TAL and Zurich have shared Canstar’s annual award for outstanding value in life insurance.

Canstar Wealth Manager Paul O’Connor says the insurers took top spot based on their mix of price and features.

The consumer rating service reviewed more than 640,000 premium quotes across five occupation categories and four age groups for term life insurance, total and permanent disability (TPD), trauma and income protection.

“This is the seventh year we have conducted this research and we continue to be impressed by the quality of the five-star-rated products we see,” Mr O’Connor said.

Outstanding value awards are also presented in specific product categories.

AIA, Asteron Life and TAL shared the term life award, while AIA and OnePath took the trauma award.

ClearView and Zurich shared the TPD and packaged life awards, while Macquarie and TAL won income protection.