12 Mar 2013

Pay-outs rise for life and income replacement insurance

10:03 am on 12 March 2013

Personal insurance pay-outs for life insurance and income replacement insurance rose nearly 17% from the previous year to $1.19 billion in the year to December.

The Financial Services Council's quarterly report shows premiums also rose by $120 million to a total of $1.96 billion.

The council says annual income from premiums is expected to reach $2 billion in the next quarter.