Get up to 15% off your TAL Life, Trauma or TPD insurance policy for life - if you have a Body Mass Index (BMI) between 19 and 28 at the time of your application. T&C’s apply.
Your family could have 2 chances to save on its insurance: Your first month is free and, by taking out a second life policy, you can get a 10% discount on that policy.
Zurich offers premium suspension cover of up to 12 months to help you if you're struggling financially. Most insurers don't offer this.
A $15,000 payout for funeral costs is competitive.
What you're covered for
Max cover: $1,500,000
Funeral benefit: $15,000
Optional TPD cover: No
Optional trauma cover: No
Current offer:
Policy discounts include 10% off for your partner if you sign up for a joint policy. You can also get 5% off income protection if you buy it alongside your life cover.
Good discounts on offer: 1 month free if you pay annually, 5% multi-life policy discount.
AAMI has a competitive maximum cover of $1.5million, consistent with other brands in the market.
AAMI came in second place in Finder's 2024 customer satisfaction awards.It scored highly in the following areas; customer service, features and benefits, ease of application, value for money and reliability. It scored 4.18/5 overall.
What you're covered for
Max cover: $1,500,000
Funeral benefit: $10,000
Optional TPD cover: No
Optional trauma cover: Yes
Current offer:
Purchase a new AAMI Life Insurance policy and save $100 on your first year. T&Cs apply.
Life cover, also known as "death cover" provides a lump sum payment to your beneficiaries when you pass away. Life cover is designed to financially support your loved ones and allow them to maintain their lifestyle when you are no longer around.
There are a few different types of life cover available, including:
Total and permanent disability (TPD) insurance. Provides a lump sum payment if you become totally and permanently disabled and are unable to work again. This cover can help pay off debts such as a mortgage, fund medical and rehabilitation costs and support your ongoing living expenses.
Income protection insurance. Replaces a portion of your income if you're unable to work due to illness or injury. It helps you continue meeting everyday expenses like rent, bills and groceries while you recover and return to work.
Critical illness insurance. Pays a lump sum if you're diagnosed with a specified serious illness, such as cancer, heart attack or stroke. This cover can be used for medical treatment, recovery costs or to ease financial pressure while you focus on your health.
How to compare life cover
Comparing life cover helps you find a policy that suits your needs and budget. While price is important, it's also essential to understand what you're actually covered for.
When comparing life cover policies, consider:
The type of cover offered (life, TPD, income protection or critical illness)
The amount of cover and benefit payments
What is included and excluded in the policy
Waiting periods, benefit periods and claim conditions
Premium structure (stepped vs level premiums)
The insurer's claims process and reputation
Taking the time to compare policies can help ensure you choose cover that provides the right level of protection when you need it most.
FAQs
Life cover, also known as life insurance, provides a lump sum payment to your nominated beneficiaries if you pass away or are diagnosed with a terminal illness. The payment can help your loved ones manage financial commitments, like your home loan, everyday living expenses, debts and future costs during a difficult time.
There are several types of life cover available, including life insurance, TPD insurance, income protection insurance and critical illness insurance. Each type of cover serves a different purpose, and many people choose a combination to ensure comprehensive financial protection.
The best life insurance for you will depend on your personal profile and budget, however, we've done some research to help get you started. In 2024, TAL life insurance was the winner of our best life insurance award. This is because TAL offers competitive pricing and extensive benefit limits. In short; it's well priced for such a good product. Keep in mind, you should always get your own quote and read through the product disclosure statement to know if this product offers the kind of coverage you're looking for.
To be straight with you, only you can answer this one. Life insurance is one of those products you hope you never have to use because for it to ever be used, something terrible has to happen first. However, you may deem it 'worth it' for the peace of mind it brings you and your family. Life insurance can cover the cost of major debts like your mortgage in the event you're unable to do so yourself. For many, knowing your family would be financially stable in the event of your passing makes life insurance worth it. If you're not sure whether or not life insurance is necessary for you, this article can help you assess your needs and what your family would need in the event of your passing.
A life insurance payout goes to the beneficiary; this is the person you choose at the time of taking out your policy. In the event of your death, the beneficiary — which can be 1 person or a selection of people — would get the payout.
If you cancel your life insurance, you will no longer be covered as of the date you cancel. If you've paid your premium in advance then you may be refunded for the unused portion of it, minus any cancellation fees you may owe.
It's an individual assessment depending on your cashflow, retirement funding and tax situation. While it's often cheaper and easier to hold life insurance within super, it reduces the amount in your retirement fund. Additionally, the payout is usually small and the policies typically expire when you turn 65. With a traditional life insurance policy, the expiry age is usually around 99 or there is no expiry age at all, as long as you keep paying your premiums.
Yes, it is possible. If you have a pre-existing medical condition, there are insurers who will still cover you. But they might ask you to pay slightly higher premiums or exclude that condition from your cover. It's really important to disclose any condition you have when you apply for life insurance. Not doing so could void your cover.
Child life insurance is a feature you can add to your life insurance policy for an added fee. It will pay out a financial benefit if your child dies or suffers a serious medical condition.
Peta Taylor is a publisher at Finder, working across all of insurance. She's been analysing product disclosure statements and publishing articles for over 2 years. Peta is passionate about demystifying complex insurance products to help users make well educated decisions with confidence. Peta is part of Finder's insurance awards team and works alongside editorial and insights experts to bring users the best insurance products every year.
See full bio
Get rewarded $$ for switching with Finder Rewards
Find a better deal, save on your bills and get a free gift card. Sign up to be the first to hear about new Finder Rewards.
Finder members can get up to $300 when they take out a NobleOak life insurance policy - but this limited-time offer ends 30 June or unless withdrawn earlier
Finder makes money from featured partners, but editorial opinions are our own.
Finder is one of Australia's leading comparison websites. We are committed to our readers and stand 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.
Some product issuers may provide products or offer services through multiple brands, associated companies or different labeling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.
We make money by featuring products on our site. Compensation received from the providers featured on our site can influence which products we write about as well as where and how products appear on our page, but the order or placement of these products does not influence our assessment or opinions of them, nor is it an endorsement or recommendation for them.
Products marked as 'Top Pick', 'Promoted' or 'Advertisement' are prominently displayed either as a result of a commercial advertising arrangement or to highlight a particular product, provider or feature. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. We encourage you to use the tools and information we provide to compare your options.
Where our site links to particular products or displays 'Go to site' buttons, we may receive a commission, referral fee or payment when you click on those buttons or apply for a product.
When products are grouped in a table or list, the order in which they are initially sorted may be influenced by a range of factors including price, fees and discounts; commercial partnerships; product features; and brand popularity. We provide tools so you can sort and filter these lists to highlight features that matter to you.
Please read our website terms of use and privacy policy for more information about our services and our approach to privacy.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
How likely would you be to recommend Finder to a friend or colleague?
0
1
2
3
4
5
6
7
8
9
10
Very UnlikelyExtremely Likely
Required
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
The information provided by Frankie is general in nature and has been prepared without considering your objectives, financial situation or needs. Frankie may make mistakes so it's important that you review the information before deciding. By messaging Frankie, you agree to our Terms and have read our Privacy Policy.
