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Life Insurance Deals and Discounts October 2020

After a discount on your life insurance cover? Find out what deals are available and how to take advantage of them.


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We’re committed to our readers and editorial independence. We don’t compare all products in the market and may receive compensation when we refer you to our partners, but this does not influence our opinions or reviews. Learn more about Finder .

Before you take out life insurance, find out if there are offers that can help you get the most value for money.

Life insurance deals and discounts from the Finder panel

NobleOak Life Insurance Deals NobleOak Life Insurance Deals

First month free for NobleOak Life Insurance

No premiums are payable in the first month for NobleOak Life Insurance if you buy cover before 30 November 2020.

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Deal ends

AAMI Life Insurance Deals AAMI Life Insurance Deals

5% OFF for existing customers

Existing AAMI car & home insurance customers or family policies can get a 5% discount.

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Real Life Insurance Deals Real Life Insurance Deals

Get 10% of premiums back in the first 12 months

Receive 10% of premiums you’ve paid in the first 12 months with The Real Reward program.

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Zurich Ezicover Deals Zurich Ezicover Deals

One month free

Get the first month free and a 10% discount if you take out a second life insurance policy (discount applies to second policy). T&C’s apply.

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All life insurance deals and discounts

A multi-policy discount usually applies when you combine more than one type of cover (e.g. Income protection with life insurance) with the same provider.

AIAUp to 12.5% discountSpeak to an adviser
BTUp to 5% discount
  • Eligible policies include Term Life, Term Life as Superannuation, Standalone Living Insurance, Standalone TPD, Business Overheads and Income Protection.
Speak to an adviser
MLCUp to 30% discount
  • Discounts depend on the level of cover and the types of policies you combine
Speak to an adviser
OnePathUp to 5% discount
  • You must combined Income Protection with another policy
Speak to an adviser

Data taken from brand product disclosure statements on June 2020. Benefits, conditions and amounts are subject to change at anytime.

A joint policy discount usually applies when you apply for cover either with a spouse or another family member.

ProviderCombined policy discount/Family discountConditionsApply
  • You may receive a discount
Speak to ANZ directly to find out if you're eligible
Zurich Ezicover
  • 10% discount
  • Two applications must be received at the same time
  • Discount applies to the second policy
Get quote
  • 5%
The younger adult receives a discount when you apply on the same policy
  • $3.50 off per month for joint life insurance
  • 5% discount for joint income protection
No conditions stated in PDSMore info
  • You may receive a discount
Speak to Asteron directly to find out if you're eligible Speak to an adviser
  • 10% discount
Available if you link your policy with an eligible family member, business partner or combination of family members and business partnersSpeak to an adviser

Data taken from brand product disclosure statements on June 2020. Benefits, conditions and amounts are subject to change at anytime.

A larger sum discount applies when you purchase cover for a sum over a set amount defined by the insurer.

ProviderHigher cover discountConditionsApply
Virgin25% discount available for any cover above $500,000Premiums must be paid within 30 days of the due dateMore info
AIAUp to 30% discountSize of discount depends on the amount of cover insured and the type of cover that's insured.Speak to adviser
ClearViewUp to 25.5% discountSize of discount depends on the amount of cover insured and the type of cover that's insuredSpeak to adviser
OnePathYesSize of discount depends on the amount of cover insured and the type of cover that's insured.Speak to adviser

Data taken from brand product disclosure statements on June 2020. Benefits, conditions and amounts are subject to change at anytime.

What types of deals and discounts are available?

Loyalty discounts

Loyalty discounts are offered by almost all insurers if you keep your insurance with the same provider for more than one year. Discounts start at 5% and can go up to about 15% when you stay for a significant period of time e.g. 25 years. Conditions are as follows:

  • You must hold policies with the insurer for more than two years in order to benefit.
  • The discount increases each additional year the policy is held.

Loyalty discounts are applied to any existing or new policies. For joint policies, the discount is calculated based on the partner who has the longest existing relationship with the provider. Businesses are treated as a separate entity, so your personal insurance policies won’t contribute to loyalty discounts for a business in your name.

Rewards programs

Just like supermarket and airline rewards programs, some life insurance products allow you to collect reward points. These programs allow you to accumulate discounts on life insurance payments or accumulate points towards other rewards programs e.g. frequent flyers.

Key features:

  • Provides benefits when you take out an insurance policy.
  • You may be able to contribute points to any existing rewards programs you have with financial institutions or airlines.
  • Can include special deals for movie tickets, flights or experiences.
  • Bonus insurance benefits or cover may be awarded if you hold your policy for multiple years.

Multi-policy discounts

Most large insurance companies that offer a range of products will give you a discount when you take out more than one policy. Discounts start at around 5% and increase to about 15% for 10 or more policies.

Key features:

  • Policies can be for the same or different types of cover for items such as cars, home, life and travel.
  • To get the maximum discount you may need to hold policies for more than 25 years.

While life insurance policies might count towards discount eligibility, they may not be discounted themselves. For instance, if you take out life and car insurance with the same insurer, you might get a discount on the car insurance, but not necessarily on the life policy.

Businesses are treated separately for multi-policy discounts, so policies for a business cannot contribute to a discount for personal policies. However, a multi-policy discount can be combined with loyalty discounts, so you could get a total discount of up to 25% for 10 or more policies and a 25-year or longer relationship.

Joint cover discounts

Couples or families who take out a policy together may be able to get a joint cover discount. As the cost of insuring a couple is less than for a single individual, you should get a discount when purchasing your policy.

Key features:

  • Joint cover can be taken out for a family as well as with a partner.
  • The policy must include everyone’s name at the time it is established.

When taking out joint cover, additional discounts are based on the loyalty benefit of the policy member who has the longest relationship and most policies with the company. For instance, if one partner has held multiple policies for many years, then the loyalty and multi-policy discount for the joint policy will be calculated based on that person's discount eligibility. However, the other partner can include the joint policy for any future discount eligibility.

Free life insurance for first month

Some insurers offer free life insurance cover for the first month. You still have the same level of cover during the premium-free period, but payments aren’t taken until the second month.

Key features:

  • You don’t pay a premium for the first month of cover.
  • In some instances, you will be refunded a months worth of cover after holding the policy for 12 months.
  • You can still benefit from other discounts, such as multi-policy of loyalty discounts, when you become eligible for them.

Large-sum discounts

If you purchase a large amount of cover, you may get a further discount. These can be up to 30% for amounts over $500,000.

Key features:

  • Discounts range from roughly 10% for $300,000 to 30% on an insured sum of $500,000.
  • They can be combined with other discounts such as joint policy, loyalty and multi-policy if applicable.

Regardless of any discounts available, you should always compare the prices and inclusions of of a range of policies before purchasing. There might be one that better suits your needs, even without a discount.

Insurance Wellness programs

AIA VitalityAIA Vitality

What is AIA Vitality?

AIA Vitality is a program that encourages AIA members to live fitter and healthier lifestyles. AIA Vitality, launched in November 2013, offers its members the knowledge, motivation and tools to improve their health. Members are rewarded with discounts from commercial partners as they earn Vitality points as their health improves. Additionally, participation in the program can result in discounts on life insurance premiums. Currently, AIA offers savings when you submit workout data from:

  • Polar. Earn up to 100 Vitality Points.
  • Fitbit. Save 25% on the RRP of you Fitbit and upload your workout data to earn up to 100 Vitality Points.

Other devices you can earn points up to 100 Vitality Points include: Garmin

You can also download the AIA Vitality app to help track your progress. The app allows you to log your food, workouts, calorie budget and monitor your BMI and weight.

What do I get as a member?
AIA's PartnersBenefits
TerryWhite Chemmart, Amcal and GuardianGet a free AIA Vitality Health Check
Accredited Practising DieticianSave up to 50%
Vitality Active BenefitsBoost Juice vouchers
GarminSave up to 25%
VirginUp to a 50% discount off domestic and international fares
Jaggad Life AthleticSave up to 30%
HoytsUp to 6 discounted memberships a month
Endota SpaUp to 50% off
Shopping RewardsUp to $650 gift cards
JawboneSave up to 20%
Step Into Life40% discount
Flight BenefitDiscounted flights
Anytime Fitness10% off the club monthly fee and 50% off the joining fee
Allan Carr's Easy Way to Stop Smoking Courses30% discount off the retail price and a further 70% cashback after attendance
Fitbit25% discount
AIA Premium Discounts

Membership of the AIA Vitality allows you to get discounts on your insurance premiums. You'll be eligible an introductory discount of up to 7.5% off your first years' life, TPD or trauma premiums. As you progress, the discount for each subsequent year will vary depending on the status of your Vitality membership.

In order attain the top discount, which is capped at 20%, you must reach Platinum status.

There is an added cash back bonus, which is assessed every five years. This bonus may mean you are eligible to receive a refund of 2-10% of your annual premium.

Want to know more about the AIA Vitality Program?

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Bupa Living Well

Living Well is a feature on some of the Bupa Extras plans and gives you additional benefits you can use towards the cost of health-related programs. The proviso is that these programs must be part of a health management strategy, which is addressing a specific health concern, and is recommended by a referring healthcare professional.

What types of things can I claim?

You may be able to claim for part of the costs of your:

  • Children's swimming programs
  • Gym memberships
  • Nicotine replacement therapy
  • Pilates
  • Weight management programs
  • Yoga.
Bupa App

Bupa have an app available through the App Store and Google play that you can download for free. This app can help you:

  • Access self-service functions
  • Contact Bupa
  • Find a Bupa store front
  • Get a quote
  • Make an extras claim
  • Order a new membership card
  • Search nearby locations for Members First healthcare providers
  • Update your details
  • View your current cover.

What kind of member benefits can I get?

Bupa's PartnersBenefits
Zone Bowling and Kingpin BowlingBuy one game of bowling or laser tag and get the second game free
Event Cinemas25% off when you buy your movie tickets online
Hoyts Cinema25% off when you buy your movie tickets online
TEGGet ticket upgrades and discounts on a range of concerts, shows and experiences with TEG
RedBalloonFor any RedBalloon experience receive $50 off when you spend $250 or more, or $30 off when you spend $129 or more
Sydney SEA LIFE Aquarium, Melbourne Aquarium and Manly SEA LIFE20% discount on the admission price
Legoland Discovery CentreGet a 20% discount on the admission price to LEGOLAND Discovery Centre in Melbourne.
Illawarra Fly Treetop Adventures and Otway Fly Treetop Adventures20% discount on the admission price
SEA LIFE Sunshine Coast & WILD LIFE Hamilton IslandGet 20% off entry when purchased online
Movie World, Sea World, Wet 'n' Wild, HeartlandGet 15% off admission tickets
New Balance20% off all full priced online products
Garmin20% off a range of Garmin's online products
Goodlife Health Club15% discount on selected memberships
EFM Health Club15% off the monthly membership fee
Speedo20% off full priced Speedo products
Vision Personal TrainingUp to 8 bonus Personal Training sessions and no joining fee when you start a Lifestyle Program
Fitness FirstReceive 10% off new 3 and 12-month Fitness First memberships plus a free fitness program when you join
Trek, Electra, Bontrager10% off Trek & Electra bikes and Bontrager accessories at participating dealers
Marley Spoon$25 off your first 4 boxes
CSIRO Total Wellbeing Diet25% off the CSIRO Total Wellbeing Diet – 12 Week Online Program
Australian National CareUp to 70% off Australian NaturalCare vitamin range
Blackmores30% off selected Blackmores products purchased online
WeightwatchersGet a head start on your health with one month free on selected 3-month plans

Get quotes from these direct brands

Name Product Maximum Cover Maximum Entry Age Minimum Cover Terminal Illness Benefit
Real Family Life Cover
Get a refund of 10% of the premiums you've paid (in the first 12 months) with The Real Reward™ .
NobleOak Life Insurance
First month free for NobleOak Life Insurance. T&Cs apply.
AAMI Life Insurance
Existing AAMI car & home insurance customers or family policies can get a 5% discount.
ahm Life Insurance
ahm Health members can save 10% off premiums.
Guardian Life Insurance
Zurich Ezicover Life Insurance
Get your first month free. T&Cs apply.
Medibank Life Insurance
Medibank health members save 10% every year. T&Cs apply.

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