Latest Insurance Discounts and Offers
Insurance discounts and incentives are offered by many life insurance companies to attract new customers or reward customers for their loyalty or their healthy lifestyle.
The offers tend to fall into the following categories:
- Automatic premium discounts for clients who meet certain criteria e.g. BMI
- Opt-in health and well-being programs which offer the opportunity to earn discounts
- Fee waivers or premium discounts to attract new clients or encourage loyalty
- Additional services or benefits over and above those offered by the policy
We have compiled a list of these offers below so that you can take them into account when comparing insurance companies.
Note: Unless otherwise specified, the discounts below are not incorporated in the premiums displayed in Compare Quotes (although should you qualify they will be applied to your final premium).
Insurance Watch 20% Reward: In addition to the offers below, if you purchase your policy through Insurance Watch you will receive 10% of your premiums back in the first and second years of your policy – read full details and Compare Quotes
AIA Vitality Membership
- Can be added to any new or existing AIA Priority Protection policy
- No eligibility requirements. A fee of $120 a year (or $10 a month) is charged for Vitality membership
- An initial 12.5% discount (15% until 31st December 2018) will apply to Life, TPD and Trauma insurance policies and a 7.5% discount to Income Protection policies. Vitality membership also gives access to discounts on movies, travel, retail shopping, fitness devices and gym memberships.
- A Vitality application needs to be completed to become a member and you must supply a unique email address
- If insufficient activity points are earned the initial discount of 12.5% will be reduced by 2.5% each year and the initial discount of 7.5% will be reduced by 1.5% each year. Alternatively depending on the points earned the discount can be increased to a maximum of 20%
“Two for Two” promotion (ending 31st August 2018)
- Applies to new AIA Priority Protection policies only
- No eligibility requirements
- The annual policy fee of $82.53 is waived for the first two years of the policy. If a Vitality membership has also been applied for the annual $120 fee will be waived for the first two years.
- The waivers will be automatically applied at the time of application.
- After the first two years the policy fee and Vitality fee will apply again.
Healthy Start (ending 2 December 2018)
- Applies to new AMP Elevate stepped Life and TPD insurance policies without loadings or exclusions
- To be eligible you must be:
- aged between 30 and 60 years old
- have a BMI (Body Mass Index) between 18.5 and 28
- be a non-smoker
- If accepted a 10% premium discount will be applied
- Eligibility will need to validated in advance and the application must be submitted online on AMP’s electronic system only
- The discount will last for 5 years only
- Applies to new stepped Asteron Life and TPD insurance policies with a minimum sum insured of $250,000 without exclusions or loadings
- To be eligible you need to:
- have a BMI (Body Mass Index) below 28
- be aged between 30 and 55 years old,
- not smoked in the last 5 years,
- not had your driver’s license suspended, disqualified or cancelled or been charged with a drink driving offence in the last 5 years,
- in your current occupation not work as a security guard/officer, in emergency services or in the defence forces, drive or operate heavy or hazardous machinery, drive interstate or transport poisonous/hazardous or toxic material, work at a distance of 250km or greater from your residence, or fly any aerial vehicle
- If accepted a 10% premium discount will be applied
- To apply you must complete the Healthy Life section of the Asteron Application form
- The discount will remain in place for the life of the policy and will not be subject to review
- Applies as above except you must undergo a blood test and a medical exam at application time.
- If satisfactory a 20% premium discount will be applied.
- To retain the 20% discount you will need to continue to meet the eligibility criteria and undergo a blood test and medical exam every year at your expense. If you choose not to re-test your discount will decrease by 1% each year until it reaches 10%.
- Applies to all new and existing MLC Insurance policies
- The policyholders and their family members can access the service
- Best Doctors provides support to policyholders and their families when they are dealing with a mental or physical health condition. Access to medical specialists around the world is provided to obtain a second opinion or access expertise to provide diagnosis and treatment plans.
- To access the service requires an initial phone call and consent to release your medical records to be reviewed
- This service can be accessed as long as your policy remains in force
- Applies to new MLC Insurance policies only
- You must have your own wearable fitness tracker and compatible smart device to record your activity information,
- You will receive an initial 5% off your premium for the first year just for signing on to On Track. If you meet your step target of 37,500 a week for 30 out of 40 weeks the 5% discount will be extended into the next year.
- When you apply for your MLC policy you must sign an On Track Authority agreeing to participate in the program. You will then receive an email with instructions as to how to connect your fitness device to MLC On Track.
- Each year you will need to meet your step target over a 40 week period in order to maintain the 5% discount into the next year.
Free Health Coaching
- Applies to new OnePath OneCare policies
- To be eligible you must have been given a premium loading due to BMI , blood pressure and/or cholesterol
- Free health coaching is available through OnePath partner Remedy Healthcare to clients to help them make good decisions about their health and potentially reduce the cost of their insurance
- When the loading is notified a flyer and application form will be provided giving the option to agree to participate. A health coach will then contact you to explain the program. Over eight months they will schedule regular telephone appointments to help you to stay on track to meet your health goals.
- At the end of the program there will be a health reassessment to determine if your premium loading can be removed,
Health Sense discount
- Applies to new TAL Accelerated Protection Life, TPD and Trauma insurance policies
- To be eligible you must have a BMI (Body Mass Index) between 19 and 28
- Minimum 7.5% premium discount, increasing to 15% if multiple products are taken out
- No special application required – discount automatically applied after policy accepted
- Discount applies for the life of the policy with no ongoing reassessment or review
- Applies to new and existing Zurich Wealth Protection policies (currently being rolled out to existing policyholders)
- No other eligibility criteria
- “Loving Life” is a lifestyle and entertainment application for smart phones and devices. Based on the “Entertainment Book” this program provides access to special offers on dining, entertainment, travel and flights.
- An email will be sent to invite you to activate your digital membership.
- Your “Loving Life” membership will be current while you remain a Zurich policyholder