Canstar has named ANZ Life and Insure Me Now as the two best direct life insurers providing “outstanding value”.

It says ANZ received 10 five-star ratings in the pricing and features categories.

The insurer won strong ratings for its cover for men aged in their 20s, non-smoking women in their 20s, people in their 30s, women in their 40s and non-smoking men in their 40s.

Canstar praises features including the multi-life discount, funeral benefit of up to $15,000 and the low cost of adding trauma cover.

Last year’s winner Insure Me Now – underwritten by Hannover Re – has again been hailed for its Superior Life policy, which is very competitive for non-smokers aged in their 20s, women in their 30s, men in their early 50s and people in their late 50s.

Canstar praises the insurer’s lenient approach to exclusions and willingness to cover pre-existing conditions, plus its funeral benefit of up to $10,000 and option to pay for extra total and permanent disability and trauma cover.

The review featured 27 direct life insurers and 31 policies, resulting in 14,880 quotes for 20 different customer profiles.