Life Insurance Comparison Australia

Why use Life Insurance Finder® ?

Compare life insurance quotes with an expert

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:

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.

Enter your details and one of our partner brokers will call you. They will discuss your quote, options and available products.

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Level of Protection UnsureNone$100,000$200,000$300,000$400,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,250,000$1,500,000$1,750,000$2,000,000

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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Life insurance explained

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:

• Income protection insurance
• Total and permanent disability (TPD) insurance
• Trauma insurance

Get life insurance quotes

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.

What types of life insurance are there?

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.

Which types of life insurance are right for me?

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.

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.

How do I buy life insurance in Australia?

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.

• I already have life insurance in my super

  Heaps of people have some form of life insurance in their super fund but that doesn't mean it's not worth getting extra cover directly from an insurer or with the help of a broker.

  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.

Direct life insurance brands Australia

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

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:

When is the right time to buy life insurance?

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:

What to check before you buy life insurance

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 affects the cost of life insurance?

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.

Is life insurance right for me?

There's an easy way to figure out whether life insurance is right for you.

How much life insurance should I get?

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.

When will life insurance pay out?

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

Want to know more about life insurance?

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.

Some other guides you might find helpful

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.

FAQs

• How many life insurance policies can a person have?

  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.

• Can life insurance expire before you die?

  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).

• What is a life insurance beneficiary?

  A life insurance beneficiary is the person, or people, you choose to receive the financial benefit of your policy after you die.

• I have a pre-existing condition. Can I still get life insurance?

  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.

• What is child life insurance?

  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.

• Can I withdraw money from my life insurance?

  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.

• Can I cancel my life insurance?

  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.

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