Life insurance brand ratings

View recent awards and ratings for Australian life insurance brands.

With a variety of life insurance providers and policies, it can be difficult to determine which provider to choose to take your cover with.

Independent entities such as Standard & Poor’s often give annual reviews to Australia’s life insurance companies. Remember that these are just reviews and should not be viewed an industry-wide ratings of the “best” or “top” life insurance providers.

It is important to note that life insurance company ratings should not be the only indicator of whether or not the policy is suited to your needs, as the features and benefits may vary significantly between providers. Always make sure that you read the PDS carefully to determine the suitability of the policy to your personal circumstance.

Finder Life Insurance awards for 2019

Award Brand winner Details of the award

Best life insurance

Picture not describedNobleOak NobleOak Life Insurance took out the award for it's strong set of features and competitive pricing.
Best income protection insurance Virgin money logo

Virgin

Virgin Income Protection took out the award for it's flexible policy structure to suit different needs.

See our full awards list and methodology here.

Customer satisfaction ratings

In a study of the 13 largest life insurance brands, Roy Morgan (research group) found Insuranceline as the brand with the highest customer satisfaction rating.

Life insurance brand 2017 2016 Difference
Insuranceline 79.2% 73.80% +5.4%
Allianz 75.2% 73.20% +2%
AIA Australia 73.2% 66.60% +6.6%
Real Insurance 72.6% 71.40% +1.2%
Suncorp Insurance 72.2% 72.10% +0.1%
Westpac 69.6% 69.70% -0.1%
TAL 67.6% 67.30% +0.3%
MLC 66.9% 67.50% -0.6%
Asteron 65.9% 78.10% -12.2%
AMP 65.1% 66.10% -1%
CommInsure 64.2% 68.40% -4.2%
OnePath 63.4% 67.10% -3.7%
Zurich 60.9% 70.80% -9.9%

Roy Morgan Single Source (Australia) December 7 2017

Life insurance landscape in 2017: Which company has the greatest market share?

Based on 'risk lump sum inflows' AMP has the largest market share as of March 2017.

Company Market Share
AMP Group 15.80%
MLC Life Insurance 13.40%
Onepath Australia Group 12.20%
TAL Group 11.10%
CommInsure Group 10.90%
BT / Westpac Group 10.20%
Suncorp Group 7.60%
Zurich Group 6.70%
AIA Australia 5.80%
ClearView Life 1.90%
Others 4.30%

Strategic Insight 2017

Past awards for life insurance brands

Life Insurance Brand Awards Received in 2015 / 2014
Asteron
  • 2014 Winner -FSC Life Insurance Awards- Asteron Life won the William Roberts Lawyers Consumer Innovation Award for their Smarter Years campaign.
AIA
  • 2015 Winner - Life Insurance Company of the Year Award - The Australian and New Zealand Institute of Insurance and Finance (ANZIIF)
  • 2015 Winner - Best Term and TPD Insurance - Money the best of the best
  • 2015 Winner - Best Term and TPD product - AFR Smart Investor Blue Ribbon Awards
  • 2014 Winner - Innovation Award for Best Risk Product - AFA
  • 2014 Winner - Best Term & TPD Product - AFR Smart Investor Blue Ribbon Awards
AMP
  • 2015 Winner - Best Trauma Policy - AFR Smart Investor Blue Ribbon Awards
  • 2014 Winner - Best Trauma Policy - AFR Smart Investor Blue Ribbon Awards
BT
  • 2014 Winner - Risk Company of the Year - Money Management
  • 2014 Winner - Super Risk Term & TPD Rider Product - Money Management
  • 2014 Winner - Super Risk Disability Income Product - Money Management
  • 2014 Winner - Risk Business Overhead Products - Money Management
  • 2014 Winner - Risk Trauma Products - Money Management
CommInsure
  • 2015 Winner - Simply Life - Critical Illness Insurance - Direct Insurance Awards
  • 2014 Winner - Life Insurance Company of the Year Winner -The Australian Insurance industry awards.
  • 2014 Winner - Customer Service Award - Direct Insurance Awards
OnePath
  • 2014 Winner - Income Protection Product of the Year - Smart Investor Awards
  • 2014 Winner - Income Protection Product of the Year - Smart Investor Awards - AFA/Plan for Life Awards
TAL
  • 2015 Winner - Best Term Life/TPD - Association of Financial Advisers (AFA)/Plan for Life Awards
  • 2015 Winner - Income Protection - Money Management
  • 2015 Winner - Best Trauma Insurance -Association of Financial Advisers (AFA)/Plan for Life Awards
  • 2014 Winner - Best Featured Income Protection Insurance - Money Magazine Best of the Best Awards Winner
  • 2014 Winner - Cheapest Income Protection Insurance - Money Magazine Best of the Best Awards Winner
Zurich
  • 2015 Winner - Online Platforms - Brokers on Insurers award
  • 2015 Winner - Training and Development - Brokers on Insurers award
  • 2015 Winner - Product Innovation - Brokers on Insurers award
  • 2015 Winner - Service Quality - AFA / Plan for Life Insurer of the Year
  • 2015 Winner - Underwriting & New business team - AFA / Plan for Life Insurer of the Year
  • 2015 Winner - Business support services & BDM team - AFA / Plan for Life Insurer of the Year
  • 2015 Winner - Lewers Benchmarking - Reputation
  • 2015 Winner - Financial Services Council - Big Thinking Award
  • 2015 Winner - Best Featured Income Protection Insurance - Money Magazine's Best of the Best Awards
  • 2014 Winner - General Insurer of the Year - National Insurance Brokers Association (NIBA)
  • 2014 Winner - Insurer of the Year - Brokers on Insurers Survey
  • 2014 Winner - Insurer of the Year - Service Quality -AFA / Plan for Life
  • 2014 Winner - Big Thinking Award - Financial Services Council
  • 2014 Winner - Reputation - Beaton Benchmarking
  • 2014 Winner - Direct Life Insurance Excellence Award for Term Life - Plan for Life

It is important to note that life insurance company ratings should not be the only indicator of whether or not the policy is suited to your needs, as the features and benefits may vary significantly between providers. Always make sure that you read the PDS carefully to determine the suitability of the policy to your personal circumstance.

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Get quotes

Compare Life insurance quotes from these direct brands

Name Product Maximum cover Maximum Entry Age Minimum Sum Insured Cooling-off
(days)
Expiry Age Short Description
$1,000,000
60
$100,000
30
99
Get life cover up to $1 million.
$15,000,000
69
$50,000
30
99
Get two months free when you combine life insurance with another type of cover. T&C’s apply. Ends 20 December 2019.
$1,000,000
64
$100,000
30
No expiry age as long as premiums are paid
Get a refund of 10% of the premiums you've paid (in the first 12 months) with The Real Reward™.
$1,500,000
65
$3,000
30
80
Choice of cover options and flexible premiums to suit your budget. No lock-in contracts and fast application.
$1,500,000
65
$100,000
30
No expiry age as long as premiums are paid
Get life cover up to $1.5 million. Plus, ahm health members can save 10% off premiums.
$1,500,000
65
$100,000
30
No expiry age as long as premiums are paid
Get a quote & you could win a $1,000 eftops Gift Card. Offer ends 19 January 2020. T&C's apply.
$1,000,000
65
$100,000
30
80
Receive one month's premiums off every year if you pay annually upfront. T&C’s apply.
$1,500,000
69
$50,000
30
99
Receive a 10% discount on the second person when two applications are submitted at the same time, and both policies are issued.
$2,000,000
74
$100,000
30
100
Get life cover up to $2 million.
$1,500,000
65
$100,000
30
99
Take out a policy and get a $100 bonus gift after holding cover for 2 months. T&C's apply. Ends 31 March 2020.
$1,500,000
64
$100,000
30
No expiry age as long as premiums are paid
Cover up to $1.5 million with Guardian Life Insurance.

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