Life Insurance Blog

Research conducted by Pinnacle uncovered a cynicism about life insurers and claims payments. We put minds to rest and explain our 99.3% claims rate statistic.

For some, car insurance may well be cheaper than life insurance. But we don’t think it’s as obvious as ‘of course it’s cheaper.’ This is just one of the assumptions about life cover that stop people from finding out more and doing something about getting themselves covered.

CFFC (Commission for Financial Capability) surveyed 3132 New Zealanders between January to June 2020. They used questions from an OECD toolkit to measure understanding of financial concepts such as interest, inflation, and risk diversification. Only 22% of all respondents answered all questions correctly, and only half as many women as men answered all questions correctly.

Let’s take a look at five money mistakes Millennials tend to make—and see how they can correct them.