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Direct life insurance

You’ve already saved by choosing to buy direct from the insurer. Narrow your search with the Finder filters and click through for a direct life insurance policy quote.

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1 - 8 of 8
Name Product Maximum Cover Maximum Entry Age Terminal Illness Benefit Average Claims Acceptance Rate Average Claim Time Sum Insured
NobleOak Life Insurance
$15,000,000
69
$15,000,000
98.1%
1.1 months
$20,230 million
Get 2 months free when you apply for one or more life insurance types with NobleOak's Premium Life Direct policy before 30 June 2022. T&Cs apply.
TAL Life Insurance
$2,000,000
74
$2,000,000
87.10%
2.9 months
$36,630 million
Finder verifies that TAL has more Australian lives insured than any other provider - for 3 years in a row. Plus, get up to 15% off with TAL’s Health Sense program.
Real Family Life Cover
$1,000,000
64
$1,000,000
90.20%
1.8 months
$53,462 million
Get a refund of 10% of the premiums you've paid (in the first 12 months) with The Real Reward™.
Medibank Life Insurance
$2,500,000
70
$2,500,000
87.30%
3.8 months
$31,745 million
With Medibank Life Insurance, you’ll also get access to the 24/7 Medibank Nurse phone service. Medibank health members will save 10% on premiums every year. T&Cs apply.
Zurich Ezicover Life Insurance
$1,500,000
69
$1,500,000
Data not available
Data not available
$12,444 million
Get your first month free and a 10% discount by taking out a second life insurance policy (discount applies to the second policy). T&C’s apply.
ahm Life Insurance
$1,500,000
65
$1,500,000
87.20%
3.8 months
$31,745 million
Get ahm life insurance by 30 June and keep your cover for 6 months to receive $100 cashback. T&Cs apply^.
RAC Life Insurance (Only available in Western Australia)
$25,000,000
69
$25,000,000
98.10%
1.1 months
$20,230 million
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 rac.com.au.
RACQ Life Insurance
$1,000,000
65
$1,000,000
97%
Data not available
Data not available
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Compare up to 4 providers

Direct life insurance is different to traditional retail cover: it's purchased directly from an insurer, as opposed to buying through an adviser or broker. Buying direct often only requires a limited amount of medical underwriting – or none at all.

What is direct life insurance?

Papers with magnifying glass icon

Direct life insurance

As its name suggests, direct life insuranceis when you take out cover directly either via a comparison site or on an insurer's website. You make a purchase without having to go through an adviser.

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Retail life insurance

A financial adviser takes care of the legwork for you, dealing directly with the insurer and advocating on your behalf. It can often take longer to get cover and sometimes it can cost you more as well.

Top picks for direct life insurance in Australia

Pros and cons of direct life insurance

Pros

  • The application process is usually quick and easy.
  • There's usually no medical examinations or blood tests.
  • There's lot's of competition which means you can often find discount offers e.g. one month free.
  • You can use comparison websites like Finder to compare policy features side-by-side.

Cons

  • Your policy might not be explained clearly to you.
  • You need to make sure you're accurate when filling out your application or you risk voiding your policy.
  • Too many choices can be overwhelming – if you go through an adviser, they'll do the work for you.

Cost of direct life insurance

Policy30 years old
  • Difference
40 years old
  • Difference
50 years old
AVERAGE$39.26
  • $10.77
$50.03
  • $67.31
$117.34
Bendigo Bank MaxLife Life Protect$62.82
  • -$2.67
$60.15
  • $71.68
$131.83
Insuranceline Life Insurance$44.64
  • $21.86
$66.50
  • $65.56
$132.06
Allianz Life Plan$31.65
  • $8.68
$40.33
  • $59.83
$100.16
RAC FlexiCover Life Insurance$28.65
  • $5.28
$33.93
  • $58.04
$91.97
ANZ Ezicover Life Insurance$38.51
  • $9.09
$47.60
  • $61.35
$108.95
Zurich Ezicover Life Insurance$38.51
  • $9.09
$47.60
  • $61.35
$108.95
AAMI Life Insurance$44.64
  • $21.86
$66.50
  • $65.56
$132.06
Suncorp Life Insurance$44.64
  • $21.86
$66.50
  • $65.56
$132.06
TAL Lifetime Protection$19.52
  • $1.50
$21.02
  • N/A
N/A
AHM Life Insurance$40.82
  • $11.18
$52.00
  • $71.34
$123.34
Medibank Life Insurance$42.96
  • $11.78
$54.74
  • $75.08
$129.82
NobleOak Premium Life Direct$23.11
  • $4.26
$27.37
  • $46.83
$74.20
Policy30 years old
  • Difference
40 years old
  • Difference
50 years old
AVERAGE$27.50
  • $12.09
$39.59
  • $52.01
$91.60
Bendigo Bank MaxLife Life Protect$36.06
  • $15.06
$51.12
  • $54.09
$105.21
Insuranceline Life Insurance$30.69
  • $22.32
$53.01
  • $61.85
$114.86
Allianz Life Plan$23.49
  • $7.82
$31.31
  • $40.86
$72.17
RAC FlexiCover Life Insurance$18.85
  • $5.27
$24.12
  • $44.48
$68.60
ANZ Ezicover Life Insurance$29.76
  • $7.96
$37.72
  • $40.39
$78.11
Zurich Ezicover Life Insurance$29.76
  • $7.96
$37.72
  • $40.39
$78.11
AAMI Life Insurance$30.69
  • $22.32
$53.01
  • $61.85
$114.86
Suncorp Life Insurance$30.69
  • $22.32
$53.01
  • $61.85
$114.86
TAL Lifetime Protection$12.07
  • $4.18
$16.25
  • N/A
N/A
AHM Life Insurance$31.22
  • $9.16
$40.38
  • $48.53
$88.92
Medibank Life Insurance$32.86
  • $9.64
$42.50
  • $51.10
$93.60
NobleOak Premium Life Direct$15.20
  • $4.26
$19.46
  • $35.88
$55.34

We calculated the average monthly cost of a life insurance policy with $500,000 in cover for a non-smoker, office worker living in NSW. Prices generated in March 2022 and are subject to change.

Which method of buying cover is right for me?

How to decide

Here's how buying direct compares to the options you have:

Should I consider an adviser?

'71% less likely' was calculated using figures from ASIC's Report 498: Life Insurance Claims: An Industry Review. The report states that the average declined claims in a non-advised policy is 12% in comparison to an advised policy at 7%. 12% (non-advised) is 1.71 times the amount of 7% (advised) hence a 71% less chance of an advised policy claim being declined.

FAQs about direct life insurance

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    2 Responses

    1. Default Gravatar
      DebbieNovember 18, 2016

      Price of life insurance for 21 year old student and 21 year old apprentice looking for lowest cost at this age thanking you

      • Avatarfinder Customer Care
        RichardNovember 21, 2016Staff

        Hi Debbie,

        Thanks for getting in touch. If you would like to get a quote for life insurance, you can do so by entering your details into the quote calculator.

        All the best,
        Richard

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