Medibank Life Insurance Deals
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Life Insurance Deals and Discounts April 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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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
Medibank Life Insurance Deals
NobleOak Life Insurance Deals
Get 2 months free when joining combined cover
This offer is available if you apply for combined cover types. Offer ends in April 30, 2020. 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
10% off premiums for Medibank insurance members
Medibank health insurance members can save 10% off premiums on a life insurance policy.
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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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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 |
| AMP Elevate | Up to 5% discount |
| Speak to an adviser |
| Asteron | Up to 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 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 |
|
| Get quote |
| InsuranceLine |
| The younger adult receives a discount when you apply on the same policy | |
| Virgin |
| No conditions stated in PDS | |
| AIA |
| Annual premiums for each must at least by $500 | Speak to an adviser |
| AMP Elevate |
|
| Speak to an adviser |
| Asteron |
| 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 |
| 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 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 | |
| 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 |
| 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?
Back to topAsteron 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
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 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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