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Australia: Mental illness claims for under 25's skyrocket

AIA Australia has stated that mental illness is now the biggest claim cause for TPD for clients under age 25. Predominantly for professional and white-collar workers, who are over twice as likely as their blue-collar peers.

"For young Australians from 2013 to 2017, 20 per cent of births were to a mother under 25, and more than 10 per cent to fathers under 25. More than two-thirds of households are also headed up by a person under 25 with debt, with a quarter of under 25s classified as ‘over-indebted’, meaning they have debt worth at least 75 per cent of their assets.”

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