Deal
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.
Life Insurance Deals and Discounts June 2022
These regularly updated life insurance deals can include 1 month free, bonus gift cards or up to 10% in savings with major brands.
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Before you take out life insurance, find out if there are offers that can help you get the most value for money while you meet your family's needs.
Life insurance deals and discounts from the Finder panel
Deal
10% off premiums for Medibank health members
Medibank health members save 10% every year. T&Cs apply
Deal
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.
Deal
10% off for ahm health members
ahm health members get a 10% premium discount for the life of their policy
Deal
$100 Cashback
Get ahm life insurance by 30 June and keep your cover for 6 months to receive $100 cashback. T&Cs apply^.
Deal
Get 2 months free
Get 2 months free when you apply for one or more life insurance types with NobleOak's Premium Life Direct policy before 30 June 2022. T&Cs apply
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 (17.5% for new applicants) |
| Speak to an adviser |
| BT | Up to 5% discount |
| Speak to an adviser |
| MLC | Yes |
| Speak to an adviser |
| OnePath | Up to 5% discount |
| Speak to an adviser |
Data taken from brand product disclosure statements on February 2022. 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.
[/fin_hide][/fin_hide]| Provider | Combined policy discount/Family discount | Conditions | Apply |
|---|---|---|---|
| Zurich Ezicover |
|
| Get quoteMore info |
| InsuranceLine |
| The younger adult receives a discount when you apply on the same policy | More info |
| AIA |
| Annual premiums for each must at least by $500 | Speak to an adviser |
| ClearView |
| 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 |
| 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 March 2021. 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 |
|---|---|---|---|
| InsuranceLine | Up to 15% discount | Size of discount depends on the amount of cover insured and the type of cover that's insured | |
| 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 |
| 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 | Yes | Size of discount depends on the amount of cover insured and the type of cover that's insured | Speak to adviser |
| OnePath | Yes | 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 March 2021. Benefits, conditions and amounts are subject to change at anytime.
What types of life insurance discounts and deals can I get?
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.
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
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.
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. In some instances, you will be refunded a months worth of cover after holding the policy for 12 months.
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. 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.
Multi-policy or joint discounts
Multi-policy discounts start at around 5% and increase to about 15% for 10 or more policies. 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. Couples or families who take out a policy together may be able to get a joint cover discount as well.
Wellness programs
Some life insurance policies give you access to health and wellness programs such as the AIA Vitality Program. 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.
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