Here is some information from the Mind The Gap Forum held in November:
Most people think their home is their most valuable asset when it usually is their lifetime income. So we insure our homes and cars but not our incomes.
Unprompted, most people, 45% of employed 18-64 year olds thought their home was their most valuable asset over a lifetime and only 24% their lifetime income. Told that $50,000 a year over 40 years was $2 million before tax, 46% then said their lifetime income and 29% said their home.
Only 26% of households have someone with Income Protection insurance. In New Zealand:
- 2 to 3 out of 10 households will have someone with Income Protection insurance.
- 4 out of 10 will have someone with Medical insurance.
- 6 out of 10 will have someone with Life insurance.
- 6 out of 10 will have someone with Home insurance.
- 7 out of 10 will have someone with Household Contents insurance.
- 8 out of 10 households will have someone with Vehicle insurance.