Life insurance for migrants to Australia

Between the ages of 10 and 60, the mortality of residents born overseas is clearly lower than those born in Australia.

One likely explanation may be the presence of a selection effect for those moving to Australia, known as the ‘healthy migrant effect’ as follows :

1. Healthy people are probably more inclined, and able, to relocate to a new country than those who are not healthy.
2. Those seeking permanent residency must pass minimum health requirements.
3. Many immigrants arrive on a work visa, often a skilled work visa

This is an extract from the Australian Government Centre For Population with a report titled Sub-Group in Jan 2022. Mortality: New Insights Using Australian Microdata. The Centre for Population has commissioned the Australian Government Actuary (AGA) to investigate mortality rates using microdata produced through the Multi-Agency Data Integration Project (MADIP).

The report can be found here.

Unfortunately, at the time of this post, Australian Life insurers do not offer a discount to migrants for new life insurance policies. Contact us to find out more and to get personal advice based on your own circumstances, needs and objectives. This is general information only.

Life insurance and Financial Advice services are provided by Experien Insurance Services Pty Ltd (EIS) ABN 99 128 678 937 and Experien Financial Services Pty Ltd (EFS) ABN 32 631 346 757. EIS and EFS are a Corporate Authorised Representative (No. 320626 and No. 1274354) of Affinia Financial Advisers Limited ABN 13 085 335 397 AFSL No. 237857. See our website for our Financial Services Guide.  Always read the Product Disclosure Statement issued by an Insurer before considering insurance.