You probably recognise the “lucky you’re with AAMI” jingle from the good old free-to-air TV days, but its message about the peace of mind which insurance brings still resonates today.
AAMI has been providing insurance for almost half a century, and this year is being recognised for its outstanding life insurance offering. In the 2020 Mozo Experts Choice Life Insurance Awards, AAMI has taken out gold in the Exceptional Quality Life Insurance category.
This is an impressive feat, with 25 different insurers offering direct life insurance products considered in the judging process. Mozo Experts Choice Awards Judge, Peter Marshall, said AAMI’s breadth of policy features shot it straight to the winner’s podium.
“AMMI’s Life Insurance policy offers great features, like the ability to pause premiums for up to three months and increase the sum insured by up to $100,000 without having to go through a further assessment process,” Marshall said.
Find out more about the judging process by heading to the Mozo Experts Choice Life Insurance Awards page or read the methodology report.
AAMI has been in the insurance game for over 45 years, and is the largest national car insurer in Australia. The company now covers most areas of life where you would expect to find insurance offerings. In addition to life insurance and income protection, this includes cars and vehicles, home and property, health, travel, business and pets.
AMMI sits under the umbrella of the Suncorp Group, beside other well-known brands such as GIO, Apia, Shannons and Bingle.
AAMI’s award-winning Life Insurance policy
To uncover the providers offering the most comprehensive policies irrespective of price, Mozo’s judges did a deep-dive into the Product Disclosure Statements (PDS) of life insurance policies.
They weeded through the fine print to find the most generous combination of additional benefits and flexibility across all assessed features. This included things like the ability to pause cover and premiums, flexible payment times, and the option to increase the level of cover for future events without a medical reassessment. Policies that didn’t cover overseas events were excluded.
AAMI’s Life Insurance certainly fits the bill. It offers significant benefits off the bat. Your family will be covered with up to a $1 million lump-sum payment should you pass away, and if you’re diagnosed with a terminal illness there’s the option to receive your full benefit early. Up to $10,000 in an early payout for funeral expenses will be available within 24 hours, so your family doesn’t have the extra weight of worrying about those immediate costs.
If you’re preparing for a change in the future – perhaps there’s a baby on the way or you’re planning to get married – you can change your level of life insurance cover by up to $100,000 without providing any additional health information. There are also a range of additional benefits when you sign up with AAMI. These include:
- Membership in the AAMI Lucky Club, which offers special access to shows and events, plus discounts on things like food, petrol and homewares across popular retailers.
- The family discount, where you’ll receive 10% off your premium if an immediate family member also takes out an AAMI Life Insurance policy.
How to take out a Life Insurance policy with AAMI
Setting up a policy with AAMI is a cinch. You simply jump online, head on over to their Life Insurance & Income Protection page and follow an intuitive online application process. All you need to do is:
- Click the ‘get a quote’ button and answer a few health and lifestyle questions.
- Review the quote and check the PDS for all the policy info, then set your premium preferences.
- Add your payment details and watch out for a confirmation email – all policy documents will then be sent via post.
If you’d like to compare AAMI’s offering with other top life insurance and income protection policies, check out the full list of 2020 Mozo Experts Choice Life Insurance Award winners. Or if you’re not sure how much life insurance you really need, read our guide to working out the best level of cover for you.