Allianz and MetLife judged best value life insurers
Life insurers MetLife and Allianz Australia have cleaned up in Cannex’s first ever comparison of direct life insurance policies.
The financial ratings provider awarded the insurers five-star ratings for their respective policies Simply Life and Life Plan.
Cannex says the two policies are similar and offer “outstanding value”, including up to $1.5 million cover, cheap and good term life products, the option to buy total permanent disability and trauma policies, only one exclusion (suicide), and simple application over the phone or online.
Other policies to do well were MediBank Life Insurance, HSBC Life Cover, Real Life Family Life Cover and Queensland Teachers Credit Union EziCover.
The ratings compared price and policy features for two levels of coverage, $100,000 and $400,000, across four different age profiles – 20-29, 30-39, 40-49, and 50-55 – and across gender and smoking status categories.
The financial ratings provider awarded the insurers five-star ratings for their respective policies Simply Life and Life Plan.
Cannex says the two policies are similar and offer “outstanding value”, including up to $1.5 million cover, cheap and good term life products, the option to buy total permanent disability and trauma policies, only one exclusion (suicide), and simple application over the phone or online.
Other policies to do well were MediBank Life Insurance, HSBC Life Cover, Real Life Family Life Cover and Queensland Teachers Credit Union EziCover.
The ratings compared price and policy features for two levels of coverage, $100,000 and $400,000, across four different age profiles – 20-29, 30-39, 40-49, and 50-55 – and across gender and smoking status categories.