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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
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.
Provider | Combined policy discount/Family discount | Conditions | Apply |
---|---|---|---|
Zurich Ezicover |
|
| More 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 | More info |
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.
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

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.
Top picks for life insurance in Australia
Winner

- $25 million sum insured
- 1st place in Finder Awards: 8.45 final score
- Fully underwritten policy
- Cheapest average policy price
Finalist

- Pays up to $5 million in TPD
- 2nd place in Finder Awards
- Interim accident cover
- $25,000 funeral advancement
Finalist

- Pays up to $25 million
- 3rd place in Finder Awards
- TPD and trauma options
- $15,000 funeral advancement
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Frequently asked questions
More guides on Finder
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Life insurance rewards programs
Here are some of the health reward programs and discount schemes available from Australian life insurance brands.