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Life Insurance Deals and Discounts April 2021
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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Life Insurance Guides
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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.
Life insurance deals and discounts from the Finder panel
NobleOak Life Insurance Deals
Exclusive
Get a 10% discount on your first year
With this Finder exclusive offer you can get a 10% discount on your first years cover with Noble Oak Life Insurance. Apply before 30th April 2021. T&Cs apply.
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Suncorp Life Insurance Deals
Save 5% on Suncorp Life Insurance for existing customers
Get a 5% discount if you have a car or home insurance policy with Suncorp. T&Cs apply.
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Suncorp Life Insurance Deals
Access savings of up to 15% from major retailers
Get access to Suncorp Benefits when you sign up to an eligible policy, and save up to 15% on gift cards from retailers like Woolworths and Myer. T&Cs apply.
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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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AAMI Life Insurance Deals
Get 12 months life insurance cover for the price of 11
New members will get a one month free when paying annually. T&Cs apply.
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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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ahm Life Insurance Deals
10% off for ahm health members
ahm health members get a 10% premium discount for the life of their policy
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Medibank Life Insurance Deals
Win a $2.5K EFTPOS gift card. Plus, Medibank health members save 10% every year.
Want to win a $2.5K EFTPOS gift card? Get a Life Insurance quote by 27 April, 2021 to enter the draw. There are 3 prizes of $2.5K to be won. Plus, Medibank health members save 10% every year. T&Cs apply.
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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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InsuranceLine Deals
Get a $100 bonus gift after 2 months.
Plus, get 12 months cover for the price of 11 if you pay for life insurance annually. T&Cs 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.
| Provider | Multi-policy | Conditions | Apply |
|---|---|---|---|
| AIA | Up to 12.5% discount |
| Speak to an adviser |
| BT | Up to 5% discount |
| Speak to an adviser |
| MLC | Up to 30% discount |
| Speak to an adviser |
| OnePath | Up to 5% discount |
| 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 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 |
| Speak to ANZ directly to find out if you're eligible | More info |
| Zurich Ezicover |
|
| Get quote |
| InsuranceLine |
| The younger adult receives a discount when you apply on the same policy | More info |
| Virgin |
| No conditions stated in PDS | |
| Asteron |
| Speak to Asteron directly to find out if you're eligible | 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 |
|---|---|---|---|
| Virgin | 25% discount available for any cover above $500,000 | Premiums must be paid within 30 days of the due date | |
| 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 |
| ClearView | Up to 25.5% discount | 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 |
Data taken from brand product disclosure statements on March 2021. 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. 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 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?
Back to topBupa 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 Partners | Benefits |
|---|---|
| Zone Bowling and Kingpin Bowling | Buy one game of bowling or laser tag and get the second game free |
| Event Cinemas | 25% off when you buy your movie tickets online |
| Hoyts Cinema | 25% off when you buy your movie tickets online |
| TEG | Get ticket upgrades and discounts on a range of concerts, shows and experiences with TEG |
| RedBalloon | For 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 LIFE | 20% discount on the admission price |
| Legoland Discovery Centre | Get a 20% discount on the admission price to LEGOLAND Discovery Centre in Melbourne. |
| Illawarra Fly Treetop Adventures and Otway Fly Treetop Adventures | 20% discount on the admission price |
| SEA LIFE Sunshine Coast & WILD LIFE Hamilton Island | Get 20% off entry when purchased online |
| Movie World, Sea World, Wet 'n' Wild, Heartland | Get 15% off admission tickets |
| New Balance | 20% off all full priced online products |
| Garmin | 20% off a range of Garmin's online products |
| Goodlife Health Club | 15% discount on selected memberships |
| EFM Health Club | 15% off the monthly membership fee |
| Speedo | 20% off full priced Speedo products |
| Vision Personal Training | Up to 8 bonus Personal Training sessions and no joining fee when you start a Lifestyle Program |
| Fitness First | Receive 10% off new 3 and 12-month Fitness First memberships plus a free fitness program when you join |
| Trek, Electra, Bontrager | 10% off Trek & Electra bikes and Bontrager accessories at participating dealers |
| Marley Spoon | $25 off your first 4 boxes |
| CSIRO Total Wellbeing Diet | 25% off the CSIRO Total Wellbeing Diet – 12 Week Online Program |
| Australian National Care | Up to 70% off Australian NaturalCare vitamin range |
| Blackmores | 30% off selected Blackmores products purchased online |
| Weightwatchers | Get a head start on your health with one month free on selected 3-month plans |
Get quotes from these direct brands
An adviser can help you find cover from trusted life insurance brands.
- Get competitive quotes from multiple brands
- Lower rate of declined claims (according to ASIC)
- Save time and effort
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