snapshot of life insurance quotes for 20 November 2017

Below is a quick view of how much life insurance can cost you, per month.

PolicyCover amountMonthly premium*
TAL Accelerated Protection$500,000$23.48
MLC Insurance$500,000$25.58
ClearView LifeSolutions$500,000$25.77
AMP Elevate$500,000$28.59

*Prices are an estimate based on a 35 year old non-smoking male office worker. Quotes last checked on November 2017 and are subject to change.

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Welcome to Life Insurance Finder™

Find the right cover for what matters most.

Use our engine to compare rates from Australian life insurance brands. Quotes are provided free and there is no obligation to sign up.

What types of life insurance can I compare here?

Is it hard to compare cover on

It's easy. Just follow this process:

1. Understand your needs

Consider how much and what type of cover you'll need.

Consider your future financial goals and family's needs if you are to pass away e.g. paying off mortgage. This will help you choose a cover amount.

Calculate your life insurance needs

Assess your current needs and decide if you need ‘living insurance’ such as trauma or total and permanent disability (TPD) cover.

2. Compare prices and more

Enter a few details into our quote engine to get an online comparison of price, features and benefits, as well as age limits. Our comparison tool can help you save money on your policy.

3. Apply direct or with an adviser

How much help will you need with your application?

Consider speaking to an adviser.. If you’d prefer someone to assess your situation and help find a policy to match your requirements, speak to an adviser. An adviser can guide you through the application process.

Get your cover directly with a life insurance brand.
If you completely understand your life insurance needs and prefer to apply without the help of an adviser, then applying directly is a suitable choice.


I saved $984 ($82 per month) on my life insurance

I jumped on Finder to compare mine and my partner’s life insurance policies. Dropped in my details and within a few minutes got a call from an insurance consultant - to my surprise he quoted the same cover we currently have but saved us a combined total of $82 per month in premiums...That’s seriously impressive for 5 minutes of my time! Plus I was told we’ll get a 20% rebate on our first years premiums!

Aaron S. Bowral, NSW

Why should I use finder over other sites?

Life insurance is a complex product and we don't just want you to compare blindly. That's why we've put together some simple resources to help you make an informed decision:

Not sure how life insurance works? Watch a 2 minute video

Some guides to help you make an informed decision

Latest industry news


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Life Insurance: How does it work?

Life insurance is commonly referred to as life cover, death cover or term life insurance. It pays out a lump sum benefit if:


You pass away

A benefit will go to your loved ones in the event of your death.

You become terminally ill

If you are diagnosed with a terminal illness (you are likely to pass away within 12 months).

A life insurance payment can be used to achieve financial goals such as:


Handling every day living expenses


Paying off a mortgage or buying a house


Taking care of your debts

educationRaising children

How do I find cover that suites me?

The process of finding the right cover involves asking yourself a few simple questions:

Find out what you can actually be insured for and what you stand to receive in the event of a claim. Some insurers will allow for an unlimited amount of life cover to be taken out while others will cap it for certain occupations and age groups.

Consider age limits e.g. when you can no longer apply and when your policy will stop covering you.

If you are a senior looking for cover, age limits and when your policy will end can vary between insurers.

Some insurers will offer what is known as “Guaranteed Insurability” which lets you increase your cover without having to take another medical exam.
Look at the range of features provided automatically and those that can be purchased for an additional premium. It might be painful but actually taking the time to get an understanding of these and whether they actually apply to your situation is extremely valuable.

Most insurers will let you combine your life cover with TPD and Trauma to ensure you have adequate protection for “living events”. Combining cover should result in a premium discount.
Conditions on the cover that is provided can vary between insurers based on your occupation. There may be insurers specialising in cover for your occupation i.e. if you are a high-risk worker.
Find out if there are any restrictions to adjusting your level of cover, who is covered on your policy and if you can remove certain features.
An insurance consultant can help you assess your situation and find a policy to match your cover requirements. They can use their knowledge of the insurance industry to help you find discounts and insurers willing to work with your situation.

How much cover should I get?

Everybody’s situation is different so theres no perfect answer. A general tip is to decide on an amount that covers immediate and ongoing costs if you pass away e.g. rent and food so that your loved ones can continue life without you.

4 factors to consider

1. Outstanding debt you don't want to burden your family
  • Outstanding mortgage payments
  • Any personal debt you still have (personal loans, car loan, credit cards)
2. Cover you already have your family can fall back on
  • Savings you have accumulated
  • Assets that may be sold i.e. second car
  • Investments (property, shares etc.)
  • Life insurance you already have in your superannuation


3. Your families ongoing living expenses
  • Rental repayments
  • Vehicle and transport costs
  • Food and other everyday expenses
  • Education/child care costs
  • Entertainment and vacations
4. Length of cover to choose
  • Your age and the age of your partner
  • Earning capacity of your partner now and in the future
  • Number of children and their ages

Estimate with our calculator

You may like to use our life insurance calculator to get an estimate for how much cover to take out.

Speak to a consultant

Not sure what cover you need? Enter your details at the top of the page to discuss different options with an insurance consultant.

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Guide: Right time to buy life insurance

How do the different types of life insurance work?

ComparisonLife coverIncome ProtectionTraumaTPDFuneral InsuranceAccidental injury / death
Payment type:Lump sumOngoing monthly benefit of up to 85% of regular incomeLump sumLump sumLump sumLump sum or income protection
Main purposePays out to loved ones in the event of your deathKeep up with your expenses if you are forced to take some time out of work due to accident, illness or major traumaPays out if you're diagnosed with specific illness e.g. stroke so that you can focus on your recoveryPayment to clear debts, cover medical costs if you become permanently disabledCover the cost of your funeral (up to $30,000)Provides cover in the event of accidental injury /death (no sickness cover)
  • Advance payment for funeral expenses
  • Worldwide cover
  • Pays until you can return to work or to retirement age of 65
  • Premiums are generally tax-deductible (outside super unless self-employed)
  • Additional benefits provided to cover rehabilitation expenses
  • Can be bundled with life cover
  • Some policies cover up to 50 different medical conditions
  • Can be bundled with life cover
  • No medical tests required
  • Cover for accidental death in first 12 months
  • No medical or blood tests required
  • Can be more affordable than income protection and life insurance
  • Cover anywhere, 24 hours a day 365 days a year
Minimum entry age181818181818
Maximum entry age(Next birthday)796464647964

Types of life insurance: 2017 guide

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Should I buy cover with an adviser or straight from the insurer?

Both options have benefits to consider so it really comes down to your own personal preference...

Reasons why people buy with an adviser

  • Access to wide range of products to give you greater choice.
  • Can use their knowledge of the market to help you find cover suitable for your situation.
  • Can help you assess your situation to determine what type/how much cover you require.
  • Can offer advice around life insurance inside and outside superannuation.
  • Generally offer higher cover levels and greater range of features.

Life insurance with advice

Reasons people go direct to the insurer

  • Usually no medical required on direct products
  • Cover can be put in place entirely online or over the phone.
  • You know straight away if your application is successful.
  • Immediate death cover once application is received.
  • Direct products are beginning to become more and more competitive with some cover amounts up to $15 million.
  • Number of general insurance products now offering cover for involuntary redundancy.

Direct life insurance guide

I've already got life insurance in my Superannuation, is it enough?

Most superannuation funds will provide members with a default level of cover which can be increased, decreased or cancelled altogether. If your employer is making super contributions through a default super fund, you most likely have a default level of cover for you. The cover provided in your super may be sufficient for your situation but you need to weigh up the benefits and drawbacks of this option and whether you require an additional level of protection;

Benefits of funding through super

  • Generally cheaper as cover is purchased in bulk by super fund.
  • Premium payments may be tax-deductible if paid with pre-tax dollars.
  • Self-employed workers under the age of 75 may be eligible to claim a tax deduction for personal contributions.
  • In some cases can arrange for employer to make contributions directly to their fund of an amount that will include the premium of life or disability cover.
  • Payments made automatically direct from your super and not your after tax income.
  • Reduced requirement for health checks.

Drawbacks of funding through super

  • Types of cover available is limited. Trauma insurance is no longer offered through superannuation.
  • Usually reduced level of cover offered to retail policies.
  • Benefits paid to non-dependents can attract tax.
  • Payment of benefit can be more complicated/drawn out as benefit is paid to fund trustee first who then distributes funds.
  • Cover is generally more comprehensive/flexible for policies outside of super.
  • Cover expires at age 70 (most policies outside of Super will continue to provide cover until age 90 or 100).

Life insurance inside super vs standalone cover

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Am I eligible for cover if...

  • I'm not an Australian resident? There are a number of insurers willing to provide cover. Typically:
    • You'll have to of lived in Australia for a period of 6 months and are intending to apply for permanent residency
    • Your Visa permits you to stay in Australia for a period of at least 2 - 4 years
  • I'm over 70 years of age? Yes. Most insurers provide cover to applicants up to age 75 (age next birthday) and some offer cover for customers up to age 79 (age next birthday). Most brands will reduce the level of cover that older applicants can apply for.
  • I have a pre-existing condition? It will depend on the nature of the condition and any treatment you are undergoing and the insurer themselves. The insurer will either exclude the condition from cover, request you submit more details about the condition or automatically accept it.
  • I work in a high-risk job? You will probably be required to pay a higher premium for cover than an office worker. It’s worth discussing your occupation with a consultant to give yourself the best chance of finding an insurer willing to offer competitive cover for your occupation.
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Don’t want to overpay but don’t want to be under protected?

Here are some tips to get quality cover that won’t send you broke;

  • Buy young and lock in a competitive rate. Taking out cover when you are younger means you can lock in a more competitive rate as oppose to when you're older and more prone to pre-existing conditions. Cover is guaranteed renewable so you don’t have to worry about being knocked back further down the track.
  • Find out how much cover you actually need. Take the time to assess what needs to be covered in the event your death/serious injury.
  • Find out what cover you already have. You may already have some cover from your or your employers superannuation fund. Find out how much is included and if extra cover is necessary.
  • Take the time to shop around. Comparing policies with a consultant from a range of insurers gives you a greater chance of finding the right cover at a competitive rate.
  • Consider salary continuance insurance. Salary continuance maybe more suitable if you are younger and don't have as many financial dependants.
  • Keep an eye out for special offers. Competition among insurers has resulted in an increase of special offers to help you save further on your cover. This may include free cover for the first year, access to health rewards programs and premium discounts.

Still need help? Check out these answers to common questions

Whether you need it
  • A. You may not want to pass on outstanding mortgage debt, personal debt or final expenses i.e funeral costs to your family and friends. What about income protection or TPD? If you suffer a serious injury and can’t work for a few months or ever again, what would you do then?
  • A. Most people are not fortunate enough to have adequate funds invested in a high-interest account that would be enough to cover their outstanding debts and give their family support for the future. With some life and disability claims reaching up to $2 million … it’s a fair wad of cash to just have sitting around!
  • A. Not exactly. Health insurance covers medical expenses that are associated with sickness and injury but does not provide support for bills, debts or loss of income if you can’t work for an extended period or ever again. Life insurance covers the gap between the expenses covered by health insurance and additional costs of ongoing treatment, rehabilitation and loss of income.
Receiving a life insurance quote
  • A. You receive a quote for cover by entering your details in the form above. A certified insurance consultant will then call you to discuss different policy options and provide you with a preliminary quote based on these details.
  • A. Life Insurance and Income Protection are not straightforward types of insurance and the cover that is available to you and what you will pay for it is greatly impacted by your own personal characteristics. Based on your Gender, Smoking Status, Age, Type of Protection, Occupation, Income and Level of Protection required a consultant can provide you with a preliminary quote for cover.

This preliminary quote can then change based on a number of factors including;

  • Any pre-existing medical conditions that you may have.
  • Nature of activities carried out in your occupation.
  • The policy you choose.
  • Style of premium you choose.
  • The policy fee charged
  • Stamp duty that is charged
  • A. The insurance consultants that work with have access to major life insurance brands in Australia and may have access to smaller specialist insurance groups as well. You can view the main panel of insurance brands that you can receive a quote for here.
Applying for cover
  • A. Australian and New Zealand Citizens, and Australian permanent residents (those residing in Australia at time of application). Age restrictions vary between brands and cover selected.
A. An insurance consultant can help you review your current policy to help you decide whether you can benefit switching to another option or increasing/decreasing the level of cover in your current policy.
  • A. Insurers class anyone that has smoked tobacco or any other substance in the last 12 months as a smoker.
  • A. No, generally they will be required to take out a separate policy.
  • A. Most insurers will only require medical or blood tests at application if the insured has a pre-existing condition that needs to be assessed further. Additional evidence may be required in the event of a claim.
  • A. It depends on the condition and treatment. Every insurer has different conditions for pre-existing conditions so it is best to check the PDS before taking out cover. If the insurer decides that your pre-existing medical condition presents to great a risk for them, they will generally exclude it from cover. As an example if you are applying for cover and have a history of back problems, your insurer may exclude all claims related to back conditions from your policy.
  • A. There are generally two options available to you:
  • It might be worth speaking with an insurance consultant to see if there are any other companies out there that are willing to provide you with cover. Assessment criteria is not the same for all insurers so it's always worth looking around if you have struggled to get cover due to a medical condition.
  • You may also be able to have your current insurer review your condition when it comes time to renew your policy to see if the exclusion can be lifted if your situation has changed.
Policy exclusions
  • A. Generally all deaths are covered except for suicide within the first 13 months of the policy. Accident only life cover will only provide cover for death that is the result of an accident. Some policies may exclude death related to pre-existing medical conditions for a set number of years from the start date of the policy.
  • A. Most policies will not pay a benefit for claims arising from;
  • Intentional self-inflicted injury or self harm.
  • Acquiring HIV, AIDS, Hepatitis B or Hepatitis C unless if through performing duties of the your occupation.
  • Disablement caused during engagement in armed forces of any country.
  • Claims related to pregnancy, uncomplicated childbirth or miscarriage.
  • Claims caused by your engagement in unlawful acts.
  • Claims from aviation activity unless you are a fare paying passenger on a scheduled flight.
Your policy
  • A. Yes. You can apply to increase or decrease your cover at any stage to meet your needs. It’s worth noting that you will be required to undertake another round of assessments with your insurer.
A. Yes. Most policies offer 30 day cooling off period whereby premiums paid during this period will be refunded. No premiums will be refunded if you cancel your policy after the cooling off period.
  • A. No. Life insurance is not an investment product and is designed to pay a benefit for death, terminal illness, injury or illness.
  • A. Yes. Most policies provide cover 24 hours a day anywhere in the world. Countries that have been advised against travel are generally not covered.
Making a claim
  • A. In the event of your death, your life insurance brand or super fund trustee will pay out the nominated death benefit to one or more of your financial dependents or to your estate. A “binding nomination” can ensure the benefit from the cover in your super is paid to the beneficiary of your choice. You should make sure your estate has the necessary documentation so that they can claim on your behalf (see below).
  • A. If you have life insurance through your superannuation and are concerned about who will receive the benefit payment, you can make what is known as a binding death benefit nomination. A binding nomination allows you to nominate exactly who will receive what in the event of your death, essentially making your Estate Planning more certain.
  • A. A binding nomination can be taken out on;
  • Your current spouse.
  • Child of any age.
  • People that are financially dependent on you at the time of your death.

The benefit payment can be distributed among the different beneficiaries provided you give details of the share you wish to be given to each beneficiary.

  • A. Generally, the beneficiary will need to provide:
  • A completed claim form.
  • Original policy document and policy schedule.
  • A copy of the deceased’s birth certificate.
  • A certified copy of the deceased’s will.
  • Probate or letters of administration.
  • A. If you claim for injury or illness on a life cover policy, your benefit will be reduced by the amount paid and your premiums adjusted accordingly.
  • A. Most policies allow you to nominate up to 5 beneficiaries on your policy.
  • A. The claim will be paid to your estate.

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5 Responses

  1. Default Gravatar
    August 5, 2017

    I am 58 years old female and my husband is 67 years old. We are self-employed farmers. We are both non-smokers.We have no dependents. We have no superannuation or savings, shares or investments of any kind. We have about $100,000 in debt on our farm. Our home in also on the farm. I was thinking about taking out a joint policy with my husband. I’m not sure which company would insure us because of our age. I have no idea where to start.

    • Staff
      LiezlAugust 5, 2017Staff

      Hi Anne,

      Thanks for reaching out.

      The insurance companies listed on this page ( offer life insurance policy to seniors who are over 60 years old. You may fill-in your information on the form and receive quotes. Alternatively, you may get quotes directly from the brands listed on the table. Simply click the green “Get Quote” button.

      I hope this will help.


  2. Default Gravatar
    RosemaryMarch 14, 2017

    Can i get life insurance if im unemployed

    • Staff
      ZubairMarch 15, 2017Staff

      Hi Rose,

      Thank you for your question.

      You may be able to get life insurance if you’re unemployed but you might be declined coverage for the lack of ability to pay for the policy.

      Please make sure though to read the eligibility criteria, features and details of the policy, as well as the relevant Product Disclosure Statement PDS/T&C’s of the policy before making a decision and consider whether the product is right for you. If necessary, speak to the insurance brand to verify any details.

      All the best,

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