Top life insurance companies in Australia: 2022 finalists
Top pick: Winner
NobleOak Life Insurance
Finder Award
$25 million sum insured
1st place in Finder Awards: 8.45 final score
Fully underwritten policy
Cheapest average policy price
Top pick: Finalist
TAL Accelerated Protection Life Insurance
Finder AwardBonus
Pays up to $5 million in TPD
2nd place in Finder Awards
Interim accident cover
$25,000 funeral advancement
Top pick: Finalist
RACWA Life Insurance
Pays up to $25 million
3rd place in Finder Awards
TPD and trauma options
$15,000 funeral advancement
We created an algorithm that rates policies based on more than 10 different factors. These included price, benefits, claims outcomes and extra features. Using 16 different customer profiles, we received quotes from 10 different insurance brands and looked at 161 quotes. We then applied our algorithm to those 161 quotes to come up with an overall score for each brand. You can find more top picks and read more about our methodology here.
Compare life insurance brands and prices
To give you an idea of how much life insurance costs, we requested quotes from 12 different insurers using the profile of a 40-year old, non-smoking accountant with 100K annual income, has no pre-existing medical conditions and is seeking $500,000 life insurance.
The pricing in the table is the premium amount per month.
*These average quotes were taken in October 2023 and are subject to change.
Finder survey: What is the main reason people take out life insurance?
Response
Male
Female
Peace of mind
10.39%
9.14%
I have a mortgage
6.12%
4.04%
I have financial dependents
5.94%
3.69%
Other
2.23%
2.28%
I'm self-employed
0.93%
0.88%
I'm worried about being made redundant
0.74%
0.53%
Source: Finder survey by Pure Profile of 1110 Australians, December 2023
What's the difference between a life insurance company and a brand?
Companies. These are the ones who create the policy and assess the risk of the applicant,
Brands. This is who distributes and sell the policies to customers online or through advisers.
Note: A company can also be a brand, e.g. TAL also sells under its own brand TAL.
Compare life insurance policies side-by-side
1 - 8 of 13
Why compare life insurance with Finder?
You pay the same price as buying directly from the life insurer.
We're not owned by an insurer (unlike other comparison sites).
We've done 100+ hours of policy research to help you understand what you're comparing.
Life insurance companies list – Australia
There are currently 24 listed life insurance companies in Australia, according to the latest Australian Prudential Authority (APRA) (Updated 12 January 2023).
AIA Australia Limited
Allianz Australia Life Insurance Limited
Challenger Life Company Limited
ClearView Life Assurance Limited
Combined Life Insurance Company of Australia Ltd
General Reinsurance Life Australia Ltd
Hallmark Life Insurance Company Ltd
Hannover Life Re of Australasia Ltd
HCF Life Insurance Company Pty Limited
Integrity Life Australia Limited
MetLife Insurance Limited
MLC Limited
Munich Reinsurance Company of Australasia Limited
Pacific Life Re (Australia) Pty Limited
QInsure Limited
Resolution Life Australasia Limited
RGA Reinsurance Company of Australia Limited
RLNM Limited
SCOR Global Life Australia Pty Limited
St Andrew's Life Insurance Pty Ltd
Swiss Re Life & Health Australia Limited
TAL Life Insurance Services Limited
TAL Life Limited
Zurich Australia Limited
APRA also currently lists 10 registered 'Friendly Societies' that it regulates (Updated 18 January 2024).
You pay the same as buying directly from the life insurer. Better still, we regularly run exclusive deals that you won't find on any other site – plus, our tables make it easy to compare policies.
We're experts
Our team of life insurance experts have researched and rated dozens of policies as part of our Finder Awards and published 250+ guides to make it easier for you to compare.
We're independent
Unlike other comparison sites, we're not owned by an insurer. That means our opinions are our own and we work with lots of life insurance brands, making it easier for you to find a good deal.
We're here to help
Since 2016, we've helped 270,000+ people find life insurance by explaining your cover options, simply and clearly. We'll never ask for your number or email. We're here to help you make a decision.
Frequently asked questions
While there is no single best life insurance company for everyone. We recently scored several policies based on price, features and add-ons. The companies that stood out include TAL, NobleOak and AIA.
According to the latest Australian Prudential Authority data, there are currently 27 listed life insurance companies in Australia.
The 6 main types of life insurance in Australia are death cover, income protection, trauma cover, TPD cover, funeral insurance and accidental injury/death.
Gary Ross Hunter is an editor at Finder, specialising in insurance. He’s been writing about life, travel, home, car, pet and health insurance for over 6 years and regularly appears as an insurance expert in publications including The Sydney Morning Herald, The Guardian and news.com.au. Gary holds a Kaplan Tier 2 General Advice General Insurance certification which meets the requirements of ASIC Regulatory Guide 146 (RG146).
Life insurance can be bought directly from an insurer. Learn about the benefits and a few watch outs you should be aware of.
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finder.com.au is one of Australia's leading comparison websites. We are committed to our readers and stands by our editorial principles
We try to take an open and transparent approach and provide a broad-based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.
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