10% Cashback (Paid at Policy Anniversary) or Ongoing 5% off on New Life or Income Protection Insurance Policy @ Insurance Watch


Insurance Watch is an online life insurance broker comparing 10 different insurance brands: AIA, BT, ClearView, Integrity Life, MetLife, MLC, NEOS, OnePath, TAL, Zurich Insurance

To qualify for the offer you need to apply on the Insurance Watch website before 30th June 2022 for a:

  • Life insurance (with or without TPD insurance) policy
  • Trauma Insurance policy, or
  • Income Protection Insurance policy

The default offer is a 10% cashback of premiums paid in the first 12 months of the policy.

Alternatively, you can opt at the start of the policy to receive a 5% discount for the life of the policy.

This offer is available to paper, online and telephone applications, regardless of whether premiums are paid monthly or annually.

The offer is only available for policies purchased using the online DIY Compare Quotes service and does not apply where personal advice is provided by an Insurance Watch adviser.

How does the 10% cashback work?

  • You pay the premium quoted to the insurance company
  • 30 days before the end of the first year of your policy Insurance Watch will contact you to confirm your bank account details for the payment of the refund
  • Within 30 days of your first policy anniversary you will receive 10% of the premiums you have paid in the first year of your policy

How does the 5% ongoing discount work?

  • At the time of applying for your policy you will need to notify Insurance Watch by email of your preference for this option
  • Insurance Watch will reduce your initial premium by 5%
  • The insurer will then apply a 5% discount to all future renewals

What are the conditions?

  • Application paperwork must be returned to Insurance Watch within 14 days
  • The 10% cashback is only payable for the first year of the policy, whereas the 5% ongoing discount will apply every year the policy is held
  • To receive the 10% cashback the policy must be in force and fully paid up to the first policy anniversary. If the policy lapses or is cancelled for whatever reason within the initial 12 months, the 10% cashback will not be payable.
  • This offer is available only for policies taken out with a new insurer. It does not apply where a policy with the same insurer is being replaced, either in whole or part.

Full terms and conditions can be found on Insurance Watch.

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  • Just a friendly reminder that life insurance through your existing super fund is probably going to be way cheaper. And maybe paid with money from super so some tax benefit.
    You may already be paying for it anyway.


  • Our online comparator is a way to check if what you are paying is good value or not. Super funds have increased their premiums in recent years and are not always cheaper - see premium comparison at https://www.insurancewatch.com.au/superannuation-insurance.h....

    In any case Rice Kachor found that the default life insurance cover provided by super funds is rarely enough to cover a family's basic needs (see https://www.ricewarner.com/life-insurance-adequacy/).

    Plus there have been problems with "junk" TPD cover provided by super funds - see ASIC media release https://asic.gov.au/about-asic/news-centre/find-a-media-rele....

    What is often not understood is that the insurance coverage provided by industry super funds is subject to change, for instance when a fund changes insurer. In other words the terms and conditions of the cover is not "guaranteed renewable" for the term of the policy, as it is with retail policies.

    If you want to use the money in your super fund to pay for all or most of your insurance premium you can also do this for the policies on our website by selecting the pay by super rollover option (not available for trauma insurance). That way you're not restricted to the insurance cover your super fund provides and your insurance is portable if you move your super.

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