Getting Personal about Personal Insurance

Driver, Tania; Brimble, Mark; Freudenberg, Brett; Hunt, Katherine

Getting Personal about Personal Insurance

Financial Planning Research Journal

Volume 11 (2025): Issue 1 (January 2025)

By: Tania Driver, Mark Brimble, Brett Freudenberg and Katherine Hunt

Open Access

|Jan 2025

Figures & Tables

Interview Participants – Consumers

No. #	Gender	Age	Occupation	Highest level of education	Insurance types currently held
1	Male	25–34	Student and crowd control	Year 12	Contents, car
2	Female	35–44	Art teacher	Bachelor degree	Car
3	Female	45–59	Housewife	Year 10	House, contents, car, life (outside super)
4	Male	35–44	Traffic controller	Year 9	Contents, car, life (outside super)
5	Female	25–34	Child educator (child care)	Cert 4 in child protection	Car
6	Male	25–34	Driver	Cert 2	Car
7	Female	45–59	Airport officer	Year 10	House, contents, car, life, TPD, IP, trauma (all outside super)
8	Female	45–59	Admin assistant	Year 10	House, car, life, TPD (both within super)
9	Female	45–59	Lecturer	Graduate diploma	House, contents, car, TPD (outside super), trauma
10	Female	25–34	Admin officer	Cert 4 in office admin	Contents, car, life, TPD, IP (outside super)
11	Female	25–34	Admin officer	Year 12	Car
12	Male	60–69	Company director	Diploma of fin services	House, contents, car, life, TPD, trauma (all outside super)
13	Male	35–44	Business owner – Subway	Bachelor degree – Business	House, contents, car, business insurance, life, TPD (all within super)
14	Female	35–44	Admin officer	Bachelor degree	House, contents, car
15	Female	25–34	Admin adviser	Bachelor degree	Car
16	Female	25–34	Unemployed	Cert 2	No cover
17	Male	35–44	Academic staff	Master degree	Contents, car, life (within super), IP and trauma (both outside super)
18	Female	25–34	Admin officer	Bachelor degree	Car
19	Male	25–34	Engineer	Bachelor degree	House, contents, car, life, TPD, IP (three within super)
20	Female	45–59	Housewife	Bachelor degree	No cover
21	Male	35–44	Scientist	PhD – marine biology	Car, contents, life (within super, does not coverage)
22	Male	60–69	Pensioner	Bachelor degree –	No cover
23	Male	35–44	Medical doctor	Master degree	House, contents, car, life, TPD (both within super), IP, trauma (outside super)
24	Male	25–34	Plumber	Year 12	House, contents, car, life, TPD, IP (three within super)
25	Male	18–24	Student - uni	Year 12	Car, contents
26	Female	35–44	Beautician	Cert 4	House, contents, car, life (within super, does not know coverage)
27	Male	45–59	Nurse	Bachelor degree	House, contents, car, life, TPD (both within super, does not know coverage)
28	Male	25–34	Medical doctor	Bachelor degree – medicine	House, contents, car, life, TPD (both within super)
29	Male	35–44	Project manager	Master degree	House, contents, car, life, TPD (both within super), IP (outside super)
30	Female	45–59	Hairdresser	Year 12	Contents, life (within super, does not know coverage)
31	Male	35–44	Dentist	Bachelor degree	House, contents, car, life, TPD, IP (three within super)
32	Male	45–59	Business owner – Restaurant	Bachelor degree	House, contents, car, business, life, TPD, IP (three within super)
33	Female	35–44	Business owner – Hairdressing	Cert 4	House, contents, car, business, life, TPD, IP (three within super)
34	Male	45–59	Veterinarian - business owner	Master degree	House, contents, car, business insurance
35	Female	25–34	Lecturer	PhD – finance	House, contents, car, life, TPD, IP (three within upper)
36	Male	45–59	Business owner	Year 12	House, contents, car, business insurance
37	Female	18–24	Bank teller	Year 12	Car, contents, life, TPD (both within super, does not know coverages)
38	Male	35–44	Lawyer	Master degree	House, contents, car, life, TPD, IP (three within super), trauma (outside super)
39	Female	60–69	Pensioner	Bachelor degree	House, contents, car
40	Male	18–24	Sales assistant	Year 12	Car, contents

Interview Participants – Informed participants (financial advisers)

Respondent #	Gender	Employment Type
1	Male	Bank employee
2	Male	Bank employee
3	Male	Bank employee
4	Male	Bank employee
5	Male	Private FP firm, owner
6	Male	Private FP firm, employee
7	Female	Bank employee
8	Male	Bank employee
9	Male	Bank employee
10	Female	Bank employee
11	Female	Private FP firm, employee
12	Male	Bank employee
13	Male	Bank employee
14	Female	Private FP firm, employee
15	Male	Bank employee
16	Female	Bank employee
17	Female	Private FP firm, employee
18	Male	Bank employee
19	Male	Bank employee
20	Female	Private FP firm, employee
21	Male	Private FP firm, owner
22	Female	Bank employee
23	Female	Private FP firm, employee
24	Male	Private FP firm, employee
25	Female	Private FP firm, employee
26	Female	Bank employee
27	Male	Private FP firm, employee
28	Male	Bank employee
29	Male	Private FP firm, owner
30	Female	Private FP firm, employee

Interview Participants – Consumers: Insurance types and method of holding insurance

Insurance type	Ownership within a superannuation fund	Ownership outside a superannuation fund	Total
Life insurance	18	5	23
TPD insurance	14	4	18
IP insurance	9	5	14
Trauma insurance	Not offered within a superannuation fund	6	6
House/building insurance	N/A	23, which represents 100% of those who owned a house	23
Contents insurance	N/A	31	31
Motor Vehicle insurance	N/A	36	36

DOI: https://doi.org/10.2478/fprj-2025-0003 | Journal eISSN: 2206-1355 | Journal ISSN: 2206-1347

Journal RSS Feed

Language: English

Published on: Jan 29, 2025

Published by: Financial Advice Association of Australia

In partnership with: Paradigm Publishing Services

Publication frequency: 2 issues per year

Keywords:

insurance and financial literacy,

financial planning,

personal insurance,

life insurance,

total and permanent (TPD) insurance,

trauma insurance,

income protection (IP) insurance

Related subjects:

Business and economics,

Political economics,

Economic theory, systems and structures,

Business management,

Business management, other,

Industries,

Banks, financial service provider, insurers

© 2025 Tania Driver, Mark Brimble, Brett Freudenberg, Katherine Hunt, published by Financial Advice Association of Australia
This work is licensed under the Creative Commons Attribution 4.0 License.

Previous article Volume 11 (2025): Issue 1 (January 2025)Next article