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About AMP

For more than 160 years AMP has helped Australians protect themselves, their families and their business against financial loss.

AMP Elevate closed for new business

As of 31 January 2019, Australians can no longer purchase new AMP life insurance policies. However, AMP Elevate applications will generally still be accepted if you fit one of the below qualifying criteria:

  • You are an existing AMP Life customer: A person or entity that owns a life policy issued by AMP Life and/or is a member of the AMP superannuation fund.
  • Customers making premium payment via one of AMP’s platforms: iAccess, Generations, My North, North, and Summit.

Existing AMP Life customers will not be affected by this change.

AMP is the leading independent wealth management company in Australia and New Zealand, providing insurance, superannuation, investment products and financial services to more than 4 million customers. Having grown stronger after acquiring AXA’s Australian and New Zealand business in 2011,AMP specialises in a variety of financial products and services, including, but not limited to: Income protection, disability and life insurance, superannuation, retirement income and banking & investment services.


Key Statistics

With over 4 million customers and $101.6 billion assets, AMP Insurance was ranked number 510 in the Forbes Global 2000 list. The company’s has reinsurance treaty agreements with three of the biggest reinsurers: RGA, Swiss RE and Munich Re.

AMP is listed on the Australian stock exchange (ASX), and on the 18th August 2016 reported a $523 million net profit for the first half of 2016 (to June 2016).

AMP has the largest financial advice network in Australia and New Zealand, with 4,259 aligned and employed financial advisers & planners. In 2015 AMP paid out $944.7 million in claims payments.

History of AMP Insurance

The Australian Mutual Provident Society (AMP) has a rich Australian History, dating all the way back to 1849. AXA, formerly known as National Mutual Life Association of Australasia, opened 20 years later in 1869.

In 1995 the National Mutual Life Association got listed on the Australian stock exchange (ASX) and went from being owned by members to being owned by shareholders. In 1999 they changed their name to AXA Asia Pacific. In 1998, AMP also got demutualised and listed on the stock exchange.

In 2011 AXA and AMP merged and AMP acquired all AXA’s Australian and New Zealand business, while AXA SA would acquire all of AMP’s Asian business. By 2013, the AXA brand became generally phased out of the Australian and New Zealand market and fully integrated within AMP.

AMP Insurance


The Australian Mutual Provident Society is established.


The National Mutual Life Assosciation of
Australasia is established.


The National Mutual Life Assosciation is floated on the ASX.


AMP is floated on the ASX.


National Mutual is rebranded and AXA.


AMP and AXA Asia Pacific merges.
AMP Insurance


After merger new AMP Logo is introduced.


AMP merged with AXA in 2011, their first day of operation as a merged group was on 31 March 2011.
After the 2011 merger, the insurance, superannuation and investment products from AXA and AMP were continued but rebranded therefore AXA Elevate was rebranded to AMP Elevate and AMP Flexible Lifetime Protection (AMP FLP) remained as is.

The transfer is not definite yet. Five years ago the National Mutual Life Association of Australia Limited (NMLA) commonly known as AXA became part of the AMP group. They are now proposing to transfer all the Australian and New Zealand life insurance business of the NMLA to AMP to help simplify their financial and administrative processes. If the transfer is approved, it will take effect on 1 January 2017.

If you are an NMLA policy owner, you can rest assured knowing that there will be no changes to your policy terms and conditions, or how it’s administered. The premium you pay and the amount you’re covered for remains the same, it’s only the insurer that’s changed.

As an AMP Life policy owner, your policy terms and conditions will also remain unchanged.

Any concerns surrounding your AXA policy can be directed to the AMP Insurance team.
Australian Casualty & Life (AC&L) was a business unit of National Mutual Life Association of Australia Limited. It was taken over by AXA in 1995. After the 2011 merger of AMP and AXA, all policies including AC&L, falls under AMP.
The lifetime benefit is no longer offered, although AC&L did offer lifetime benefits to customers in the past. If you previously set up your policy to receive such a benefit, you may still be entitled to this benefit. However, it’s always best to check with AMP and make sure what exactly you’re covered for if you have any questions or talk to a specialist insurance consultant.
Generally no your cover remains the same. AXA Elevate was simply rebranded as AMP Elevate when the merger happened. However if you need to confirm what you are covered for it is best to talk to a specialist or AMP directly for details regarding your policy.

Yes, the AMP Elevate product does offer select occupations income protection cover for underground miners and many of the related positions in the mining industry. Most of the occupations can obtain a 2 year benefit period, with select occupations eligible to age 65 benefit periods if they have a number of years of experience in the eligible occupation. The Occupation rating used for most of the mining related occupations for the Elevate product is C.

If you took out a policy with either AMP or AXA before the merger and feel there are still some questions left unanswered, or you’d like to know more about taking out a new AMP policy, please contact one of our experienced consultants or call us directly on 1300 135 205.

It is true. As of 1 October 2017, AMP will no longer accept new FLP applications, which means that FLP policies will effectively become a legacy product, closed for any new business.

However, existing FLP policy owners will still receive flexible and comprehensive cover and be able to change their cover to suit their needs.
If you currently have an FLP application in progress, you will still be issued a new policy. No new Flexible Lifetime Protection policies will be issued from 1 January 2018.

AMP stated that their decision resulted from their commitment to making insurance less complex and more efficient, by working toward providing customers with a single, competitive offer.

By striving to continue to meet customers’ needs the AMP Elevate insurance product will continue to evolve and be enhanced to meet their needs.

AMP Limited is selling its wealth protection and mature businesses to Resolution Life. Resolution Life Australia Pty Ltd is a wholly owned subsidiary of Resolution Life Group Holding LP, an international insurance and reinsurance group based in the UK.

AMP’s life insurance arm is being sold because of the sharp rise in client withdrawals and losing new business to cheaper competitors. AMP Limited hopes the sale will strengthen their balance sheet and provide strategic flexibility, reshaping the company as a more straightforward group, focused on its Australian wealth management business (AMP Capital and AMP Bank).

Existing AMP Life customers will have their policy terms and conditions retained, meaning your policy remains as it is now. However, Resolution Life does not intend to continue issuing new policies – only managing in-force ones.

Resolution Life will assume the risk and profits of AMP Life from July 2018, subject to Australian wealth protection risk-sharing agreement. The transaction is expected to be completed during the second half of 2019, subject to regulatory approval.

Resolution Life has over 15 years’ experience specialising in the purchase and management of legacy life insurance products, like AMP Life and has to date acquired 27 life insurance companies.

Their mission is to deliver policyholder benefits and quality service to in-force insurance customers.

If you are thinking about taking out an insurance policy with AMP or have questions surrounding your existing AIA Australian policy, please feel free to ask one of our experts for advice. Alternatively if you’d like to compare AMP Insurance then try out our free quote tool.

Customer reviews are in no way affected by any commercial relationships Life Insurance Direct has with providers on the list. Reviewers may enter a competition with a chance to win a prize from Life Insurance Direct in exchange for their reviews. All reviewers who meet our review guidelines have equal chances of winning a prize regardless of whether they submitted positive or negative reviews.

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Write a Review on AMP

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Please describe your overall experience with this insurer. i.e. what you liked, disliked and would you recommend this insurer to your family or friends. (Min 20 words).
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5 of 5
Value for Money
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Overall Rating
Life Insurance - 20+ years
The team was easily approachable and had full information of the product and provided best quotes. Would recommend this to everyone. Thanks
2017 Dec 20 Wed, 12:45:26
4.6 of 5
Value for Money
Feature & Benefits
Customer Service
Overall Rating
Income Protection - 0 to 1 year
I really liked the prompt service
2017 Jul 24 Mon, 21:35:02
5 of 5
Value for Money
Feature & Benefits
Customer Service
Overall Rating
Life Insurance - 0 to 1 year
Great service everything was completed over the phone and I was approved within 2 days.
2017 Jul 19 Wed, 12:12:59
3.9 of 5
Value for Money
Feature & Benefits
Customer Service
Overall Rating
Trauma Insurance - 0 to 1 year
I found the people involved in providing me with information were very well informed as well as patient . I came away with the impression that their goal was to provide me with a personalised package followed by personalised service . They always willing to assist me in any way they could. I hope I experience the same assistance in future.
2017 Jul 04 Tue, 16:58:14
5 of 5
Value for Money
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Overall Rating
Life Insurance - 0 to 1 year
Great service. Friendly. Uncomplicated. Good follow up.
2017 Jun 23 Fri, 12:35:57
1.8 of 5
Value for Money
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Overall Rating
Life Insurance - 20+ years
Bogged down in forms and not worth the stress and worry, impossible to deal with and very very long waits on the phone - If I only new 20 years ago
2017 May 24 Wed, 18:42:14

Ask an Expert?


  • Rob Lloyd |

    Does AMP have funeral insurance?

    Yes? No?

    Please advise where I can get info if YES.

      Brett Lenertz |

      Hi Rob, AMP does not offer a stand alone ‘Funeral Insurance’ Product but they do have Life Insurance which offers an advancement of Funeral Expenses built within this policy. There are restrictions within this benefit and the insured must satisfy certain conditions within the PDS for this to be paid. Keep in mind we have two other insurance providers that offer Funeral Insurance and we are happy to provide you information and premiums in relation to this. You are welcome to call us on 1300 135 205 and speak to one of our Funeral Insurance Specialists.

  • Stephen Michael Hawkes |

    I had an insurance policy with AMP Policy number XXXXXXXX in the name of Hawkes Stephen M, just wondering if this policy still exists. Date of last premium paid was 23/10/1981.

      Brett Lenertz |

      Hi Stephen, thanks for contacting us. The first step I would undertake is to contact AMP on 132987 as they may be able to identify the policy for you. If that does not provide a solution and/or if your policy potentially had a cash or investment value you may find some information here on ASIC’s Money Smart Website and in particular on this link. Thank You.

  • Jonathan Anthony |


    I would like to get a quote for a life insurance. My wife and I are reviewing our current life insurance.

    Thank you.


      Russell |

      Hi Jonathan

      Happy to help in one of 2 ways, firstly you can obtain a comparison quote between AMP and the other 10+ other companies we compare online, or secondly call us on 1300 135 205 to talk to one of our specialists who will be able to discuss your options further including which companies provide multi life discounts if you both combine your cover with the same insurer and / or generate a comparison report for you and your wife.

      I hope these help you to review your current policy.

  • Rosalyn Fowler (daughter in law) |

    My mother-in-law took out an all of life policy in Australia then moved to New Zealand in 1978 continued to pay the policy changed over to New Zealand she now is living back in Australia for the last 20years now at 85 years old and getting her affairs in order we found out the policy is a New Zealand policy can we change it back to Australia as she is a Australian citizen

      Brett Lenertz |

      Hi Roslyn, Thanks for contacting us. It is an interesting scenario with your mother in law. This policy is more commonly known as a ‘Whole of Life’ policy but to answer your question, it would depend on the Insurer which may be AMP as your comment has been posted on their page on our website? It would seem from your question that the policy was allowed to continue in NZ and she may have had the policy adjusted to NZ Dollars and therefore she serviced the policy in NZ Dollars also? It would be a matter of contacting the Insurer and asking the question to see if it can be converted back to Australian Dollars both in value and servicing. It is probably a fairly uncommon scenario but the Insurer would be able to provide you with information in this regard. I wish you all the best.

  • Kevin Douglas Simmonds |

    Having recently updated my will I need verification that my wife Beverley Simmonds is the nominated party in the event of my death on my Whole of Life Plan. Plan Number V******B.

      Russell |

      Thank you for contacting us,

      I have just checked our crm and can see we did not set up your whole of life insurance policy for you therefore unfortunately we cannot confirm this for you. Can I suggest you either contact AMP directly on 131 267 or you can join life insurance direct by calling 1300 135 205 and we can do this for you and you will also get access to our exclusive rewards program as well as all the other benefits of being a client of ours.

  • allison |

    I have a crisis care police which my child will get on my death. I hear so much about people having trouble getting that cash.

    What should do to make sure that it is in order, so it does not have to go to a trustee who takes a lot for doing nothing?

      Anneke |

      Hi Allison,
      I’m not exactly sure what type of cover you’re referring too, but it sounds like you’re concerned about your life insurance policy and whether a claim will actually be paid to your child should you pass away.

      As a first step, you might want to review your policy documentation to make sure your child is listed as your nominated beneficiary.

      Please feel free to give us a call on 1300 135 205 and a specialist will answer all your questions.

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