Finder makes money from featured partners, but editorial opinions are our own.

Life insurance worth dying for

It might not be fun, but it doesn't have to be grim. We analysed 40 quotes to find the top policies to protect you and yours.

Gary Ross Hunter's headshot

By

Gary Ross Hunter

Updated

Man in suit riding a mini tricycle with a rocket on his back
Best life insurer

TAL

Finder Award
  • Cheapest policy on average
  • No set limit for maximum cover - only provider on the market to offer this
  • 2024 Finder Awards winner
Health support

Medibank

  • 24/7 access to Medibank Nurse phone service
  • Medibank health members get 10% off
  • Up to $2.5 million payout
  • No medical tests are required to apply
Highly commended

NobleOak

Finder Award
  • Comparatively low claims processing time
  • Choose up to $25 million in cover
  • 2024 Finder Award - Highly Commended
Gary Ross Hunter
Expert picks selected by Gary Ross Hunter – insurance and innovations editor at Finder

Best life insurer: TAL life insurance

TAL Accelerated Protection Life Insurance
Best Life Insurance
  • Zurich and NobleOak also offer cheap cover. They were a few dollars more expensive in our awards research.
  • Claims acceptance rate of 86.4%. The average is 90.7%.
  • Some negative reviews online; in part because it's Australia's largest insurer, with 33% of the market share.
Go to site

Top pick for health support: Medibank life insurance

Medibank Life Insurance
  • 24/7 access to Medibank Nurse to talk about any health concerns.
  • Medibank health members save 10% every year.
  • Get up to $2.5 million in cover – that's $1 million more than AAMI, Suncorp, ahm, Insuranceline and Zurich.
  • $2.5 million cap is lower than NobleOak, RAC and TAL.
  • Discount only applies if you have Medibank health insurance.
  • Only offers stepped premiums (increase as you age).
Go to site

Highly commended: NobleOak life insurance

NobleOak
Best Life Insurance
  • 94.9% of claims paid out in the latest period. The industry average is 90.7%.
  • Get up to $25 million in cover – most offer up to $1.5 million.
  • Above-average claims processing time of 0.9 months. The industry average is 2.5 months.
  • Only offers stepped premiums (they increase as you age).
  • Out of 190+ quotes, TAL was typically cheaper on average, although only by a few dollars.
  • NobleOak has a $25 million life insurance cap. TAL has no cap.
Go to site

Compare life insurance

1 - 7 of 21
Updated regularly
Name Product Optional TPD Cover Optional Trauma Cover Maximum Cover
Finder AwardBonus
$25,000
$3 million
(maximum cover)
No set limit
Our verdict: One of Australia's leading life insurers. Automatically includes child critical illness cover. Plus, it comes with a level premium option (e.g. costs remain similar as you get older).

⭐ Current offer: 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. Offer T&Cs on insurer website apply.
Get QuoteView details
$15,000
$1.5 million
(maximum cover)
$2.5 million
Our verdict: Medibank offers a higher payout limit ($2.5 million) than 15 other providers. Get a 10% discount if you're already a Medibank Health Insurance member.

⭐ Current offer: Save 10% on your first year of Medibank Life Insurance when you apply by 31 July 2024. T&Cs apply.
Get QuoteView details
Finder Award
$15,000
$5 million
(maximum cover)
$25 million
Our verdict: Finder Life Insurance Award winner for the last 5 years in a row. Good value for money, simple application process and a high claims acceptance rate.
Get QuoteView details
$15,000
$1 million
(maximum cover)
$1.5 million
Our verdict: ahm offers a simple application process. You can be approved online or over the phone. There are no medical or blood tests needed.

⭐ Current offer: Get 10% off your first year of ahm Life Insurance when you apply by 31 July 2024. T&Cs apply.
Get QuoteView details
Bonus
$10,000
$1 million
(maximum cover)
$1 million
Our verdict: The application is simple; it can be done with 1 phone call and there are no medical exams. But households with larger debts may need more than a $1 million payout.

⭐ Current offer: Get back 10% of the premiums you’ve paid after 1 year.
Get QuoteView details
Bonus
$10,000
$1.5 million
Our verdict: There’s flexibility with AAMI as you can add another adult to your cover, with a competitive limit of $1.5 million. Easy application process with no medical exams.

⭐ Current offer: Save up to 10% on premiums every year for the life of the policy on AAMI Life Insurance. Offer ends 30 Sept 2024. T&Cs apply.
Get QuoteView details
Bonus
$10,000
$1.5 million
Our verdict: Competitive maximum cover limit of $1.5 million. Suncorp lets you change your cover amount by up to $100,000 after a big life event, such as having a baby.

⭐ Current offer: Save up to 10% on premiums every year for the life of the policy on Suncorp Life Insurance. Offer ends 30 Sept 2024. T&Cs apply.
Get QuoteView details
loading
Gary Ross Hunter's headshot
Editor, Insurance & Innovations

Gary Ross Hunter was 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). See full bio

Gary Ross's expertise
Gary Ross has written 725 Finder guides across topics including:
  • Health, home, life, car, pet and travel insurance
  • Managing the cost of living

More guides on Finder

Go to site