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Life insurance comparison

We've helped more than 150,000 Australians compare life insurance. Find a policy and buy with trust.

1 - 8 of 13
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.
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.
$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.
$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 required.
Bonus
$15,000
$5 million
(maximum cover)
$25 million
Our verdict: RAC’s maximum death cover limit of $25 million is one of the highest limits you’ll find, including $5 million in TPD insurance. You can get an online quote, but you’ll need to call RAC to get trauma cover. Benefit from added peace of mind with fully underwritten insurance.

⭐ Current offer: Receive one month free when you apply for Life Insurance by 28 March 2024. T&Cs apply.
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.
Bonus
$10,000
$0.25 million
(maximum cover)
$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: Enjoy 5% off your premiums every year for the life of the policy when you take out a new AAMI Life insurance policy. Offer ends 8:59am (AEST) 2nd of April 2024. New customers only. T&Cs apply.
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: Enjoy 5% off your premiums every year for the life of the policy when you take out a new Suncorp Life insurance policy. Offer ends 8:59am (AEST) 2nd of April 2024. New customers only. T&Cs apply.
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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.

What is life insurance?

Life insurance pays a lump sum of money when you die or become terminally ill.

You can select how much you want to receive. Options typically range from $100,000 to $25 million.

The money is given to the people you nominate as the beneficiaries when you take out a policy. This means, if you die, your loved ones will still be able to afford mortgage payments, ongoing bills and other living expenses.

How much does life insurance cost?

A $500,000 life insurance policy costs an average of $35 per month for non-smoking 30- and 40-year-olds, according to our 2023 Finder Awards research.

To get this price, we gathered 40 quotes from 13 brands including TAL, NobleOak and Zurich for 30- and 40-year-olds (20 males and 20 females) applying for a life insurance policy. The payout selected was $500,000. They had no pre-existing conditions and did not smoke.

Actual quotes will vary depending on your personal circumstances. The cost of life insurance depends on your age, health, occupation and the benefit amount you select – for example, a $500,000 policy will cost less than a $1 million life insurance policy.

Finder life insurance award

Best life insurance winner 2023

NobleOak's life insurance policy won this year's Finder Award. It won because it was cheaper than 8 of the 10 insurers we researched and covers more than most. For example, it can pay out up to $25 million if you die or are diagnosed with a terminal illness – most policies have a $1.5 million cap.

Other types of life insurance

TPD insurance

Total and permanent disability (TPD)

TPD covers you if you get severely injured or sick. For example, if you become blind or paralysed after a car accident and become permanently disabled.
Typical cover range: $50,000 to $5 million.

Trauma insurance

Trauma insurance

Trauma cover, sometimes called critical illness cover, is a policy add-on that pays a lump sum if you're diagnosed with a major medical condition, such as cancer or a heart attack.
Typical cover range: $500,000 to $2 million.

Income protection

Income protection

Income protection insurance pays a monthly benefit if you're unable to work due to illness or injury. Usually, it will only pay up to 70% or 75% of your typical wage for a period of 2 or 5 years.

Alex Holderness

I've never really thought about my life insurance, but after having a baby and buying a house in the same year I felt now was the time I needed to take out cover. Having a policy that would cover my mortgage payments is one less thing I now need to worry about.
— Alex Holderness, Finder's head of publishing, parent and homeowner

Learn more about life insurance

Our life insurance guides can help you compare and understand what cover option is right for you.

Life Insurance Box 1

What is life insurance?
Discover the ins and outs of life insurance, from how it works to why it's so important for many families.

Expert tips on comparing life insurance

Speak to a life insurance broker

Enter your details and one of our partner brokers will call you. They will discuss your quote, options and available products. Not available to those over 75 years old.

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An adviser can help you find cover from trusted life insurance brands.

  • Get competitive quotes from multiple brands
  • Lower rate of declined claims (according to ASIC)
  • Save time and effort

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Why you can trust Finder's life insurance experts

free

We're free

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.
expert advice

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.
independent

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.
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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.

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