Death Insurance

Death cover is not just limited to life insurance payouts. Most life insurers will offer benefits related to death cover, like an advance funeral benefit. This will help with any immediate costs that a funeral requires. Take a look at the funeral benefit limits in the policies below and get a quote.

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Name Product Minimum Cover Maximum Cover Funeral Benefit Maximum Entry Age Terminal Illness Benefit
NobleOak Life Insurance
No minimum
Get your one month free when you buy NobleOak Life Insurance policy. Offer ends 31 October 2021. T&C's apply.
Real Family Life Cover
Get a refund of 10% of the premiums you've paid (in the first 12 months) with The Real Reward™ .
Zurich Ezicover Life Insurance
Get your first month free and a 10% discount by taking out a second life insurance policy (discount applies to the second policy). Customers who suffer a serious side effect from an approved COVID vaccination may be eligible for a $50,000 one-off payment. T&C’s apply.
Medibank Life Insurance
Medibank health members save 10% on premiums every year. T&Cs apply.
RAC Life Insurance (Only available in Western Australia)
Not stated
When you purchase RAC Life Insurance, WA residents receive complimentary RAC membership which includes access to discounts on fuel, savings on shopping, entertainment and more. T&Cs at

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Death insurance cover, also called life insurance, will pay out a sum of money (for example $500,000) so that your loved ones can take care of ongoing expenses - like a mortgage for instance. It's worth considering death cover if:
  • You're starting a family
  • You own a home and mortgage
  • You don't want your family to take on your debts when you die

What is death insurance cover?

If something happens, death cover can deliver peace of mind for you and your family. It can help secure your family's future and ensure they don't need to face the burden of financial uncertainty while simultaneously coping with grief.

  • Lump sum payments in the event of death or terminal illness
  • Advance payments to help cover the immediate costs
  • Financial planning and counselling benefits for your family
  • Benefit payments available in the event of serious injury or illness

No one knows what will happen in the future, and it can be hard to tell what the immediate and ongoing effects of loss might have on your family. The range of benefits available with death cover policies can let you minimise the impact as far as possible, and take proactive steps to care for your children and partner.

What type of expenses am I covered for?

Some of the expenses that death cover can provide relief for, include:
  • Rent or mortgage repayments
  • Children’s education expenses
  • Daily living expenses and needs, such as food and clothing
  • Costs to hire housekeeper or nanny
  • Home maintenance costs
  • Funeral expenses
  • Legal expenses
  • Estate settlement costs

How do I determine my life insurance needs?

There isn't one death cover that is ideal for everyone, which is why it is important to assess and compare different policies to determine which plan would be most suitable for you and your family's needs. Here are a few things to consider when calculating the right amount you need:

  • You current annual income. Replacing your lost income for the years required
  • Short-term and long-term debts. This often includes mortgage, credit card debts, personal loan, and car loan
  • Your immediate expenses. This includes food, clothing and shelter (rent payments, if you don't own your home)
  • Your children's education expenses. Consider the number of children you have and their respective ages to determine the total amount of expenses
  • Emergency funds. Work out how much of your expenses such as a funeral arrangement, medical treatments, legal fees and estate settlement costs can be covered by your savings.

You can use a life cover calculator to give you an indication on how much you may need for a death cover. If you want further guidance, an experienced death cover agent can help you in determining an ideal amount that will match your needs situation, as well as providing tailored advice on life policies that suit what you require.

Enter your details and one of our partner brokers will call you. They will discuss your quote, options and available products.

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An adviser can help you find cover from trusted life insurance brands.

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What forms of death cover are available?

The two main types of life insurance are term life insurance and funeral cover, both of which can pay out the full sum insured on death. If you are not eligible to obtain term life insurance (such as due to medical conditions or age), a funeral plan may be a good option.

Term life insurance
  • Helps provide for one's partner or family in years to come. Can be adjusted over the years as you enter different life stages and your financial needs and obligations change.
  • Generally a more flexible and detailed type of cover than funeral insurance.
  • Choose from a wider range of benefits and payout conditions that suit your needs.
  • Often significantly higher maximum benefits than funeral insurance.
Funeral plans
  • You can take out a specific amount of cover, such as $20,000, which is paid to your beneficiary when you die and can be spent at their discretion.
  • Can cover administrative costs and mortuary fees, and the funeral itself.
  • You can generally have two people on the same funeral plan, and should either one pass away, the other can receive the benefits.

Death cover for different life stages

Early adulthood, age 18 - 35

You're relatively young and healthy and your premiums are reasonably low. You might be single, or you might have a family and dependents and can find a level of cover to suit.

As your responsibilities grow you will typically be adjusting your policy and increasing your level of cover later on. Here, additional disability cover with term life insurance can deliver an important extra layer of protection for you in the event of life-changing accident or illness.

Adulthood, age 35 - 55

You may be married with children and you might be bearing more financial obligations. Investments and debt can also make up a significant portion of your finances which should be considered when comparing life insurance policies or adjusting cover.

If you don't have children already, you may be planning for kids in the future, and their age will determine how far ahead you need to plan for their education expenses.

Disability can be just as significant a concern as death, putting you and your family in a difficult position. With more assets, costs and dependents, as well as your retirement to think about, a comprehensive and versatile life policy can be important in this life stage.

Pre-retirement, age 55-65

At this point, if you have children, they will likely have moved out and you would be looking towards retirement. Protecting your investments and assets through life insurance may be an important part of retirement planning, and paying off the mortgage and other debt before retirement is also a concern.

Don't underestimate the level of cover you might need in order to provide for a long retirement spanning several decades. Consider your children's circumstances when looking at policies, as well as the likelihood of your partner being able to return to the workforce if something happens.

Retirement, age 65+

After retirement, your financial obligations will generally have decreased, but naturally so has your income. You can get cover to help you keep up with your plans, such as travelling, in line with your financial capacity. The assets you've spent a lifetime building may need to be protected, and any financial obligations towards your partner or other dependents.

Estate planning and aged care costs can be worth considering, as are growing medical expenses or costs relating to other health needs. Financial planning might also be important to consider, specifically in the form of estate tax mitigation and budgeting for an extensive retirement with many years ahead.

Finding a policy to match your budget and help maintain your lifestyle while protecting important obligations depends largely on your circumstances, such as your age of retirement and current income from assets.

Can death cover pay for accidents and injuries?

In the event of a fatal accident or injury, death cover of both types, funeral plans and term life insurance, can pay out, while some benefits may also be available for survivable accidents or injuries, although these are generally only available with term life insurance policies.

What is funeral cover?

Funeral cover is a simple insurance product that can provide many benefits and you have the flexibility to choose the amount you want to insure yourself for. If you are in the older age group and have little debt all, you may want to consider a funeral plan that will take care of your funeral costs, which can be quite considerable in this day and age. Funeral costs are the type of expenses that you wouldn't want to burden your loved ones with and with a funeral plan in place, your family can be rest-assured that they can afford the arrangement that you would've wanted.

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