Life insurance rewards programs

To encourage us to stay fit and healthy, a number of insurers offer life insurance reward programs. Here's what you need to know.

Our pick: AIA Vitality

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The AIA Vitality program is our top pick. Not only are the potential premium discounts as large as you'd find with any other program, it also offers a ton of valuable lifestyle perks that you can start taking advantage of immediately, like 50% off gym memberships and 25% off fitness trackers (Fitbit, Garmin, etc).

With its online member hub, it offers a wide range of healthy-living resources. Plus, you can climb AIA's status ladder and unlock even more perks.

Compare 4 life insurance rewards programs

• AIA
• OnePath
• TAL
• ClearView

AIA Vitality

• 15% initial discount on term life, trauma and TPD insurance
• 7.5% initial discount on income protection and business expense insurance
• Up to 50% off gym memberships, including at Virgin Active and Fitness First
• 25% off Fitbit and Garmin fitness trackers
• Ability to earn gift cards by completing healthy activities

OnePath/Qantas frequent flyer points

• Free Qantas Frequent Flyer (FF) membership
• 1 FF point for every $1 spent on premiums
• Up to 20,000 frequent flyer points
• Be aware. Not all policies are eligible for Qantas points

Health Sense

• 7.5% discount on term life and TPD insurance
• Up to 15% discount when bundled with income protection or business expense insurance

ClearView Health Maintenance Reward

• Score a 10% discount on your first year's term life, TPD, income protection or business expense premiums

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AIA Vitality

AIA Australia has developed one of the most comprehensive rewards programs out there, offering deep discounts on gym memberships, fitness gear, flights and more. You can join the program for free if you have a life insurance policy from one of their life insurance partners.

The moment you sign up, you could be eligible for enough discounts to fully cover the cost of your life insurance policy and then some depending on your policy. Additionally, you can earn points for the everyday healthy activities you do (which you can then use to claim rewards like vouchers).

What we liked

• Gym membership discounts including 50% off Virgin Active and Fitness First; 10% off Anytime Fitness
• Up to 30% off Fitbit and a 25% discount on Garmin fitness trackers
• 20% off Jaggad athletic wear
• Money off consultations with an accredited dietician
• 50% off Hoyts movie vouchers

• Up to 50% cashback on Virgin Australia and Singapore Airlines flights and, spa treatments based on your membership level
• Up to $200 in free gift cards (JB Hi-Fi, Dymocks, Myer or Rebel) based on the number of Vitality points you accrue.
• You also have the chance to donate your active benefit rewards to charity. Or you can choose to save them with Commonwealth.

Provider	Reward Highlights	Requirements to join
AIA Vitality	7.5 - 15% initial discount on your premiums with the ability to maintain or increase it year-on-year Up to 50% off gym memberships including Fitness First and Anytime Fitness Up to 30% off Fitbit and Garmin fitness trackers Online health assessments Healthy-living resources Online member portal	Buy an eligible term life insurance, total and permanent disability (TPD), trauma, accident or income protection product from a financial adviser or a AIA Vitality partner

How to earn points for better deals

The deals you get just for signing up are great on their own, but you can also earn more perks by going to the gym, completing fitness tests and going in for health check-ups. You start out at the bronze level but can move up to Silver, Gold or Platinum.

Moving up the ranks is also a way to save on your premiums. Everyone starts off with a 15% Vitality discount for life, trauma and TPD insurance ("lump sum" policies) and 7.5% on income protection and business expense insurance ("income stream" policies).

If you don't move up past the Silver status, you'll slowly lose some of that discount over time. With Gold status, you'll keep the discount you have. And with Platinum status, you'll increase your discount by 1% per year, up to 20%.

OnePath/ANZ Qantas frequent flyer points

OnePath knows how much people love their frequent flyer programs, so they went straight to the source. OnePath life insurance customers are automatically eligible for free Qantas Frequent Flyer membership, saving them the one-time $99.50 joining fee. You can also earn 1 Qantas Point for $1 you spend on your life insurance premiums.

This offer is good on select OnePath policies, including Life Cover, TPD Cover, Trauma cover and Child Cover..

Reward Highlights	Requirements to join
Free Qantas Frequent Flyer membership valued at $99.50 1 frequent flyer point for every $1 spent on premiums Earn up to 20,000 frequent flyer points per year	Buy an eligible term life, trauma, child or TPD policy from OnePath. Important note. Since 1 March 2022, Qantas points are only available for select OneCare and OneCare Super policies. This includes OnePath OneCare Life Cover.

Clearview Health Maintenance Reward

ClearView takes the opposite approach to most other programs because they reward you first and then take it away if you don't follow their health guidelines.

If you buy one of their life, TPD, income protection or business expense policies, you'll automatically get 10% off for the first year.

Every two years, you must fill out a health questionnaire and receive a positive review based on your answers to these questions:

• What is your current height and weight?
• Have you seen a doctor in the last three years?
• Have you recently taken up smoking?

If you don't complete the questionnaire, or if you fail the review, you lose your discount. However, you will not be penalised in any other way.

Reward Highlights	Requirements to join
10% initial discount and further premium savings beyond the first year if you make healthy lifestyle choices	Buy an eligible ClearView term life, TPD, income protection or business expense policies from a financial adviser or ClearView reseller

TAL Health Sense

TAL's rewards program is perhaps the simplest one to wrap your mind around: if your body mass index is in the healthy range of 19-28, you get a 7.5% discount on your TAL Accelerated life or TPD insurance.

You can get up to an additional 5% off if you bundle any three of their products together and an additional 2.5% if you buy a fourth product. The products are life insurance, TPD, critical illness and income protection insurance.

All up, you can save 15% for a very little amount of effort.

Reward Highlights	Requirements to join
Up to 15% discounts on Life, Critical Illness and/or TPD insurance No tests required You can save for the lifetime of your policy	Buy an eligible TAL term life or TPD insurance policy from a financial adviser BMI between 19.0-28.0 New customers only

Find life insurance rewards from Australian brands

Provider	Maximum cover	Key rewards	Maximum entry age
	$1,500,000	⭐️ Save up to 10% on premiums every year for the life of the policy on AAMI Life Insurance. Offer ends 30 Sept 2024. T&Cs apply. ⭐️ 5% Multi-Life Discount ⭐️ 1 month free if you pay annually	65	Get quote
	$1,500,000	⭐️Get 10% off your first year of ahm Life Insurance when you apply by 31 July 2024. T&Cs apply. ⭐️ ahm health members can save 10% off premiums.	55	Get quote
	$1,500,000	⭐️ HCF Thank you rewards: access to offers from retailers such as Myer, Rebel and more.	65	More info
	$1,500,000	⭐️ New members will get a one month free when paying annually ⭐️ Chance to win a $1,000 gift card	65	More info
	$2,500,000	⭐️Get 10% off your first year of Life Insurance when you apply by 31 July 2024. T&Cs apply. ⭐️ 10% premium discount for Medibank health members	70	Get quote
	$1,000,000	⭐️ Get back 10% of premiums you've paid after your 12-month policy anniversary – as part of The Real Reward programme.	64	Get quote
	$1,500,000	⭐️ Save up to 10% on premiums every year for the life of the policy on Suncorp Life Insurance. Offer ends 30 Sept 2024. T&Cs apply. ⭐️ 5% Multi-Life Discount ⭐️ 1 month free if you pay annually	65	Get quote
	No set limit	⭐️ Up to 15% off your TAL Life, Critical Illness or TPD insurance policy	74	Get quote
	$1,500,000	⭐️ Get your first month free and a 10% discount by taking out a second life insurance policy (discount applies to the second policy). T&C’s apply.	69	More info
	$1,000,000	⭐️ 5% discount if you hold both a life insurance and income protection policy by AIA ⭐️ 5% partner discount (living in the same household) on AIA life insurance or income protection policies	65	More info

What are the features of life insurance rewards?

There are several types of rewards offered by some life insurers, including the following:

• Loyalty bonuses. These bonuses are offered to policyholders who have had their cover for a certain period of time, usually around five years. This bonus can reward you for brand loyalty by increasing payable life insurance cover with no increases in premiums. This means you can reduce your sum insured by the bonus amount to lower premiums, yet still maintain the same level of cover.
• Healthy rewards. Stay in good shape and pay less for life insurance. For example, schemes may recognise healthy eating and regular exercise as a good way of reducing the chance of illness. In the past, this has included being able to enjoy up to a 20% premium discount if you pass a series of health tests with Asteron.
• Multi-policy discounts. Multi-policy covers are available from many insurance providers in Australia. Discounts on premiums can range from 5-25%. You are usually eligible for this if you have more than one insurance policy with the same brand, such as both home insurance and life insurance or two separate car insurance policies. This discount might apply to only the most recent policy or to all of them.
• Family Discount. Insurers may offer family discounts when members of the same family take out insurance policies. This includes spouses, siblings, parents, children, adoptees and any other member of your immediate family. This bonus takes the form of a premium discount and is usually available to almost all immediate family members with bigger discounts for more people with the same insurer.

After discounts or freebies on your life insurance?

Why you can trust Finder's life insurance experts

Frequently asked questions

• What is the best rewards program in Australia?

  There's no 'best' as everyone has difference preferences. Finder selected AIA's Vitality program as its top pick as it offers a heap of valuable lifestyle perks that you can take advantage of straight away, an online member hub with a wide range of healthy-living resources plus there are potential discounts to help you save on your premium.

• Do insurance companies have loyalty programs?

  Yes, many life insurance providers have loyalty programs to reward members and promote healthy lifestyles. Some of our favourites include AIA, TAL and OnePath.

• How does insurance build customer loyalty?

  One of the most common ways to build loyalty found in life insurance companies in Australia is to offer savings on your premium including bonuses for multiple years of cover and discounts for multiple policies.