The 2021 AFA/Plan for Life awards for excellence have been announced, with TAL taking the honours for Life Company of the Year for a staggering fifth year in a row.
To win this award TAL had to outperform its competitors across a range of metrics including financial strength, product features, rates, premium volatility, and client service levels.
TAL is currently the largest life insurance company in Australia with over $4.6 Billion in premiums in force. TAL has a dominant presence, not just in the retail market, but also in the direct and group market sectors and it owns 100% of Lifebroker which sits behind websites iSelect and Comparethemarket.
In addition to the main award, there were separate awards for those insurers who had excelled in different product areas, based on the benchmarking research of Plan to live. These were:
Best Insurance Policies in 2021:
|Product Award||Insurance Policy|
|Best Term Life/TPD||Metlife – Protect Life Cover|
|Best Trauma/Critical Illness||NEOS Life – Protection Critical Illness Plus|
|Best Income Protection||TAL – Accelerated Protection Income Protection Premier|
Outstanding customer service was also rewarded. The AFA, working in conjunction with the Beddoes Institute, announced several Client Service Team Awards.
In the important category of claims, the best Claims Team of the Year Award for 2021 went to AIA (including CommInsure). Other insurers who were rated highly for their claims service were ClearView, TAL and Zurich (including OnePath).
For more information on each of the winners go to Compare Life Insurance Companies. To compare premiums from up to 10 insurers click below.