MetLife wins Health & Wellness Overall Excellence Award 2023

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MetLife Insurance is the winner of the Overall Health & Wellness Excellence Award for 2023, announced by Plan For Life on Wednesday, December 6, 2023.

The 6th Annual Health & Wellness Life Insurance Awards recognise Life Insurance company programs designed to impact beneficially on the health and wellness of customers. The Overall Health & Wellness Life Insurance Award is based on a holistic review covering 44 underlying factors of Health & Wellness programs offered by Life Insurance companies.

The Devices & Health Tracking Award which went to MetLife, is based on how Life companies measure and monitor Health & Wellness activities undertaken by customers, including 10 factors covering physical activities and health tracking.

The Discounts & Healthy Living Rewards Award which went to TAL, is based on how Life companies reward customers that meet healthy living conditions, including nine factors covering premium discounts and other discounts for entertainment, leisure and shopping.

The Physical & Mental Health Support Award which went to MLC Life Insurance, is based on how Life companies support customer’s physical and mental health needs, including five factors covering early prevention support and access to ongoing professional help and information.

The Ongoing Medically-Tested Health Discounts Award which went to TAL, is based on the extent Life companies use actual medical tests to determine if premium discounts are appropriate, including two factors covering the extent of health/medical questions and ongoing health/medical checks for additional discounts.

The Rehabilitation & Claims Support Award which went to TAL, is based on how Life companies support customer’s healthy return to work, including six factors covering rehabilitation, counselling and recovery support.

The Outcomes Experience Award went to TAL. This award is based on the positive outcomes achieved by the Health &Wellness program, demonstrated by better policy retention and improvements in health experience.

The Innovation Awards are based on how Life companies introduce new ideas, concepts or Health & Wellness initiatives that are innovative in the Australian Life Insurance market.

The Innovation – Program Award went to MetLife for the 360Health Hub - Financial Wellness pilot, and the Innovation – Technology Award went to MLC for the Wysa Assure - AI based Mental Health Support App.

Award

Winner

Product

Overall Health and Wellness Excellence  

MetLife

360Health

Devices & Health Tracking

MetLife

  

Innovation - Program

MetLife

360Health Hub - Financial Wellness pilot

Physical & Mental Health Support

MLC

  

Innovation – Technology

MLC

Wysa Assure - AI based Mental Health Support App

Discounts & Healthy Living Rewards

TAL

  

Ongoing Medically-Tested Health Discounts

TAL

  

Rehabilitation & Claims Support

TAL

  

Outcomes Experience

TAL

  

Download the Media Release (PDF): MetLife wins Health & Wellness Overall Excellence Award 2023

Generation Life wins Investment Bonds Overall Excellence Award 2023

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Generation Life is the winner of the Overall Investment Bond Excellence Award for 2023, announced by Plan For Life on Thursday, December 6, 2023.

The fourth annual Investment Bond Excellence Awards recognise excellence in the key facets of the products, based on a holistic benchmarking review which includes financial strengths, marketing strengths, product benefits, service to customers and support and training of advisers.

The Investment Bond Award went to Resolution Life (Investment Growth Bond) and the Education Bond Award went to Futurity Investment Group (Futurity Education Bond).

Bond - Estate Planning Award went to Generation Life (LifeBuilder) and Bond - Child Policy Award went to Generation Life (ChildBuilder).

The Funeral Bond Award went to Generation Life (FuneralBond).

The Adviser Support Award which is based on a review of the types of training and support facilities provided by each organisation, went to Futurity Investment Group.

The Customer Service Award which is based on the service provided to customers through facilities such as annual reporting and client access to portals, went to Generation Life.

The Innovation – Education Award went to Futurity Investment Group, and the Innovation – Investing Award went to Generation Life (Tax Aware Investing).

Award

Winner

Product

Overall Excellence Award

Generation Life

  

Adviser Support

Futurity Investment Group

  

Bond - Child Policy

Generation Life

ChildBuilder

Bond - Estate Planning

Generation Life

LifeBuilder

Customer Service

Generation Life

  

Education Bond

Futurity Investment Group

Futurity Education Bond

Funeral Bond

Generation Life

FuneralBond

Innovation - Education

Futurity Investment Group

  

Innovation - Investing

Generation Life

Tax Aware Investing

Investment Bond

Resolution Life

Investment Growth Bond

Download the Media Release (PDF): Generation Life wins Investment Bonds Overall Excellence Award 2023

Challenger wins Overall Longevity Provider of the Year Award 2023

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Challenger is the winner of the Overall Longevity Provider of the Year Award for 2023, announced by Plan For Life on Thursday, December 6, 2023.

The fifth Annual Longevity Cover Awards recognise Australian Life companies and fund managers who are designing products to assist retirees in meeting the challenges of longevity. Longevity in this context simply means ‘life expectancy’. Products currently on offer to retirees, specifically designed to meet some part of longevity risk, can be defined as “Longevity Cover”.

The Longevity Product (Lifetime Guaranteed Income) Award went to Challenger (Liquid Lifetime Annuity – Immediate Payments), a product which provides a combination of flexibility, access to capital and guaranteed income.

The Longevity Product (Deferred Lifetime Guaranteed Income) Award went to Challenger (Liquid Lifetime Annuity - Deferred Payments), which provides access to capital and deferred guaranteed income.

The Longevity Product (Lifetime Investment Linked) Award went to Generation Life (LifeIncome), which provides income that is linked to selected investment options and which continues for life.

The Longevity Product (Deferred Lifetime Investment Linked) Award went to AMP (MyNorth Lifetime Deferred Income) which provides deferred income that is linked to selected investment options and which continues for life.

The Innovation (Product) Award went to Allianz (AGILE).

The Innovation Tools & Calculators Award went to AMP for the MyNorth Retirement Modelling Tool.

The Client & Adviser Technical Support Award went to Generation Life for its in-depth, ongoing support for advisers.

Award

Winner

Product

Overall Longevity Provider of the Year

Challenger

  

Client & Adviser Technical Support

Generation Life

  

Innovation - Product

Allianz

AGILE

Innovation Tools & Calculators

AMP

MyNorth Retirement Modelling Tool

Longevity Product - Deferred Lifetime Guaranteed Income

Challenger

Liquid Lifetime Annuity - Deferred Payments

Longevity Product - Deferred Lifetime Investment Linked

AMP

MyNorth Lifetime Deferred Income

Longevity Product - Lifetime Guaranteed Income

Challenger

Liquid Lifetime Annuity - Immediate Payments

Longevity Product - Lifetime Investment Linked

Generation Life

LifeIncome

Wholesale Longevity  Product

TAL

Retirement Income Solutions