NobleOak Life wins Overall Direct Life Insurance Award 2018Read More
The Direct Life Insurance market has remained fairly constant over the last three years, comprising approximately 25 to 30% of the individual risk market despite a significant amount of activity in the sector by Insurance Providers.Read More
Plan For Life's latest Direct Life Insurance Report, shows that year-on-year premium sales for the Direct Life Insurance channel has declined by 3.6% for the 12 months ending December 2014. This is compared to positive growth rates for the five previous years.
The total Australian life insurance industry premium sales, including Lump Sum and Income Protection products, totalled $2,043 million as at end of December 2014, compared to $2,080m at December 2013. Of this, $538 million was via the Direct channel, compared to $558m December 2013.