Life Insurance Awards

A big round of applause to the winners of the 2020 Mozo Experts Choice Awards for Life Insurance. These awards have commended providers of direct life insurance and income protection insurance policies that provide everyday Aussies with exceptional value for money and outstanding quality.

Mozo Experts Choice Awards 2020 Badge

What are the Mozo Experts Choice Awards?

Now in their seventh year, the Mozo Experts Choice Awards provide a platform to highlight products in the marketplace we believe offer great value to Australians.

For the 2020 Life Insurance awards, we analysed pricing and cover information from 25 different life insurers whose policies can be purchased online directly.

“Our analysis for this year’s awards uncovered price variations of over 50% between the cheapest and most expensive policies on the market, proving that shopping around is a must if you want to get a value for money,” said Mozo Experts Choice Awards Judge, Peter Marshall.

“Our research also shed light on the differences between included features and benefits on the policies out there. This is why it is so important to spend time comparing options and using this year’s winners list as a guide for finding quality and affordable life insurance cover is a great first step.”

For details on how we crunched the numbers and determined the award winners see our methodology report or get more info about our judging criteria and read our FAQs.

 

Life Insurer of the Year

Noble Oak Logo

For the second year in a row, NobleOak outperformed its competitors, winning awards in every single category to take out the Life Insurer of the Year crown. NobleOak's policies, not only ranked among Australia's best priced, they also deliver on high quality cover.

Exceptional Value Awards

These awards recognise life insurance that’s among the best-priced in Australia, based on a comparison of prices for selected customer scenarios. Our judges’ took into account a range of different factors including age, gender and occupations.

Exceptional Value Life Insurance

This category assessed direct life insurance policies eligible for new customers up to the age of 55. According to our analysis, the winners offer the most competitively priced plans across the broadest range of customers.

 

Insure Me Now Logo

Insure Me Now - Superior Life Insurance Cover

NobleOak Logo

NobleOak - Premium Life Direct

 

Exceptional Value Life & TPD Insurance

For this category the judges assessed the combined Life and Third Party Disability options on offer to find those with the most competitive prices for the broadest range of customers.

Insure Me Now Logo

Insure Me Now - Superior Life Insurance Cover

NobleOak Logo

NobleOak - Premium Life Direct

Exceptional Value Life & Trauma Insurance

For people looking to combine their Life policy with Trauma Insurance, the judges ran a range of scenarios and compared the prices quoted to identify the insurers that are most competitive for a wide range of people.

Insure Me Now Logo

Insure Me Now - Superior Life Insurance Cover

NobleOak Logo

NobleOak - Premium Life Direct

Exceptional Value Income Protection

To assess Income Protection Insurance, the judges considered the cost of plans with both one and three month waiting periods, and one and two year benefit periods, for a variety of professions.

nib Logo

NIB - Income Protection

NobleOak Logo

NobleOak - Premium Life Direct

NRMA Logo

NRMA - Income Protection

Virgin Money Logo

Virgin Money - Income Protection

 

Exceptional Quality Awards

These awards recognise insurance cover that leads the market in the generosity of additional benefits and flexibility of options - irrespective of price. If you are looking for the very highest level of cover and options, these are the insurers to consider.

 

Exceptional Quality Life Insurance

This category assessed direct Life Insurance policies based on the quality of their cover irrespective of price. Policies that did not cover overseas events were excluded. The winners of this category offered the most generous combination of cover across the features assessed.

AAMI Logo

AAMI - Life Protect

GIO Logo

GIO - Life Protect

NobleOak Logo

NobleOak - Premium Life Direct

Suncorp Logo

Suncorp - Life Protect

Exceptional Quality Income Protection

For this category, our judges assessed the quality of direct Income Protection insurance policies. Policies that did not offer partial disability cover and excluded mental health conditions or overseas events were disqualified. The winner offered the best combination of cover across the features assessed.

NobleOak Logo

NobleOak - Premium Life Direct

 

Frequently Asked Questions

What’s the Judging Criteria for the awards?

The Mozo Experts Choice Awards recognise products that deliver exceptional value or benefits to consumers and have been running since 2014.

For more detailed information on how we performed the price comparisons and determined the final winners list for the 2020 Life Insurance Mozo Experts Choice Awards, see our awards methodology report.

Did you compare all life insurance policies in the market for these awards?

In 2020, Mozo assessed direct life insurance products - i.e. those that can be purchased online directly from the insurer, and not products that are only available via financial planners or other intermediaries. To be eligible for a Value award, quotes must be available online.

The assessment covers insurance for death, total & permanent disability, trauma and income protection.

Products are considered and awards are made irrespective of a product provider’s commercial relationship with Mozo.

How do I find the cheapest life insurance policy for me?

As a first step, check out the winners in the Exceptional Value category. Our experts crunched the data on a range of customer scenarios and these were the insurers and policies that came out the cheapest when compared to similar products.

It’s important to note that several factors go into determining the cost of life insurance such as your age, profession, gender, and if you smoke or not. So, you’ll still need to do some comparing of features and options to find a policy that is right for you and then get quotes so that you can compare the price based on your profile.

See Mozo’s life insurance hub to compare more options or read through our helpful life insurance guides to get up to speed on the industry.

What product features or benefits did you consider for the Exceptional Quality Awards?

Our Exceptional Quality awards are based on an assessment of the additional benefits, features and flexibility included with the insurance policy. They do not consider price. To determine which insurers offer the best features on their policy, we looked for the product with the best offering across a range of areas. 

If you’d like to see the full list of features and benefits considered, please read our methodology report.

Who are Mozo’s experts?

The Mozo Experts Choice Awards are overseen by AJ Duncanson and Peter Marshall. AJ is Mozo’s Data Director. He is a data scientist and actuary, and has worked in financial services and product comparison for over 30 years. Peter has been in the industry even longer, and as Research Manager he leads Mozo’s team of analysts that perform all the analysis behind the Mozo Experts Choice Awards.

I work for an insurer, how do we promote our win?

Please get in touch with us to discuss by emailing or phoning our account management team on 02 9037 4368.