ING Australia and Zurich Financial Services have been recognised with CANSTAR CANNEX’s Outstanding Value Packaged Life Award for 2010. This is the third consecutive year that ING has been awarded this rating, and it is the second year in a row for Zurich.
Stephen Mitchell, Head of Wealth Management at CANSTAR CANNEX said: “This is the third year we have researched term and packaged life insurance and their associated offshoots – trauma or critical illness, total and permanent disablement (TPD) and income protection.”
“Both companies showed a winning consistency in products and premium pricing which added up to them jointly offering outstanding value life insurance across Australia,” said Mr Mitchell.
CANSTAR CANNEX compared 13 companies by scrutinising in excess of 600,000 quotes across three life stages, 15 occupations, two premium types, stepped and level, and both genders.
“There is no doubt about the overall strength and competitiveness of the life insurance industry in Australia, with 6 of the 13 companies researched winning category awards,” Mr Mitchell said.
CANSTAR CANNEX has awarded two winners in each product category this year. They are:
Outstanding Value Packaged Life
- ING Australia
- Zurich
Outstanding Value Term Life Insurance
- Accelerated Protection by TOWER
- Zurich
Outstanding Value Trauma Insurance
- Accelerated Protection by TOWER
- CommInsure
Outstanding Value TPD Insurance
- AXA
- Zurich
Outstanding Value Income Protection
- AIA Australia
- CommInsure
