OnePath and AIA Australia have been awarded a five-star rating by Canstar Cannex for their packaged life insurance offerings.
The rating is awarded to insurers who offer outstanding value for a suite of life insurance policies.
“This is the fourth 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,” said Stephen Mitchell, Head of Wealth Management at Canstar Cannex.
“This shows that both insurance giants, AIA Australia and OnePath demonstrate broad and deep value to consumers through a network of financial advisers. It’s a thumbs-up for the industry and a positive sign for consumers.”
It is the fourth year in a row that OnePath (or as it was formerly known, ING Life) has received the five star rating.
Canstar Cannex also awarded two winners in each product category. They are:
Term Life
- Accelerated Protection by Tower
- Zurich Australia
Trauma
- Accelerated Protection by Tower
- AMP Life
TPD
- AXA
- Zurich Australia
Income Protection
- AIA Australia
- OnePath
In determining the ratings, Canstar Cannex compared 13 life insurance companies by scrutinising in excess of 600,000 quotes across four life stages, 20 occupations, two premium types (stepped and level) and both genders.
