Top Life Insurance Companies Win CANSTAR CANNEX Award
Life insurance companies ING Insurance and Zurich Insurance have been recognised with CANSTAR CANNEX's Outstanding Value Packaged Life Award for 2010. This is the third consecutive year that ING Insurance has been awarded this rating, and it is the second year in a row for Zurich Insurance.
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 life insurance 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.
Top life insurance companies awarded
CANSTAR CANNEX has awarded two winners in each product category this year.
They are:
Outstanding Value Packaged Life
- ING Insurance
- Zurich Insurance
Outstanding Value Term Life Insurance
- Accelerated Protection by TOWER Insurance
- Zurich Insurance
Outstanding Value Trauma Insurance
- Accelerated Protection by TOWER Insurance
- CommInsure Insurance
Outstanding Value TPD Insurance
- AXA Insurance
- Zurich Insurance
Outstanding Value Income Protection
- AIA Insurance
- CommInsure Insurance
Source: RiskInfo 2010
September 2010
