Preferred Pricing for Healthy Clients

New NEOS members that are healthy gets rewarded with a preferred lives discount. Eligible members can get a 7.5% premium discount on their life insurance, TPD cover and critical illness insurance when meeting all 3 of the below criteria:

  • A Body Mass Index (BMI) less or equal to 28.5,
  • Not been a smoker for at least 3 years, and
  • If there are no loadings or exclusions applied to your policy.

Take note; the preferred pricing discount is not available for income protection policies.

More NEOS discounts

There are a variety of premium discounts available to you if you’re considering NEOS life insurance, including large sum insured, multi-benefit and new cover discounts.

Large sum insured discount

The more cover you purchase, the higher your sum insured discount could potentially be. If eligible, this discount will be built into your standard premium rates.

Sum insured Product Discount
$250,000 to $499,999 Life cover 6%
TPD insurance 10%
$500,000 to $749,999 Life cover 22%
TPD insurance 20%
$750,000 to $999,999 Life cover 24%
TPD insurance 22%

Income protection large sum discount

  • 5% discount on $4,000 to $7,999.
  • 10% discount when purchasing cover over $8,000.

Multi-benefit discount

If you purchase income protection in combination with a lump sum cover, like life insurance, TPD or trauma, then you’ll get another 10% discount off your premium. However, this discount is only applied to your premium after all other discounts and loadings have been applied.

The multi-benefit discount will be removed should you cancel your policy or your cover lapses.

New cover discount

As a new customer that has completed the application process, you’ll be rewarded for each year you stay insured with the company.

Years your policy has been enforced Discount
1 10%
2 9%
3 8%
4 7%
5 6%
6 5%
7 4%
8 3%
9 2%
10 1%

Frequently asked questions and answers

If I currently have a NEOS policy but am not eligible for the preferred pricing, can I apply when I do meet the criteria?

No. Currently, the preferred lives discount is only available to new NEOS customers purchasing a policy for the first time.

Will the preferred pricing be in addition to the new cover discount?

Yes. If you’re a new NEOS customer purchasing a policy for the first time and have a BMI below 28.5, have not smoked in over 3 years and your policy is accepted at standard rates, you may be eligible for the initial 10% new customer discount, plus the 7.5% preferred pricing discount, giving you a total 17.5% off your premium.

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