Life Insurance Reward Programs

Looking to save or get more benefits on your life insurance? Compare rewards programs from Australian insurance brands.

Competition among insurance providers has lead to an increase in rewards on offer for people taking out cover. There are reduced premiums for:

  • Loyalty
  • Health and wellness
  • Having more than one policy

Review life insurance reward programs

Reward programTypeRewards
Asteron Life Plus Life Insurance Health Reward Program
  • Health and wellbeing
  • Reduction in loadings (if you started with loading due to a high BMI)
AIA Vitality Health Rewards Program
  • Health and wellbeing
  • 12.5% off initial policy payment
  • Up to 50% off flights
  • Shopping rewards including Hoyts vouchers
Comminsure Loyalty Bonus
  • Loyalty
  • Total benefit is automatically increased by 5% at no extra cost
Zurich Life Insurance Rewards
  • Loyalty
  • Family discount up 10%
  • Multi policy discount up to 3.5%
  • Management fee waiver up to $107 per year

Get deals directly from an insurer

Get up to 25% off Virgin Life Insurance

Receive a 25% discount off your premium when you purchase cover over $500,000 in cover.

Get a 15% discount on Insuranceline Life Insurance

Receive a 15% discount when you purchase cover for an amount over $400,000.

Get 10% off Real Life Insurance with Real Reward

After 12 months, receive back 10% of the premiums you've paid with the Real Reward™.

Get 10% off Woolworths Life Insurance

Get up to $1.5 million in life cover and save 10% off your Woolworths Life Insurance premium if you're a Woolworths Rewards member.

No premiums payable for NobleOak Life Insurance in the first month

No premiums are payable in the first month when you purchase NobleOak Life Insurance.

Speak to an adviser about life insurance with customer rewards

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Coverage is the amount of money that you will be paid in the event of a claim. An insurance consultant can help you determine an appropriate amount. Calculator
Provides a lump sum payment if you become totally and permanently disabled and are unable to return to work.
Provides a lump sum payment if you suffer a serious medical condition. Cover can be taken out for 40-60 medical conditions depending on the policy you choose.
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What do I need to do to receive rewards?

Reward programHow do I access these rewards?
Asteron Life Plus Life Insurance Health Reward ProgramYou can review your loading after using the following tools to reduce your BMI:

  • Free Terry White Chemist Health Checks
  • Online tailored health program
  • Personal health coach
AIA Vitality Health Rewards ProgramRewards are based on a points system from accessing the gym and tracking progress using:

  • Free online tools
  • Free Chemmart Health checks
  • Included membership discounts on various gym memberships including Fitness First, Virgin Active and Anytime fitness
Comminsure Loyalty Bonus
  • Must maintain cover for 5 years or more
  • Policy must be bought after 2002
Zurich Life Insurance Rewards
  • Group discounts are dependent on the amount of members.

What types of life insurance rewards can you get?

What kind of rewards program are you looking for?:

  • Loyalty bonuses. Loyalty bonus rewards are a popular reward among Australian insurers and their customers. These bonuses are offered to policyholders who have had their cover for a certain period of time, usually around 5 continuous years or more. This bonus can reward you for brand loyalty by increasing payable life insurance cover at no additional premium. This means you can reduce your sum insured by the bonus amount to lower premiums, yet still maintain the same level of cover. If a policyholder qualifies for the loyalty bonus and decides to add riders to their policy such as trauma cover, the rider benefit will also qualify for the bonus.
  • Healthy life insurance rewards. Stay in good shape to pay less for life insurance, both overall and with additional rewards.For example, the Asteron Life Healthy Plus program will recognise healthy eating, regular exercise and lifestyle as a good way of reducing the chance of illness.Insurance brands recognise that when you take care of your health you are less likely to make claims on preventable diseases and you can thereby enjoy additional rewards. In the case of Asteron Life Healthy Plus you can enjoy up to a 20% premium discount. An increasing number of insurers are offering similar programs, so you can save big by keeping an eye out for them.
  • Multi-policy discounts. Multi-policy covers are available from many insurance providers in Australia. Discounts on premiums can range from 5-25%. You are usually eligible for this if you have more than one insurance policy with the same brand, such as both home insurance and life insurance or two separate car insurance policies. This discount might apply to only the most recent policy, or all of them. Most Australian life insurance brands offer multi-policy discounts of some sort. It may be worth looking at your home or car insurance provider for a good life insurance policy.
  • Family Discount. There are family discounts to enjoy when members of the same family take out insurance policies. This includes spouses, siblings, parents, children, adoptees and any other member of your immediate family. This bonus takes the form of a premium discount and is usually available to almost all immediate family members with bigger discounts for more people with the same insurer. If you’re looking for a life insurance family discount, ask your parents, siblings or children who they’re with and see if it might also be right for you.
  • Life insurance free gifts.

Asteron Life Plus Life Insurance Health Reward Program

Asteron Life is one of only a few insurance providers in Australia to reward their customers effort to living healthier lives through their Health Plus program. Asteron understands that when you exercise, you are less likely to make claims on preventable illnesses. When you look after yourself by exercising and eating right, both your body and your insurer can reward you.

The award-winning Asteron Life Healthy Plus Option can offer reduced premiums, but you’ll have to follow a few steps and fulfill health and lifestyle criteria set by Asteron. Here are the key steps to follow:

  • Step 1: The first step is taking a Q score test. This score compares you to a lineup of one hundred hypothetical individuals in your age group. The first hypothetical person is  the worst case scenario with grave health problems, while the last hypothetical person is in truly great physical shape and fantastic health. The Q Score tells you where you are in that lineup. You need to register online with Asteron to get a Q Score, but you also should bear in mind that it’s more than just a simple quiz. Asteron Life Plus doesn’t just test you, they offer a holistic program backed by expert advice and a range of healthy living tools, not only to assess your Q Score, but also to help you move up the line, maintain and improve your fitness and further reduce your life insurance premiums.
  • Step 2: Once you have a Q Score, you can join the Asteron health program which can even include a personal health coach. They can help you set and achieve realistic goals, which can be anything from losing weight to improving cardio or just generally enhancing your health and lifestyle. Asteron Life Plus is not only for people who are already in great shape, but also for people who really want to get healthy. This is easier with personalised advice, and saving more money as you get into shape can be an incredible motivator.
  • Step 3: The next step is monitoring and maintaining your progress.. Asteron has a suite of tracking tools that they put in your hands to let you take control of your own health and wellbeing. Asteron tracking tools can be used or not used as you desire, but are great for recognising progress. Changes in your diet, smoking habits, drinking, cholesterol level, blood pressure, fitness levels,weight, body mass index (BMI) and your overall Q Score.

You won’t need to go alone with this insurance healthy living program, and it’s more than just an online tool. It also includes 15 minute health checks conducted by Terry White chemist. The check can be booked online by selecting your preferred check-up date, time and location. It includes cholesterol, HDL and blood glucose testing,diabetes checks and important basics like resting heart rate and blood pressure evaluations as well as weight, height and overall BMI.

This information gathered in this testing will be translated into specialist advice tailored to you specifically. Get a better understanding of what your body needs and how your fitness efforts are making a difference, and save money at the same time.

So how much can I save with Asteron Healthy Plus??

Through completion of the Asteron Life program and satisfaction of the Q Score criteria you are rewarded with a 20% discount off your initial premiums. This 20% discount is offered once you apply and qualify, and is effective immediately.

From there you can retain the discount by proactively staying in shape and continuing to take the same tests.If you decide not retake the test your 20% discount will not be withdrawn, but will instead just be lowered by 1% to a minimum of 10% after ten years. If you want to get it back up to 20% later you can reapply and get retested for Q Score. If it meets the requirements your 20% off will be reinstated. Asteron’s Healthy Plus Option is available to both new and existing customers, and might be a good life insurance option for you.

AIA Vitality Health Rewards Program

AIA also has a health rewards program that also encourages policyholders to make better health and lifestyle choices. AIA Vitality can also facilitate healthy living and staying in great shape among members with the its own special AIA Vitality Health Rewards Program. This offers members a wide range of health assessment options to give you a better understanding on how to improve your health, and some extra rewards alongside. You don’t even have to go out of your way to earn rewards. Simple things you are probably doing anyway, like getting vaccinations, going to the gym, having cancer screenings and doctor check ups will earn you points.

These points can be redeemed for a variety of rewards, cash-back offers and premium discounts on your AIA life insurance policy for more money in your pocket. Its guidance program, meanwhile, helps you improve your health with a host of online tools to make healthy eating, regular workouts and keeping track of progress easier and more enjoyable than it might otherwise be. And then there are the wide-ranging discounts and savings from AIA’s numerous partners that open up as you accrue AIA Vitality points. These can be exchanged for free or discounted movie tickets, flights, clothing, electronics, spa treatments, sporting goods and more.

Unsurprisingly, this AIA Vitality wellness program has more than 5 million members worldwide, and is backed by clinical proof that members are enjoying lower healthcare cost when compared to non-members.

Comminsure Loyalty Bonus

Introduced in 2002 and now used by many customers, Comminsure’s loyalty bonus gives policyholders an increase to their payable life insurance cover. If a client has been with Comminsure for 5 years or longer, the insurer will increase their payable life cover, TPD cover, child cover, trauma and terminal illness cover by 5%. It’s a straightforward increase with no extra costs.This can translate into reduced costs and saved money if when policyholders reduce their insured sum by 5% for lower premiums. This way, the loyalty bonus gives you the same amount of cover, simply at a reduced cost.

If a client qualifies for this loyalty bonus and decides to add an additional trauma or TPD rider, the rider will automatically qualify for the loyalty bonus as well. In other words, if the client makes a claim on a trauma condition, any claim for life care in the future will automatically qualify for a 5% bonus.

Zurich Life Insurance Rewards

Zurich life insurance policy options has a number of rewards programs in place to benefit policyholders:

  • Family discount: Zurich’s family discount offers good savings for family members that decide to take up life insurance policies for them. Family members may be spouses, parents, their children and siblings as well. The more family members that take policies with Zurich life insurance policies, the greater the premium discounts they receive.
  • Multi-cover discount: This multi-cover/multi-policy discount applies when you take out more than one cover within a policy or when you are covered by multiple policies. For example, a life insurance policy with a TPD rider would qualify, as would separate life insurance, with or without riders, and a home insurance policy from Zurich. The bonus is in the form of straight up premium discounts and can be 5% off each relevant policy..
  • Management fee waiver: Zurich may also offer to waive your management fees. If you apply for multiple policies at the same time, then most providers would charge a separate fee for each. Zurich, however, may only charge one. This isn’t just for applications, but also ongoing fees such as a monthly account management. For example, if you take out both Zurich Protection Plus and Zurich Income Replacement policies, then you might get the $8.40 monthly management fee waived for the protection plus policy, saving you over a hundred dollars a year.

Find life insurance rewards from Australian brands

Increased competition among insurance providers in Australia has meant that insurers are forced to diversify not only their product range, but also the discounts, bonuses and rewards they offer. Taking the time to compare the different rewards programs that are offered by insurers in Australia may not only save you on the premium you pay but give you access to excellent health programs and lifestyle benefits. An insurance adviser can help you find a rewards program that works for you, and receive quotes.

Find Life Insurance Policies Offering Customer Rewards

Richard Laycock

Richard is the senior insurance writer at and is on a mission to make insurance easier to understand.

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