Plan For Life / AFA - Life Company of the Year Awards recognise Life Insurance Company excellence in the provision of products and services to financial advisers and their clients. The judging criteria are based on independent and objective actuarial research conducted by Plan For Life over the year through three separate investigations, analysis and customer service survey. Plan For Life / AFA - Life Company Awards 2012 Results

Award Categories:

  • Overall Platinum - Life Company of the Year Award

  • Risk Product Awards: Term/TPD, Trauma, Income Protection

  • Service Quality Award

  • Risk Product Innovation Award

  • Overall Annuity Provider of the Year

  • Long Term Income Stream Award

  • Income Stream  Innovation Award

  • Investment Bond Award

Life Company of the Year Winners 2011Life Company Awards Lunch 2011  

 

Risk Insurance Benchmarking Report forms the underlying basis for the PFL / AFA Life Insurance Company Awards. The research is published by Plan For Life based on assessing key benchmarks using an actuarial approach covering Life Insurance companies and their Individual Life Insurance Risk Protection products.

Companies included in the report:

  • AIA Australia,  AMP Financial Services,  Asteron, AXA, BT Financial Group, CommInsure, Clearview, Macquarie Active, MLC PPP, MLC Protection First, OnePath, TAL, Zurich

Risk Insurance Benchmarking Report is used by:

  • Life Insurance companies to compare their products and services to the industry.

  • Dealer Groups as underlying research to support selection of Risk products for approved product lists.

Benchmarking Methodology

  • The Benchmarking process follows an in-depth investigation by in-house Risk specialists and Actuarial oversight. A range of factors are reviewed three times each year and separate reports are issued.

  • Key Factors: Company Financial Position, Product Features, Service Quality Survey (survey of Advisers, Adviser Support Staff and Licensee Management), Premium Rates, Market Performance.

  • Additional Factors: Consistency (Premium Rates and Product Features), Product Improvements and Unique Product Features, Lapse Data, Contribution to the Life Industry/ Industry Promotion, Service Internal Benchmarks, Sustainability (the new solvency requirements).

  • Plan For Life, its employees and associated persons make no recommendations, representations, warranties nor provide opinions, implied or otherwise about the suitability in general terms of a particular asset type or insurance and its suitability for any particular individual or organization.

Other Benchmarking reports published by Plan For Life include Annuity Benchmarking Report and Investment Bond Benchmarking Report.

 

 

Life Company Awards