Life insurance rewards programs

Premium discounts and frequent flyer bonuses are among the perks of life insurance reward programs.

4 top rewards programs from insurers Top picks
Full market comparison of life insurance rewards Compare side-by-side

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To encourage us to stay fit and healthy, a number of insurers offer life insurance reward programs. Here's what you need to know.

The AIA Vitality program is our top pick. Not only are the potential premium discounts as large as you'd find with any other program, it also offers a ton of valuable lifestyle perks that you can start taking advantage of immediately, like 50% off gym memberships and 25% off fitness trackers (Fitbit, Garmin, etc).

With its online member hub, it offers a wide range of healthy-living resources. Plus, you can climb AIA's status ladder and unlock even more perks.

Compare 4 life insurance rewards programs

AIA life insurance logo

AIA Vitality

  • 15% initial discount on term life, trauma and TPD insurance
  • 7.5% initial discount on income protection and business expense insurance
  • Up to 50% off gym memberships, including at Virgin Active and Fitness First
  • 25% off Fitbit and Garmin fitness trackers
  • Ability to earn gift cards by completing healthy activities

OnePath logo

OnePath/Qantas frequent flyer points

  • Free Qantas Frequent Flyer (FF) membership
  • 1 FF point for every $1 spent on premiums
  • Up to 20,000 frequent flyer points (ANZ only)
  • Be aware. Some life policies are no longer eligible for Qantas points

TAL logo

Health Sense

  • 7.5% discount on term life and TPD insurance
  • Up to 15% discount when bundled with income protection or business expense insurance

ClearView life insurance

ClearView Health Maintenance Reward

  • Score a 10% discount on your first year's term life, TPD, income protection or business expense premiums


AIA life insurance

AIA Vitality

AIA Australia has developed one of the most comprehensive rewards programs out there, offering deep discounts on gym memberships, fitness gear, flights and more. You can join the program for free if you have a life insurance policy from one of their life insurance partners.

The moment you sign up, you could be eligible for enough discounts to fully cover the cost of your life insurance policy and then some depending on your policy. Additionally, you can earn points for the everyday healthy activities you do (which you can then use to claim rewards like vouchers).

What we liked

  • Gym membership discounts including 50% off Virgin Active and Fitness First; 10% off Anytime Fitness
  • Up to 30% off Fitbit and a 25% discount on Garmin fitness trackers
  • 20% off Jaggad athletic wear
  • Money off consultations with an accredited dietician
  • 50% off Hoyts movie vouchers
  • Up to 50% cashback on Virgin Australia and Singapore Airlines flights and, spa treatments based on your membership level
  • Up to $200 in free gift cards (JB Hi-Fi, Woolworths, Dymocks, Myer or Rebel) based on the number of Vitality points you accrue.
  • You also have the chance to donate your active benefit rewards to charity. Or you can choose to save them with Commonwealth.
ProviderReward HighlightsRequirements to join
AIA Vitality
  • 7.5 - 15% initial discount on your premiums with the ability to maintain or increase it year-on-year
  • Up to 50% off gym memberships including Fitness First and Anytime Fitness
  • Up to 30% off Fitbit and Garmin fitness trackers
  • Online health assessments
  • Healthy-living resources
  • Online member portal
  • Buy an eligible term life insurance, total and permanent disability (TPD), trauma, accident or income protection product from a financial adviser or a AIA Vitality partner

How to earn points for better deals

The deals you get just for signing up are great on their own, but you can also earn more perks by going to the gym, completing fitness tests and going in for health check-ups. You start out at the bronze level but can move up to Silver, Gold or Platinum.

Moving up the ranks is also a way to save on your premiums. Everyone starts off with a 15% Vitality discount for life, trauma and TPD insurance ("lump sum" policies) and 7.5% on income protection and business expense insurance ("income stream" policies).

If you don't move up past the Silver status, you'll slowly lose some of that discount over time. With Gold status, you'll keep the discount you have. And with Platinum status, you'll increase your discount by 1% per year, up to 20%.

OnePath logoanz-provider-logo

OnePath/ANZ Qantas frequent flyer points

OnePath knows how much people love their frequent flyer programs, so they went straight to the source. OnePath life insurance customers are automatically eligible for free Qantas Frequent Flyer membership, saving them the one-time $89.50 joining fee. You can also earn 1 Qantas Point for $1 you spend on your life insurance premiums.

This offer is good on all OnePath term life, income protection, trauma, accidental death and total and permanent disability policies. If you buy your policy through ANZ (a OnePath reseller), you'll get a whopping 10,000 bonus frequent flyer points for every eligible policy you buy (capped at 20,000 points).

Reward HighlightsRequirements to join
  • Free Qantas Frequent Flyer membership valued at $89.50
  • 1 frequent flyer point for every $1 spent of premiums
  • Up to 20,000 frequent flyer points if the insurance is purchased through ANZ rather than another OnePath partner
  • Buy an eligible term life, income protection, trauma, accidental death or TPD policy from ANZ.
  • Important note. Since 1 October 2021, Qantas points are "not eligible for select direct life insurance and retail life insurance policies (such as World of Protection)", according to OnePath's website. These include OnePath EasyProtect Income and OnePath EasyProtect Life.

ClearView life insurance

Clearview Health Maintenance Reward

ClearView takes the opposite approach to most other programs because they reward you first and then take it away if you don't follow their health guidelines.

If you buy one of their life, TPD, income protection or business expense policies, you'll automatically get 10% off for the first year.

Every two years, you must fill out a health questionnaire and receive a positive review based on your answers to these questions:

  • What is your current height and weight?
  • Have you seen a doctor in the last three years?
  • Have you recently taken up smoking?

If you don't complete the questionnaire, or if you fail the review, you lose your discount. However, you will not be penalised in any other way.

Reward HighlightsRequirements to join
  • 10% initial discount and further premium savings beyond the first year if you make healthy lifestyle choices
  • Buy an eligible ClearView term life, TPD, income protection or business expense policies from a financial adviser or ClearView reseller

TAL Health Sense

TAL's rewards program is perhaps the simplest one to wrap your mind around: if your body mass index is in the healthy range of 19-28, you get a 7.5% discount on your TAL Accelerated life or TPD insurance.

You can get up to an additional 5% off if you bundle any three of their products together and an additional 2.5% if you buy a fourth product. The products are life insurance, TPD, critical illness and income protection insurance.

All up, you can save 15% for a very little amount of effort.

Reward HighlightsRequirements to join
  • Up to 15% discounts on Life, Critical Illness and/or TPD insurance
  • No tests required
  • You can save for the lifetime of your policy
  • Buy an eligible TAL term life or TPD insurance policy from a financial adviser
  • BMI between 19.0-28.0
  • New customers only

Find life insurance rewards from Australian brands

ProviderMaximum coverKey rewardsMaximum entry age
AAMI life insurance$1,500,000

⭐️ 5% discount on life & income protection policies for existing AAMI customers
⭐️ Everyday savings from major retailers

65

More info

ahm logo$1,500,000⭐️ 10% premium discount for ahm health members65Get quote
insuranceline$1,500,000

⭐️ Receive a $100 Coles gift card when you apply for a life, funeral or income protection insurance policy before 31 March 2022
⭐️ Get 10% more cover at 5 years from your policy commencement

65More info
Medibank$2,500,000⭐️ 10% premium discount for Medibank health members70Get quote
RAC logo$25,000,000

⭐️ 1 month free sign up offer (ends on 31 December 2021)
⭐️ Ongoing discounts from 100+ partners

69

More info

Real$1,000,000⭐️ 10% discount on premiums you have paid in the first 12 months64Get quote
Suncorp$1,500,000

⭐️ 5% premium discount for existing Suncorp Insurance members
⭐️ Everyday savings from a range of major retailers

65More info
Woolworths logo$1,500,000

⭐️ 10% off life insurance premiums for existing Everyday Rewards members
⭐️ 10% off your grocery shop once a month

65More info
Zurich logo$1,500,000⭐️ 10% discount when you add another person to your policy69Get quote
commbank logo no letters$1,000,000

⭐️ Discount till 17 Dec 2021: 20% off your first year's premium
⭐️ 5% partner discount (living in the same household) on AIA life insurance or income protection policies

65More info
HCF logo$1,000,000

⭐️ Discount till 17 Dec 2021: 20% off your first year's premium
⭐️ 5% partner discount (living in the same household) on AIA life insurance or income protection policies

54More info
RACQ life Insurance$1,000,000

⭐️ 10% discount for policies purchased online
⭐️ 5% discount for joint policies
⭐️ Premium discounts when you reach AIA Vitality Silver status

65More info

What are the features of life insurance rewards?

There are several types of rewards offered by some life insurers, including the following:

  • Loyalty bonuses. These bonuses are offered to policyholders who have had their cover for a certain period of time, usually around five years. This bonus can reward you for brand loyalty by increasing payable life insurance cover with no increases in premiums. This means you can reduce your sum insured by the bonus amount to lower premiums, yet still maintain the same level of cover.
  • Healthy rewards. Stay in good shape and pay less for life insurance. For example, schemes may recognise healthy eating and regular exercise as a good way of reducing the chance of illness. In the past, this has included being able to enjoy up to a 20% premium discount if you pass a series of health tests with Asteron.
  • 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 to all of them.
  • Family Discount. Insurers may offer family discounts 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.

After discounts or freebies on your life insurance?

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