Zurich and ClearView have won Canstar’s “outstanding value life insurance” annual awards.

ClearView also took the outstanding value award for income protection, trauma, term life and total and permanent disability (TPD).

“The key drivers of this performance were ClearView’s competitive pricing, which has been further strengthened by the removal of its $90 annual policy fee,” Canstar said.

“ClearView has also continued its strength in features for TPD cover, income protection and trauma cover, giving a balanced product offering all round.”

Zurich also won awards for its term life, TPD and packaged life insurance covers.

The Swiss insurer improved its multi-policy discounts and reduced term life and TPD premiums.

Other winners include AIA (trauma award), TAL (income protection) and MLC (packaged life). Canstar assessed products from 11 providers.

Meanwhile, new research by the financial services comparator shows that of the three in four Australians with no life insurance, 51% do not think they need the cover.

About 41% cite cost as a deterrent, and 15% do not consider it an immediate priority.

“Life insurance is to insure you for things you don’t know are going to happen, so it’s rather surprising to see so many Australians being nonchalant about protecting themselves and their family,” Canstar GM Wealth Josh Callaghan said.

More than 3000 Australian adults took part in the online survey last month.