Business Life Insurance Awards - 2013

When all is going well, running your own business can be exciting, challenging and rewarding and there is no doubt that Australians have an entrepreneurial spirit. But while running a business can be exciting, challenging and rewarding, it can also fall apart very quickly if illness, injury or death strikes a business owner or a key employee.

That financial vulnerability can be exacerbated if business loans are secured by family assets, such as the residential home. Business life insurance provides a fallback position when it is most needed to help keep a business running and financially viable under difficult circumstances.

Canstar’s annual Business Life Insurance star ratings compares 31 policies across 13 life insurance companies to determine who offers outstanding value life insurance for businesses.

For this year?s star ratings, OnePath (ANZ?s insurance arm) has triumphed, taking top honours overall along with Zurich. This is Zurich?s fourth year in a row in the limelight and OnePath?s third.

OnePath?s performance was particularly strong across both key person insurance and business partnership insurance and overall OnePath has have received five stars across 22 key person insurance profiles and 26 business partnership insurance profiles.

Zurich?s performance across both key person and business partnership once again this year has earned them the outstanding value business life insurance award, overall achieving five stars across 7 business partnership profiles and 10 key person profiles.

In addition to the two overall winners above, Asteron Life (part of Suncorp Group) has snagged the Business Expenses Insurance award, with five stars across every occupation, age, gender and business size category assessed – a very impressive feat.