Over half of Australians say their financial health affects their wellbeing

Life’s expensive right now. The cost of living crisis, inflation, and interest rate rises have put a lot of financial pressure on almost everyone.  

According to new research from life insurance provider TAL, over half of Australians (56%) view their financial health as a factor in their overall wellbeing. 

Of the 1,000 people surveyed, 58% say their financial health affects their mental health, and 47% say it affects their physical wellbeing.  

But the good news is that being engaged with your finances can positively impact your overall wellbeing, even for those in poor financial health. 

One way to get more engaged with your finances is to take action to protect your (and your family’s) wealth, in case you’re unable to work or you pass away. 

Income protection insurance can replace some of your income if you can’t work due to injury or illness. 

That means you can focus on getting better, without worrying so much about how you’re going to pay for things like groceries and bills. 

Alternatively, you can compare life insurance, which could help your loved ones financially if you’re no longer around to support them. 

Check out the featured life insurance policy below, or read all about the best life insurance in Australia here.