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In Australia, we’re lucky enough to have one of the best lifestyles in the world. Plenty of sunshine, beautiful parks and beaches, and an abundance of good and healthy food. There’s no reason for Australians to be out of shape.
Unfortunately, despite our blessings, and a pretty good awareness of health and well being, the general state of the Australian population does not seem to be improving.
For a number of years, the most common causes of death in Australia have been heart disease and cancer. Believe it or not, they’re actually becoming more common.
· Cardiovascular disease affects 1 in every 5 Australians and 2 out of 3 Australian families. By 2051, that’s expected to increase to 1 in 4 Australians[1].
· Diabetes is Australia’s fastest-growing chronic disease, with 275 Australians developing the disease every day[2].
While some of this can be attributable to our aging population, it’s also largely due to the fact that many Australians live with a combination of risk factors for chronic disease including poor diet and a lack of physical activity.
The good news is that risk factors such as smoking, lack of exercise, being overweight or excessive alcohol use can be changed. Minimizing these risk factors in our lives can greatly reduce the impact of cardiovascular disease and type 2 diabetes – in fact even a 5% weight loss (eg a 5kg weigh loss in a 100kg person) reduces the risk of heart disease.[3]
As a life insurance specialist, the impact of these illnesses on my clients and their families is something I see every day. And while it’s rewarding to be able to help people recover financially from serious illness, I’d much rather see it not happening in the first place!
Lifestyle changes could save your life … and your wallet
When a life insurance company calculates your premiums, they take into account a number of risk factors – some of these include your age, gender, blood pressure, smoking status, your Body Mass Index (BMI), cholesterol and blood glucose levels.
If you fall into a high-risk category for some of these risk factors, it can be reflected in how much you pay for your insurance each year. These additional costs are called ‘loadings’.
By making changes to improve your lifestyle, you could reduce your high risk factors for serious illness. You can also ask your life insurance company to re-assess your insurance premiums – potentially reducing or removing your loadings.
Not only are you giving yourself a better quality of life now and in the future, you could also be saving yourself money. More importantly, you’ll be starting some good habits that could stay with you for a long and happy lifetime.
If you’d like to discuss how you can improve your lifestyle, and the potential to reduce the cost of your insurance, make an appointment to come in for a review.
[1] ‘Cardiovascular Disease, 2011, National Health and Medical Research Council, viewed 3 June 2012
[2] ‘Diabetes in Australia’ – Diabetes Australia website, www.diabetesaustralia.com.au
[3]Australian Institute of Health and Welfare: Cardiovascular disease Australian facts 2011
Important note: This information has been prepared without taking into account a potential investor’s objectives, financial circumstances or needs. Before making a decision based on this material, a potential investor should consider the appropriateness of this material having regard to their objectives, financial circumstances and needs. A potential investor should consider obtaining independent advice before making any investment decision and refer to the relevant Product Disclosure Statement (PDS) for the relevant product. Please refer to our Financial Services Guide (available from [website] or by contacting us on [telephone]) for further details about the services provided by us including information about our remuneration and how we manage customer satisfaction.
