Life insurance brand ratings

View recent awards and ratings for Australian life insurance brands.

Last updated:

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

AwardBrand winnerDetails of the award

Best life insurance

Picture not describedNobleOakNobleOak Life Insurance took out the award for it's strong set of features and competitive pricing.
Best income protection insuranceVirgin 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 brand20172016Difference
Insuranceline79.2%73.80%+5.4%
Allianz75.2%73.20%+2%
AIA Australia73.2%66.60%+6.6%
Real Insurance72.6%71.40%+1.2%
Suncorp Insurance72.2%72.10%+0.1%
Westpac69.6%69.70%-0.1%
TAL67.6%67.30%+0.3%
MLC66.9%67.50%-0.6%
Asteron65.9%78.10%-12.2%
AMP65.1%66.10%-1%
CommInsure64.2%68.40%-4.2%
OnePath63.4%67.10%-3.7%
Zurich60.9%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.

CompanyMarket Share
AMP Group15.80%
MLC Life Insurance13.40%
Onepath Australia Group12.20%
TAL Group11.10%
CommInsure Group10.90%
BT / Westpac Group10.20%
Suncorp Group7.60%
Zurich Group6.70%
AIA Australia5.80%
ClearView Life1.90%
Others4.30%

Strategic Insight 2017

Past awards for life insurance brands

Life Insurance BrandAwards 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

Updated February 18th, 2020
Name Product Maximum Cover Maximum Entry Age Minimum Sum Insured Expiry Age
Real Family Life Cover
$1,000,000
64
$100,000
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™ .
NobleOak Life Insurance
$15,000,000
69
$50,000
99
Get your first month free. T&C’s apply. Offer ends 27 February 2020.
AAMI Life Insurance
$1,000,000
60
$100,000
99
ahm Life Insurance
$1,500,000
65
$100,000
No expiry age as long as premiums are paid
ahm Health members can save 10% off premiums.
Zurich Ezicover Life Insurance
$1,500,000
69
$50,000
99
Get your first month free. T&Cs apply.
Medibank Life Insurance
$1,500,000
65
$100,000
No expiry age as long as premiums are paid
10% discount for Medibank health members.
Guardian Life Insurance
$1,500,000
64
$100,000
No expiry age as long as premiums are paid

Compare up to 4 providers

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