People with Life Insurance are Happier than as those Without

Media Release: Thursday, 26 February 2020

People without life insurance rated themselves as far less happy than those with Life Insurance according to the Happiness Index published in the latest findings from NobleOak’s annual Life Insurance industry survey.

Each year respondents are asked to rate their happiness level on a scale of 1 – 10. This year, out of the 1131 respondents, people with Life Insurance and people without Life Insurance rated themselves as similarly happy. However, significantly more people without Life Insurance rated themselves as far less happy: 82 respondents with Life Insurance rated themselves as less happy (scale of 0-5) with 49% more respondents (163) without Life Insurance rating themselves as less happy.

Interestingly, the happiest state is ACT, with 60% ranking themselves as 8 out of 10 for happiness, while only 38% in South Australia rated themselves the same score. South Australia was more than twice as likely as ACT to rate themselves a 3 or below, while Tasmania was the least likely state to rate themselves a 3 or below with only 4%.

It seems age affects happiness too, with 35-44-year olds being the least happy, followed by 30-34-year olds and 45-55-year olds respectively. The older demographic of 55-60-year olds were most likely to rate themselves an 8 or above in happiness.

The full 2020 report is available at https://www.nobleoak.com.au/news-and-media/whitepapers/