Recognition for Excellence in Life Insurance
TAL and Acenda have been recognised in Money magazine’s 2026 Life Insurance Awards. TAL secured the title of Life Insurer of the Year for both group and direct insurance, while Acenda was named Life Insurer of the Year – Advised.
The awards highlight outstanding performance across 27 categories, covering insurance products offered via superannuation, financial advisers, or direct from insurers. TAL achieved awards in 12 categories, including seven for direct insurance and three for group insurance, notably Best-Value Insurance in Super for Aware Super members.
Vanessa Walker, managing editor of Money, stated, “The Life Insurance Awards promote the value of life, total and permanent disability (TPD), as well as trauma and income protection insurances by recognising the best providers.”
These insurances provide financial security during unexpected events, ensuring income replacement to protect family lifestyles and future goals. TAL’s success is reflected in its comprehensive coverage options.
Market Trends and Analysis
APRA data shows that as of June 2025, there were 29.1 million insurance policies issued, with 75% through superannuation funds. The remaining policies were sold through advisers (12%), directly to consumers (9%), and as ordinary group policies (4%).
NobleOak and Budget Direct jointly won the Best-Value Direct Life Insurance award. Clearview was recognised for Best Life & TPD Insurance – Advised. Innovation awards were also presented, with NobleOak winning for claims innovation and HCF Life for health and wellness.
The 2026 awards also featured five innovation awards. AAMI won for online experience, Allianz for underwriting, and Medibank for communications. These awards highlight industry leaders in various segments, pushing the boundaries of customer service and technological advancement.
Walker further commented on industry trends, noting, “While insurance cover issued through super is the most affordable and popular choice of cover, industry research highlights a significant under-insurance gap.” She emphasised a shift towards flexible product designs and technology investments to capture the younger demographic.
Rainmaker Information conducted the analysis for the awards, reviewing 10,000 death and TPD, and income protection offerings from super funds. They evaluated 25 direct products from eight insurers covering death, TPD, trauma, and income protection, along with benchmarking products from 10 insurers.
The need for quality and affordable life insurance solutions for all Australians remains critical. Despite the popularity of super-issued insurance, millions remain underinsured, especially those under 35 years old.
