The last two years have been among the most challenging in living memory, with the pandemic causing uncertainty and extended lockdowns impacting business confidence across a number of sectors. But Australians’ overall happiness levels have remained surprisingly stable, with the average rating only slightly dipping from the previous year to 6.5 out of 10, according to a survey by NobleOak.
A tribute to the strength and agility of Australians, the report’s authors believe that much of the positivity can be put down to how well the country handled the pandemic.
The findings are contained in NobleOak’s whitepaper ‘Remarkable resilience and the case for optimism’, and found that happiness levels were fairly consistent between the states, with no significant differences between ages or gender.
Taking positive action
Even in turbulent times, life insurance can be important. In fact, NobleOak, who were recently awarded Money Magazine’s inaugural Direct Life Insurance Cover of the Year Award 2022, found that people who took action to protect their loved ones with life insurance tended to rate their happiness higher than the national average.
For those with direct life insurance, 82% rate their happiness at six out of 10 or more; for those with non-direct life insurance, it’s 77% but for those without life insurance it’s only 64%. To see the full results, scan the QR code below.
No time for complacency
With the cost of living pressures on the rise, some Australians might be tempted to remove life insurance from their list of expenses - but this could be a dangerous false economy for their family.
“People generally aren’t good at estimating true risks,” NobleOak CEO Anthony Brown says, “and that means we’re easily influenced by media reporting of newsworthy events such as terrorist attacks, while underestimating the risks of the less exceptional events, such as heart attacks.
“People generally aren’t good at estimating true risks.”
“In terms of overall happiness, those who recognise risk but take proactive steps to manage them, such as taking out life insurance, not only feel that they are protecting their loved ones, but are also safeguarding their own happiness.”
Find out more:
NobleOak is the Australian life insurance partner of the CA ANZ Member Benefits Program and provides special offers to members.
To get a quote, visit www.nobleoak.com.au/charteredaccountants or call one of NobleOak’s friendly team members on 1300 041 494 and mention ‘CA ANZ - Chartered Accountants’.
Important information – Please note, cover available to Australian residents only.
The Target Market Determination for NobleOak’s Premium Life Direct insurance is available on our website www.nobleoak.com.au/target-market-determination
NobleOak Life Limited ABN 85 087 648 708 AFSL No. 247302 issues the products. This information is of a general nature only and does not take into consideration your objectives, financial situation or needs. Always consider the Product Disclosure Statement (PDS) (available on our website) to see if the product is right for you.