Life Insurers Urge Government Action on Mental Health Funding

Life insurers in Australia have joined forces with mental health advocates to press the federal government to honour its $1 billion pledge for mental health initiatives.

The Council of Australian Life Insurers (CALI) is among the key signatories of an open letter organized by Australians for Mental Health, urging swift action on funding allocation.

The open letter applauds the Albanese government for its significant financial commitment aimed at enhancing mental wellbeing services across the country. It emphasizes the urgency of activating this funding to enable broader access to mental health care for Australians in need. "A thriving economy relies on a comprehensive approach to mental health as an integral component of national wellness," the letter asserts.

As the government prepares to convene a three-day economic roundtable, the letter calls for a collaborative response to the ongoing mental health crisis. It advocates for enhanced resources in both public and private care systems, focusing on early treatment measures. Additionally, bolstering the mental health workforce is highlighted as a critical area for investment.

Christine Cupitt, CEO of CALI, highlights the economic benefits of prioritising mental health interventions. "Addressing the mental health crisis could emerge as the most impactful productivity reform in Australia this decade," Cupitt states, emphasising the role of life insurers in upholding the nation's financial safety net. However, she notes that people often seek insurance support after depleting other options, making recovery and return to work significantly challenging.

Statistics reveal the gravity of the issue, with mental illness ranking among the top causes of temporary and permanent disability for Australians under 30. The Productivity Commission underscores the economic impact, estimating mental health issues cost the national economy as much as $220 billion annually.

This campaign for immediate governmental action reflects a broad consensus within the financial and health sectors that timely investment in mental wellness is both a societal need and an economic imperative.

Published:Tuesday, 19th Aug 2025
Source: Paige Estritori

Share this news item:

Insurance News

Life Insurers Urge Government Action on Mental Health Funding

19 Aug 2025: Paige Estritori

Life insurers in Australia have joined forces with mental health advocates to press the federal government to honour its $1 billion pledge for mental health initiatives. The Council of Australian Life Insurers (CALI) is among the key signatories of an open letter organized by Australians for Mental Health, urging swift action on funding allocation. - read more

Victorian Resilient Homes Initiative Supported by Insurance Council

18 Aug 2025: Paige Estritori

The Insurance Council of Australia (ICA) has expressed strong support for a Victorian initiative proposing a resilient homes scheme, akin to those currently operating in New South Wales and Queensland. This recommendation emerged from a comprehensive inquiry into climate resilience conducted by Victoria's Legislative Council Environment and Planning Committee, which presented 93 findings alongside 82 recommendations this week. - read more

Broker Ordered to Compensate Client for Uninsured Fire Losses

15 Aug 2025: Paige Estritori

A recent ruling mandates an insurance broker to pay nearly $300,000 in compensation to a client after an insurer, QBE, declined a fire claim and cancelled the policy due to nondisclosures. The fire, which occurred in October 2022, severely damaged the commercial premises. QBE asserted that they would have denied coverage had they known about asbestos on the property, among other unreported issues. - read more

Insurance Claim Denied Due to Evidence of Multiple Collisions

14 Aug 2025: Paige Estritori

An insurance dispute arose when a driver was refused coverage for car damage after evidence showed involvement in multiple collisions, contrary to her claim. Initially, the woman filed a claim with Hollard Insurance, stating her car had collided once with another vehicle. However, the situation took a turn when forensic data from in-car technology revealed two separate impacts occurring 11 minutes apart. - read more

ASIC Considers Action as Professional Indemnity Insurance Transparency Falls Short

12 Aug 2025: Paige Estritori

The Australian Securities and Investments Commission (ASIC) has voiced apprehension about the transparency of professional indemnity (PI) insurance amongst holders of the Australian Financial Services Licence (AFSLs). This concern arises from a recent market overview conducted to analyze PI insurance for AFSLs offering personal advice to retail clients. - read more

Life Insurance Articles

Income Protection vs. Life Insurance: Why You Need Both

Insurance plays a crucial role in safeguarding our financial future. It serves as a safety net, ensuring that we can manage unexpected events without severely impacting our financial stability. For Australian adults, having the right types of insurance coverage is essential for peace of mind and financial security. - read more

How Pre-Existing Conditions Affect Your Income Protection Insurance Options

Income protection insurance is a type of insurance policy designed to provide you with a continuous flow of income in case you are unable to work due to illness or injury. It's a safety net that helps ensure you can maintain your standard of living, even when unforeseen health issues arise. - read more

Understanding Income Protection Insurance: A Comprehensive Guide for Australians

Income protection insurance is an essential component of financial security for Australians, designed to provide a safety net by replacing a portion of your income if you're unable to work due to illness or injury. Despite its critical role in safeguarding livelihoods, it's often overlooked in personal financial planning. - read more

Breaking Down Common Income Protection Insurance Terms

Income protection insurance is designed to provide financial support if you're unable to work due to illness or injury. It aims to replace a portion of your income during such times, ensuring you can maintain your lifestyle and meet financial obligations. - read more

Income Protection Insurance: Balancing Cost with Adequate Coverage

Income protection insurance is a critical safety net for anyone who relies on a steady paycheck to meet their financial obligations and maintain their lifestyle. It offers a replacement income if you are unable to work due to illness or injury, ensuring that your financial responsibilities can be met even when you're not at your earning best. In today's fast-paced world, income protection has become an essential consideration for the modern working individual. - read more

Start Here !

Apply now for your free Insurance assessment and price comparisons!

This website is owned and operated by Clark Family Pty Ltd (as Trustee for the Clark Family Trust) 43 Larch Street Tallebudgera QLD 4228, A.C.N. 010281008, authorised Financial Services Representative of Unique Group Broker Services Pty Ltd, Australian Financial Services License 509434. Visit the ASIC website for additional licensing information.

IMPORTANT: We are neither authorised nor licensed to provide finance or finance products. We do not recommend any specific financial products and we do not offer any form of credit or other financial advice. All product enquiries and requests for financial and/or other advice on this website are referred to third party, qualified intermediaries with whom you can deal directly. We may receive a fee or commission from these third parties in consideration for the referral. Before any action is taken to obtain a product or service referred to by this website, advice should be obtained (from either the third part to whom we refer you or from another qualified intermediary) as to the appropriateness of obtaining those products having regard to your objectives, financial situation and needs.