Award Winner: NobleOak Life Insurance
- Fully underwritten
- Up to $15 million cover
- TPD and Trauma options
Award Winner: NobleOak Life Insurance
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We know price is important, but we don't include costs in our direct life insurance comparison. That's because quotes are tailored to your specific circumstances. Compare benefits, then we'll take you directly to the insurer for you to get a personalised quote.
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We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
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Aside from the peace of mind life insurance can give you and your family, there are lots of concrete benefits that make life insurance a worthwhile investment:
Keep up with the rent or mortgage
Don't fall into debt if you're unable to work
Cover medical expenses if you prefer private healthcare
Pay for a nurse if you need home care
Afford everyday items, like groceries and utility bills
Make sure your family will be okay without your income
A financial adviser or insurance broker can help you understand which insurance options are best for your needs. Use the form below and an adviser will contact you directly to help you make the right insurance choices.
An adviser can help you find cover from trusted life insurance brands.
You'll never be charged for clicking through to one of our partners. We get paid out of their pocket, not yours.
We'll never give you the sales pitch and we'll avoid complicated jargon when we can. We want to help, not push a sale.
Searching through a lot of different policies can be hard. We let you compare policies side-by-side, taking the hard work out of it.
Life insurance provides your family with an agreed-upon sum of money in the event of your death or, in some cases, if you are diagnosed with a terminal illness.
Sometimes called death cover, this type of insurance is there to act as a financial safety net for your loved ones when you die. It means, if the worst happens, your loved ones will still be able to afford the mortgage and pay off any debts. Getting through an illness or grieving for a loved one is hard enough without money worries on top.
There are also other types of life insurance that provide more financial security if you are injured or become too sick to work:
If you're after more personalised quotes, follow the link below. You can get instant quotes and compare cover side-by-side. This gives you a better understanding of the cover that's on offer and how much it might cost you.
With the Finder life insurance tool, you can do the following:
Life insurance is often used as an umbrella term to describe lots of different types of personal insurance. You can either buy a standalone policy or bundle several policies together to create cover that is perfectly tailored to you and your family.
Life/death insurance pays a lump sum when you die. In some cases, it may also pay out if you are diagnosed with a terminal illness.
Trauma insurance pays a lump sum if you are diagnosed with a specific medical condition, such as meningitis or cancer.
TPD is short for total and permanent disability. It pays a lump sum if you are rendered totally and permanently disabled due to injury or illness. In some cases, it will pay a smaller lump sum if you are partially disabled.
Income protection pays a monthly benefit if you are unable to work due to illness or injury. Usually, it will only pay up to 75% or 85% of your typical wage.
Personal accident insurance pays a lump-sum benefit if you are injured or killed. Does not provide cover for illnesses.
Funeral insurance pays a lump sum to your family when you die, which they can use to cover the cost of your funeral.
It's possible you'll want more than one type of life insurance, so you can have peace of mind that you'll be covered in lots of different situations.
If you're unsure which type, or types, are right for you, start by focussing on your motivation for buying life insurance.
I want to make sure my family will be okay if I die
Life insurance/death cover might be right for you.
I want to make sure I can maintain my lifestyle if I can't work for a while
Income protection insurance might be right for you.
I want financial help if I suffer a serious injury or critical illness
Trauma insurance or personal accident insurance might be right for you.
I want to be able to cope if an injury or illness stops me from ever working again
TPD insurance might be right for you.
I don't want my family to have to pay for my funeral
Funeral insurance might be right for you.
I already know that my family and I will be fine no matter what happens
You may not need life insurance at all.
Remember, you can mix and match different types of life insurance to create cover that is perfect for you and your family.
For example, combining death cover with income protection would mean you're protected if an injury or illness stops you from working, and your family will also be protected if you die.
There are three ways to get life insurance in Australia: direct, retail and super. Each option has its own pros and cons. Check them out below to figure out which way might be best for you.
What it means | Pros | Cons | |
---|---|---|---|
Direct | Do the research yourself and speak to an insurer directly | ✅ Quick approval process ✅ Might not require a medical | ❌ You have to do the research yourself ❌ Typically has more exclusions |
Retail | Get advice from a broker who then finds the best cover for you | ✅ Get expert guidance from a broker ✅ More comprehensive cover | ❌ Longer approval process ❌ May require a medical |
Super | Get it through your super fund | ✅ Guaranteed acceptance ✅ Very convenient | ❌ Premiums eat into your super balance and affect your retirement ❌ Typically far more restrictive cover |
Life insurance from super funds is usually less comprehensive than that offered by insurers so there's no harm in getting both. However, if you do already have life insurance in your super, you may want to choose a smaller amount of coverage from an insurer.
Life insurance is a popular product in Australia, so you have heaps of companies to choose from.
Check out the list of Aussie providers below. We've rated them based on the features each brand offers and again on their pricing. You might find some of the lower scoring brands for features have the better pricing.
⭐️ Features are rated out of three stars. The more features offered, the higher the star rating.
*In some instances we weren't able to get pricing data. This is generally because this cover is taken out through an adviser or broker
Insurer | Feature rating | Additional features | Find out more |
---|---|---|---|
Medibank | ⭐️⭐️⭐️ |
| Get a quote |
NobleOak | ⭐️⭐️⭐️ |
| Get a quote |
AAMI | ⭐️⭐️ |
| Get a quote |
ahm | ⭐️⭐️ |
| Get a quote |
Guardian | ⭐️⭐️ |
| Get a quote |
HBF | ⭐️⭐️ |
| Learn more |
Insure Me Now | ⭐️⭐️ |
| Learn more |
Kogan | ⭐️⭐️ |
| Learn more |
Qantas | ⭐️⭐️ |
| Learn more |
Real | ⭐️⭐️ |
| Get a quote |
Suncorp | ⭐️⭐️ |
| Get a quote |
TAL | ⭐️⭐️ |
| Learn more |
Zurich | ⭐️⭐️ |
| Get a quote |
Allianz | ⭐️ |
| Learn more |
ANZ | ⭐️ |
| Learn more |
Bendigo | ⭐️ |
| Learn more |
Comminsure | ⭐️ |
| Learn more |
Insuranceline | ⭐️ |
| Get a quote |
NAB | ⭐️ |
| Learn more |
RAC | ⭐️ |
| Learn more |
RACQ | ⭐️ |
| Learn more |
Methodology - How did we make this decision?
As part of our research for the 2020 Finder Awards, we looked at 20 insurance policies and the features they offered. The features were weighted and given a score out of 10, which we then converted into a star score out of 3.
The features were weighted as follows:
You can buy life insurance whenever you like, but there are a few life stages that often prompt people to get cover, such as the following:
So you're already well on your way to buying life insurance, but there are a few things you should always check before signing on the dotted line.
📌 What's covered and what's excluded
📌 How much cover you currently have through your super
📌 What personal information you'll need to give the insurer
📌 How your premiums may change over time
📌 What the waiting periods are
📌 How you make a claim
📌 How the claims process works
📌 Customer reviews for the insurer
Did you know? Finder surveyed 5,050 Aussies and found 19% already had income protection insurance while a further 13% plan on getting it.
Lots of different factors influence the cost of life insurance. That's why it's so important to get a personalised quote before deciding whether it's right for you.
Factor | Impact |
---|---|
Age | Younger people will pay less for life insurance |
Biological sex | In general, women pay less for life insurance but more for income protection |
Profession | People with riskier jobs will pay more for life insurance |
Smoking | Non-smokers will enjoy cheaper life insurance premiums |
Overall health | People without pre-existing medical conditions may pay less |
Cover amount | The higher the potential benefit, the higher the monthly premiums |
There's an easy way to figure out whether life insurance is right for you.
If you answer YES to any of these questions, you should seriously consider life insurance:
If you answer NO to any of these questions, you should seriously consider life insurance:
Did you know? Savings are scarce. A Finder survey revealed the average Aussie has just $28,186 in cash savings.
That's a tough question. You have to take lots of different factors into consideration when deciding how much life insurance you should get, such as the following:
We know, it's a lot. So we created a calculator to help you figure it out. However, you should only use this as a starting point. If you want expert advice, you should speak to an adviser.
Life insurance is there to help when things get hard. Take a look at the situations below to see which type of policy would pay out
Type | Death | Terminal illness | Permanent disability | Illness | Injury |
---|---|---|---|---|---|
Life insurance/death | Yes | Varies between brands | No | No | No |
Trauma | No | Yes | Yes | Yes | Limited conditions |
TPD | No | No | Yes | Limited conditions | Limited conditions |
Income protection | Varies between brands | Yes | Yes | Yes | Yes |
Personal accident | Varies between brands | No | Limited conditions | No | Yes |
Funeral | Yes | Varies between brands | No | No | No |
Did you know? Most people can get life insurance. In a Finder survey of 5,050 Aussies, only 2% had been refused cover by a life insurer.
Buying life insurance is a big decision, so we understand you want to take your time and get it right. Luckily, we've got heaps of guides that can help.
Need more information on life insurance? Start with the very basics with our beginner's guide to life insurance.
Have any lingering questions about insurance premiums? You can check our guide on the different payment structures you can have. Find out if stepped or level premiums are the way to go.
If you're wondering what the tax implications of life insurance are, check out our guide which explains when life insurance premiums are tax deductible and when payments are tax-free.
Of course, if there's anything we've missed, don't hesitate to give us a shout. Drop us a comment below and we'll do our best to clear things up for you.
Looking for affordable life insurance? Or maybe you need some tips on how to save? Our guide on cheap life insurance can help you save on your premiums.
Are you trying to find the best life insurance for your needs? We looked at Australian life insurance providers to help make the decision easier.
If you're approaching retirement and wondering about life insurance for the first time, check out our life insurance for seniors page. It has tailored information for over 65s and advice on the things to pay particular attention to.
There is no set limit to the amount of life insurance policies you can have. Many people mix and match policies to create cover that works better for them.
Yes. Some life insurance policies will have an expiry age. However, the specific age varies between different insurers and types of life insurance. Always check the product disclosure statement (PDS).
A life insurance beneficiary is the person, or people, you choose to receive the financial benefit of your policy after you die.
Yes! 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 sign up to any life insurance because not doing so could impact your ability to claim later.
Child life insurance is a feature you can add to your own life insurance policy. It will pay out a financial benefit if your child dies or suffers a serious medical condition.
No. Life insurance will only pay out if you suffer a serious medical condition or if you die. In some cases, it will pay out if you are made redundant.
Yes. Life insurance can be cancelled at any time. Keep in mind if you cancel your insurance and decide to take it out later, you will likely have a higher premium due to your age or any medical conditions that have come about in the meantime.
Icons made by DinosoftLabs, Freepik from www.flaticon.com
Nicola Middlemiss is a senior writer at Finder, focusing on all things insurance. She's been a journalist for over five years and has contributed to a wide range of industry publications including Insurance Business, MoneyMag, the Educator, Your Investment Property, Mortgage Professional Australia, and Wealth Professional. She has written over a thousand articles covering the insurance industry and now uses that insight to help Australian consumers understand their own insurance policies, and make smarter decisions. Nicola has a Tier 1 General Insurance (General Advice) certification and a Bachelor's degree from the University of Leeds.
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Basically, I am looking for a 300,000 life insurance policy that is ten a year term policy that is I can find one and one that I can afford (it may require me getting two policies but I would like to do one if I could).
My issue is that I do not have a doctor that I have seen in the past 10 years or so. So, I don’t have any current or regular medical records to give to a life insurance company up front which is I understand what most of them want. I am willing to let them do a medical exam if they want one.
Do you know of any companies that might offer this as an option for me under my circumstances?
Thank you for your help and time.
Hi Tenna,
Thanks for getting in touch with Finder.
While it is true that most insurers will look for your medical history, there are still companies that are willing to provide cover even if you don’t have the necessary documents.
If you are looking to get life insurance cover in place quickly and are in good shape with no pre-existing medical conditions, you may be eligible for cover that requires very little if any medical underwriting. Many direct online insurers will now have a short questionnaire for applicants and if the entry-level requirements are met, cover can generally be put in place without the need for further documentation.
You can use our comparison table to compare no medical life insurance cover. Once you have chosen a particular insurer, please press the “Get Quote” button to request for quotation. Before applying, please ensure that you read through the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. You can also contact the provider if you have specific questions.
I hope this helps. Should you have further questions, please don’t hesitate to reach out again.
Have a wonderful day!
Cheers,
Joshua
Hello
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.
Thanks
Hi Anne,
Thanks for reaching out.
The insurance companies listed on this page (https://www.finder.com.au/life-insurance/senior-life-insurance) 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.
Cheers,
Liezl
Can i get life insurance if im unemployed
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,
Zubair