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Finder Awards 2020 Best Life Insurance

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This policy offer cover $50,000 to $15 million. Features include grief counselling, financial planning, and terminal illness benefits.

Finalists:

Methodology: Best Life Insurance

Here's how our expert analysts assessed the Best Life Insurance category to pick the 2020 winner.

Selection and scoring

Quotes were obtained for a $500,000 policy for customers with the following profiles:

AgeGenderSmokerOccupation
30MaleFALSEAccountant
30MaleTRUEAccountant
30FemaleFALSEAccountant
30FemaleTRUEAccountant
40MaleFALSEAccountant
40MaleTRUEAccountant
40FemaleFALSEAccountant
40FemaleTRUEAccountant
50MaleFALSEAccountant
50MaleTRUEAccountant
50FemaleFALSEAccountant
50FemaleTRUEAccountant
60MaleFALSEAccountant
60MaleTRUEAccountant
60FemaleFALSEAccountant
60FemaleTRUEAccountant

Features were assessed as follows:

  • Fully Underwritten Score 10%
  • Max Sum Insured Score 15%
  • Guaranteed Renewability Score 10%
  • Expiry Age Score 15%
  • Counselling Benefit Score 5%
  • Premium Cover Suspension Score 5%
  • Interim Accident Cover Score 10%
  • Options Score 10%
  • Funeral Advancement Benefit Score 5%
  • Max Entry Age Score 15%

Overall score was calculated as follows:

  • Smoker Quote Score 10%
  • Non Smoker Quote Score 20%
  • Features Score 70%

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