This week, Tom Cincotta from Comminsure shared statistics around CommInsure retail Lump Sum numbers for the last financial year. (July 2010 to June 2011)

We all know there is an Underinsurance gap in Australia, but if you ever wanted substantial proof, look at the numbers below.

Death : Claims paid $111.96m across 654 policies; averaging $171,192

TPD : Claims paid $19.32m across 113 policies; averaging $170,392

TRAUMA : Claims paid $77.72m across 456 policies; averaging $170,466

Given the average housing debt is approximately $350,000, the CommInsure claims statistics highlight a massive Underinsurance issue!