86% of females with claims in the top six categories.

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.

²Prevalence 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 claims: males vs females

Comparing trauma claims against males and females. The top five claim types for males is 32% heart attack, stroke and other circulatory diseases. 25% cancer – other. 20% cancer – prostate. 7% cancer – bowel and 6% nervous system disease. The top claim types for females is 45% cancer – breast. 21% cancer – other. 8% heart attack, stroke, and other circulatory disease and 4% cancer – lung.
In 2024, 90% of males had a claim in the top five categories. We also had 83% of females with claims in the top five categories.

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.

³Breast 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

Summary of income protections claims paid. Mental health disorders is 23%. Musculoskeletal is 21%. Accidents and injuries is 12%. Other claim types are 12%. Cancer – other is 7%. Cancer – breast is 2%. Cancer – bowel is 1%. Cancer – prostate is 1%. Cancer – melanoma is 1%. Nervous system disease is 10%. Heart attack, stroke and other circulatory diseases is 6%

Income protection claims: males vs females

Comparing income protection claims against males and females. The top xis claims types for males is 22% musculoskeletal. 21% mental health disorders. 14% accidents and injuries. 9% nervous system disease. 7& heart attack, stroke and other circulatory diseases and 7% cancer – other. The top xix claim types for females are 29%mental health disorders. 18% musculoskeletal. 11% nervous system diseases. 8% cancer – breast. 6% cancer – other and 6% accidents and injuries.
In 2024, 80% of males had a claim in the top six categories. We also had 78% of females with claims in the top six categories.

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.

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

What you need to know

Any advice on this website is provided by Resolution Life Australasia Limited ABN 84 079 300 379, AFSL No. 233671 (Resolution Life), and 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 relevant product disclosure statement and/or policy document, available from Resolution Life at resolutionlife.com.au or by calling 133 731, before making a decision on whether to acquire, or continue to hold, the product.

The Target Market Determinations (TMDs) for our financial products (where applicable) can be found at Target Market Determinations (TMDs). The TMDs describe the key features and attributes of an applicable product that affect whether it is likely to be consistent with the objectives, financial situation and needs of consumers in the target market.

Resolution Life is part of the Resolution Life Group and can be contacted via contact us or by calling the phone number mentioned above.

Claims data paid overview for 2024