HOW KEEP WORKS
Keep gives you access to the same retail life insurance policies sold through financial advisers - and returns a large chunk of the adviser commission to you as cashback. New policy or existing cover, here's how it works.
Step 1
Whether you're starting fresh or already have cover, Keep works for both. Pick the path that fits your situation.
Compare policies from Australia's leading insurers and apply online in minutes. Your 12.5% premium cashback is built into your quote from day one - no negotiating, no hidden rates.
Transfer your existing policy to Keep and start receiving cashback - without changing your insurer, your cover, or your premium. We handle the transfer paperwork and your cover continues uninterrupted.
Not sure which path is right for you? We're here to help - no obligation, no pressure.
Book a callStep 2
Every retail life insurance policy includes an adviser commission built into the premium. Keep collects that commission and returns a large chunk of that to you, paid directly to your bank account.
Take out a new policy through Keep and we give 12.5% of your premium back every year, regardless of insurer, while your policy stays inforce. We collect the commission and return a large chunk to you - your cashback rate is locked in from day one.
Your first year's cashback is paid at the start of year 2. This is because insurers require commission to be returned if a policy lapses in the first year. From Year 2, cashback is paid quarterly with no delay.
Transfer your existing policy and we return at least 50% of whatever trail commission your insurer is currently paying - typically around 10% of your annual premium. Cashback starts from your first premium payment with Keep, and are paid quarterly, once Keep receives the commission.
The exact amount depends on the commission structure on your current policy. We confirm your estimate before you complete the transfer.
How cashback is paid - new policy example
$2,000 annual premium · 25% level commission
| Year 1 | Year 2 | Year 3+ | |
|---|---|---|---|
| Annual premium | $2,000 | $2,000 | $2,000 |
| Commission collected (25%) | $500 | $500 | $500 |
| Your cashback earned (50%) | $250 | $250 | $250 |
| Cashback paid this year | Held | $250 (Y1 instalment) + $250 (Y2 $62.50 / quarter) = $500 total | $250 $62.50 / quarter |
Premium increases at renewal increase your cashback proportionally.
Enter your premium details and we'll show you how much you could get back. The calculator defaults to a 25% commission rate for new policies - adjust it if you know your actual rate.
Ready to start getting your money back?
Get a quote in minutes. No phone calls, no obligation.
Step 3
Once your policy is in place, your Keep member dashboard gives you a single place to track your cover and your cashback.
See exactly how much you've earned and when your next payment is due.
Check your current policy details and compare options if your circumstances change.
Renewal alerts and policy updates so nothing falls through the cracks.
Step 4
Keep provides support to our customers for as long as they hold their policy, including:
Helping you understand premium changes and compare your policy against other options on the market.
Guiding you through the claims process and paperwork when you need it most.
Helping you understand your options for adjusting cover, such as changing sum insured or policy features.
Keep provides general advice only. If you'd like advice tailored to your circumstances, we can refer you to a financial adviser.
Want to talk something through? Book a call
Takes 5 minutes.
Do you know how much insurance you need?
If you do, go straight to step 2, our quote tool. If not, use our cover calculator. We'll guide you through some general considerations and then you can tailor the results to your needs.
Takes 5 minutes.
Use our quote tool to get prices and compare features from all our high-quality Life insurance providers.
You don't have to share any personal information. However, signing in allows you to save your quote for later.
Takes 5-6 minutes.
Once you've selected your preferred product, we can get the application started.
We need to tick a few legal boxes to get the ball rolling with the insurance company. We will also collect your contact details here so the life company can get in touch with you.
Takes a few days or weeks.
The life insurance company will contact you for any additional information they need (such as medical history, etc).
You can deal directly with the insurer for this part, but we are able to provide more support if you need it!
After underwriting is completed.
After the life insurance company has considered all the information for your application, they will either accept your application or notify you that they won't cover you.
No. Your policy, insurer, and level of cover stay exactly the same. The only thing that changes is where the adviser commission goes - instead of staying with your current adviser, around 10% of your premium (amount is based on at least half of the trail commission) comes back to you as cashback.
For new policies, your first year's cashback is paid after 12 months. This is because insurers require commission to be returned if a policy lapses in the first year. From Year 2, cashback is paid quarterly with no delay. For transferred policies, cashback starts from your first premium payment with Keep and is paid quarterly from that point.
For new policies, Keep gives 12.5% of your annual premium back every year. For existing policies transferred to Keep, you'll receive around 10% of your annual premium back - the exact amount depends on the commission structure on your current policy. Use the calculator above to see your estimate.
No. Keep is designed for people who want to access quality cover without paying for personal financial advice. We provide general advice and the tools to help you make your own decision. If you do need personalised advice, we can connect you with a full advice provider on a “no obligations” basis.
Transferring takes three steps: let us know your current policy details, we confirm your cashback estimate, then we handle the transfer with your insurer. Your cover continues uninterrupted throughout - there is no gap in protection.
Yes. It's not widely known, but an insurer charges the same premium for the same policy regardless of where you buy it, and many websites and brokers use the same quoting software. Quotes can differ if the amount of cover or the options selected are different, or if a financial adviser has reduced ("dialled down") their commission, which generally only happens with personal advice, not through comparison sites or brokers.
If you're seeing different quotes and aren't sure why, email us or book a call and we'll help you work it out.
Why does this matter? If the insurer's premium is the same, the only thing that changes your effective cost is how much you get back. For new policies, Keep's 12.5% is the largest premium cashback we're aware of in the market, which makes Keep the cheapest way we know of to buy the same retail policy.
No. There are no advice, comparison, setup or exit fees on top of the premium you pay your insurer. In fact, we pay you: 12.5% of every premium on new policies, and at least half of the commission we receive on transferred policies (typically around 10% of your premium).
Yes. Our website is designed so you can do everything yourself online, but you can book a call whenever you want help, whether that's understanding cover options, comparing policy features, or getting guidance at claim time. Keep holds a general advice licence, so we can explain options and features but can't make recommendations based on your personal circumstances.
Get a quote and see your 12.5% premium cashback estimate upfront - no phone calls, no obligation.
