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Life Insurance Deals and Discounts January 2020

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

Maurice Thach

Last updated: 13 January 2020

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

10% Family discount

Get 10% off if an immediate family member has an AAMI Life Insurance policy.

Last verified 2 Jan 2020

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Get 1 month free

Apply for Life Insurance and get your first month free. Offer ends 27 February 2020. T&C’s apply.

Last verified 2 Jan 2020

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Deal ends 27 Feb 2020

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.

Last verified 2 Jan 2020

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10% off for ahm health members

ahm health members get a 10% premium discount for the life of their policy

Last verified 2 Jan 2020

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Medibank Life Insurance Deals

10% off premiums for Medibank insurance members

Medibank health insurance members can save 10% off premiums on a life insurance policy.

Last verified 2 Jan 2020

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Get one month's premium free

Receive one month's premiums free if you pay annually. T&C's apply.

Last verified 3 Jan 2020

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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.

Last verified 2 Jan 2020

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InsuranceLine Deals

Get a $100 bonus gift

Take out a life insurance policy and get a $100 bonus gift after holding cover for 2 months. Ends 31 March 2020. T&C's apply.

Last verified 3 Jan 2020

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Deal ends 31 Mar 2020

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.

Provider	Multi-policy	Conditions	Apply
AIA	Up to 12.5% discount	Annual premiums for each must at least by $700 You must hold an income protection policy and a lump sum policy	Speak to an adviser
AMP Elevate	Up to 5% discount	You must hold an income protection policy with a lump sum policy Minimum benefit amounts apply	Speak to an adviser
Asteron	Up to 5% discount	You must hold an income protection policy and/or lump sum policy and/or a business expenses policy	Speak to an adviser
BT	Up to 5% discount	Eligible policies include Term Life, Term Life as Superannuation, Standalone Living Insurance, Standalone TPD, Business Overheads, Key Person Income and income protection.	Speak to an adviser
MLC	Up to 30% discount	Discounts depend on the level of cover and the types of policies you combine	Speak to an adviser
OnePath	Up to 5% discount	You must combined Income Protection with another policy	Speak to an adviser

Data taken from brand product disclosure statements on May 2017. 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.

Provider	Combined policy discount/Family discount	Conditions	Apply
ANZ	You may receive a discount	Speak to ANZ directly to find out if you're eligible
Zurich Ezicover	$3.50 off per month for joint life insurance 5% discount for joint income protection	Two applications must be received at the same time Discount applies to the second policy	Get quote
InsuranceLine	5%	The younger adult receives a discount when you apply on the same policy	Get quote
Virgin	$3.50 off per month for joint life insurance 5% discount for joint income protection	No conditions stated in PDS	Get quote
AIA	5% discount if 2 people are insured 10% discount if 3+ people are insured	Annual premiums for each must at least by $500	Speak to an adviser
AMP Elevate	5% discount for business relationships	Two or more clients submit new business to AMP Available on life, TPD and trauma plans / options	Speak to an adviser
Asteron	10% discount if 8 or more people insured 7.5% discount if 5 to 7 people insured 5% discount if 2 to 4 people insured	You might be eligible for discounts if you apply at the same time with immediate family members or business partners in the same entity	Speak to an adviser
ClearView	2.5% discount if 2 people are insured 3% discount if 3+ people are insured	Discount available at the time of application where there is a family group relationship or business relationship between the persons insured.	Speak to an adviser
OnePath	5% discount if 2 people are insured 6% discount if 3 people are insured 7% discount if 4 people are insured 8% discount if 5-6 people are insured 9% discount if 7-9 people are insured 10% discount if 10 or more people are insured	Available if you link your policy with an eligible family member, business partner or combination of family members and business partners	Speak to an adviser

Data taken from brand product disclosure statements on May 2017. 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.

Provider	Higher cover discount	Conditions	Apply
Virgin	25% discount available for any cover above $500,000	Premiums must be paid within 30 days of the due date	Get quote
InsuranceLine	Up to 15% discount	Size of discount depends on the amount of cover insured and the type of cover that's insured	Get quote
AIA	Up to 30% discount	Size of discount depends on the amount of cover insured and the type of cover that's insured.	Speak to adviser
AMP Elevate	Up to 36% discount	Size of discount depends on the amount of cover insured and the type of cover that's insured	Speak to adviser
Asteron	Discount available (Check with an adviser)	Size of discount depends on the amount of cover insured and the type of cover that's insured	Speak to adviser
BT	Up to 30% discount	Size of discount depends on the amount of cover insured and the type of cover that's insured	Speak to adviser
ClearView	Up to 24% discount	Size of discount depends on the amount of cover insured and the type of cover that's insured	Speak to adviser
OnePath	Up to 32% discount	Size of discount depends on the amount of cover insured and the type of cover that's insured.	Speak to adviser
TAL	Up to 34% discount	Size of discount depends on the amount of cover insured and the type of cover that's insured	Speak to adviser
Zurich Future Wise	Up to 24% discount	Size 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 May 2017. 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 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. Save 35% on the RRP of a Polar Heart Rate Monitor or accessory when you buy it through the AIA Vitality site. Additionally, if you upload your workout data, you can earn up to 100 Vitality Points.
Fitbug. Save 30% on the RRP of you Fitbug and earn up to 100 Vitality Points when you submit your workout data.
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: Nike +, Garmin, miCoach and Suunto.

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 Partners	Benefits
Allan Carr's Easy Way to Stop Smoking Courses	30% discount
Anytime Fitness	$75 cash back per quarter
Aussie Farmers Direct	Up to 30% off
Dietician Association of Australia	30% off your initial consultation
Endota Spa	Up to 35% off
Fernwood	15% off
Fitbit	25% discount
Fitbug	Up to 30% off
Hoyts	Movie tickets priced from $5-12.50
Myer	Members receive a $50 Myer gift card once they have earned 5000 Vitality points
Polar Fitness Devices	35% discount
Qantas	Up to a 35% discount off domestic and international fares
Step Into Life	40% discount
Virgin Active	25% off
Weight Watchers	30% 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?

Asteron Life Plus Health Rewards

What is Asteron Life Plus Health Rewards?

The Asteron Life Plus program can help you get discounts on your insurance premiums by tracking your health and wellbeing. Ways the Asteron Life Plus program tracks your progress include:

Blood pressure
Blood tests
Body mass index (BMI)
Cholesterol checks.

There are three simple steps in the Asteron Life Plus program that can help you take command of your personal health.

Step 1 – Q Score

Your Q Score measures where your health sits in an imaginary queue of 100 people. The closer to the front of the queue, the better your health. There are four sections your Q Score can fall into:

Optimum Zone

Applicants display most of the following:

Blood pressure, cholesterol blood glucose all very healthy.
Low to moderate alcohol (or non-drinker)
Most or all of the following:
Non-smoker
Stress levels are well managed
Very active
Very healthy body weight
Very healthy diet

Healthy Zone

Applicants display most of the following:

Balanced diet
Blood pressure, cholesterol blood glucose under control.
Healthy weight
Low to moderate alcohol (or non-drinker)
Non-smoker
Regular exercise
Stress levels generally managed

Transformation Zone

Applicants display most of the following:

A little stressed
Blood pressure, cholesterol or blood glucose a little high
Carrying a little too much weight
Could do with being more active
Drink a little too much
Smoker
Some weak areas of diet

Risk Zone

Applicants display one or more of the following:

High blood glucose
High blood pressure
High cholesterol
Very overweight

The Asteron Life Plus program will provide you with advice and the tools to help you improve and take control of your health.

Step 2 – Set goals

A health coach will work with you to set achievable health goals. These goals are determined by your Q Score and the targets give you a goal to work towards such as cutting down on drinking, quitting smoking or losing weight. Your coach will provide you with personalised advice to help you optimise your health.

Step 3 – Monitor progress

The Asteron Life Plus program can provide you with the tools to help you track and monitor your progress. Some of the areas tracked include:

Blood pressure
BMI
Cholesterol
Diet

Exercise
Q Score
Weight.

Asteron Life Plus Health Rewards Discount

Once you have completed the program, you are eligible to receive a maximum discount of 20% off your insurance premiums.

Find out more about The Asteron Life Plus Program

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 the 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 Partners	Benefits
AMF Bowling, Kingpin Bowling and M9 Laser Skirmish.	25% off
Australian NaturalCare	Receive up to 70% off vitamins when you purchase online
Blackmores	30% off when you purchase any Blackmores product online
Bupa Optical	20% discount off the usual retail price of the range of sunglasses displayed
Dreamworld, WhiteWater World, SkyPoint and SkyPoint Climb	15% off tickets when you purchase online
EFM Health Cubs	15% off monthly membership
Event Cinemas	25% off when you buy your movie tickets online
FitnessFirst	Save 5% on the current standard 12 month or flexible month to month membership fee
Goodlife Health Clubs	Get a 20% discount on a 12 month membership fee.
Guy Leech Fitness	Up to 20% off selected Guy Leech products.
Hoyts Cinema	25% off when you buy your movie tickets online
Illawarra Fly Treetop Adventures and Otway Fly Treetop Adventures	20% discount on the admission price
InEssence aroma therapy	25% off all full priced online purchases and free shipping for all orders over $150.
Movie World, Sea World and Wet'n'Wild	10% discount on admission for adults, children and pensioner passes when you buy online
National Pharmacies Optical	20% discount off the rrp on the range of sunglasses
OPSM, sunglasses hut and other partners	Up to 25% off optical products.
RedBalloon	30 off any RedBalloon experience when you spend over $129
Rydges	Up to 15% off Best Flexible Rates at Rydges Hotels and Resorts when you book online
Sydney SEA LIFE Aquarium, Melbourne Aquarium and Manly SEA LIFE	20% discount on the admission price
The Golden Door	15% discount on regular rates
UnderWater World Mooloolaba and WILD LIFE Hamilton Island	20% discount on the admission price
WeightWatchers	Get a special deal when you join Weight Watchers programs

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Updated January 20th, 2020

Name	Maximum Cover	Maximum Entry Age	Minimum Sum Insured	Expiry Age
NobleOak Life Insurance 2019 Winner	$15,000,000	69	$50,000	99	Get your first month free. T&C’s apply. Offer ends 27 February 2020.	Get Quote View details	Compare	loading Fetching your data...
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™ .	Get Quote View details	Compare	loading Fetching your data...
Zurich Ezicover Life Insurance	$1,500,000	69	$50,000	99	Get your first month free.	Get Quote View details	Compare	loading Fetching your data...
Medibank Life Insurance	$1,500,000	65	$100,000	No expiry age as long as premiums are paid	10% discount for Medibank health members.	Get Quote View details	Compare	loading Fetching your data...
ahm Life Insurance	$1,500,000	65	$100,000	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.	Get Quote View details	Compare	loading Fetching your data...
AAMI Life Insurance	$1,000,000	60	$100,000	99	Get life cover up to $1 million.	Get Quote View details	Compare	loading Fetching your data...
nib Value Life Insurance	$1,000,000	65	$100,000	80	Receive one month's premiums off every year if you pay annually upfront. T’s and C’s apply.	Get Quote View details	Compare	loading Fetching your data...
InsuranceLine Life Cover	$1,500,000	65	$100,000	99	Tailored life insurance so you know what you're covered for upfront. Take out a policy and get a $100 bonus gift after holding cover for 2 months. T&Cs apply. Ends 31 March 2020.	Get Quote View details	Compare	loading Fetching your data...
Guardian Life Insurance	$1,500,000	64	$100,000	No expiry age as long as premiums are paid	Cover up to $1.5 million with Guardian Life Insurance.	Get Quote View details	Compare	loading Fetching your data...

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Maurice Thach

Maurice is a publisher who covers anything that sounds hard to compare. This includes life insurance policies, side hustle ideas and electricity plans in Australia. Maurice has completed a Tier 1 Life Insurance Certification and a Tier 2 General Insurance Certification under ASIC's Regulatory Guide 146. This means he can confidently provide general advice for life insurance and non-life insurance products to our readers. Outside of work, you'll probably find Maurice hitting up the nearest basketball court.

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Life Insurance Deals and Discounts January 2020

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

Compare Life Insurance

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Life insurance deals and discounts from the Finder panel

All life insurance deals and discounts

What types of deals and discounts are available?

Loyalty discounts

Rewards programs

Multi-policy discounts

Joint cover discounts

Free life insurance for first month

Large-sum discounts

Insurance Wellness programs

AIA Vitality

What is AIA Vitality?

What do I get as a member?

AIA Premium Discounts

Asteron Life Plus Health Rewards

What is Asteron Life Plus Health Rewards?

Step 1 – Q Score

Optimum Zone

Healthy Zone

Transformation Zone

Risk Zone

Step 2 – Set goals

Step 3 – Monitor progress

Asteron Life Plus Health Rewards Discount

Bupa Living Well

What types of things can I claim?

Bupa App

What kind of member benefits can I get?

Take advantage of life insurance deals and discounts with an adviser

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Smoker

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