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Best life insurance Australia

To help you find the best life insurance policy for your needs, our insurance specialists selected policies based on price, claims data and value for money.

Top pick:
NobleOak Life Insurance
Finder Award
  • Comparatively low claims processing time
  • Choose up to $25 million in cover
  • 2023 Finder Award winner
Top pick:
30-50yr olds
TAL Accelerated Protection Life Insurance
Finder Award
  • Cheapest policy on average
  • No set limit for maximum cover - only provider on the market to offer this
  • 2023 Finder Awards - Highly commended
Top pick:
RAC Life Insurance
  • Comparatively low claims processing time
  • Choose up to $25 million in cover
  • Access RAC benefits and discounts
Top pick:
Claims experience
Zurich Ezicover Life Insurance
  • Competitvely priced policies
  • No fuss application process
  • Market leading 998% claims acceptance rate
Gary Ross Hunter
Expert picks selected by Gary Ross Hunter – insurance and innovations editor at Finder

Top pick for value: NobleOak life insurance

Best Life Insurance
  • 93.2% of claims paid out in the latest period (life insurance bought directly through an insurer). That's higher than the industry average of 91.1%.
  • You can get up to $25 million in cover which is more than the industry average.
  • Above-average claims processing time of 1.1 months. The industry average is 2.8 months.
  • Only offers stepped premiums (increase as you age).
  • Out of 190+ quotes, TAL was typically cheaper on average.
  • NobleOak has a $25 million life insurance cap. TAL has no cap.
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Top pick for 30–50s: TAL life insurance

TAL Accelerated Protection Life Insurance

  • Zurich and NobleOak also offer cheap cover. They were a few dollars more expensive in our 2023 Finder Awards research.
  • Lower-than-average claims acceptance rate of 96.3%. The average is 97.7% (for life insurers bought through a financial advisor).
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Top pick for features: RAC life insurance

RAC Life Insurance
  • Get up to $25 million in cover. The average is $1 million.
  • Add up to $5 million for total and permanent disability cover. Out of the 10 insurers we researched, that's double the average.
  • Access RAC benefits – discounts on shopping, accommodation and money off fuel.
  • It's competitively priced, the third cheapest life insurance policy, according to our Finder Awards. However, TAL and NobleOak tend to be slightly cheaper.
  • Only offers stepped premiums (these increase as you age).
  • It has a $25 million benefit cap. TAL has no cap.
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Top pick for claims experience: Zurich Ezicover life insurance

Zurich Ezicover Life Insurance
  • 98% claims acceptance rate (policies sold through a financial advisor) – that's higher than any other life insurance in Australia.
  • Consistently one of the cheapest life insurance policies, according to our 2023 research.
  • Simple application process, plus a calculator that can help you estimate how much life insurance you might need.
  • No optional add-ons such as total permanent disability or trauma cover.
  • Unlike some insurers, it doesn't ask for any medical tests before or after your application. This sounds convenient but it can mean some exclusions are added to your policy.
  • It may refuse to cover you for certain conditions, including health issues.
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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).
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Get help finding the best life insurance

Our insurance experts have analysed popular life insurance policies to help you find the best life insurance policy for you and your loved ones. Our picks are based on 2023 Finder Awards, customer reviews and Australian Prudential Regulation Authority (APRA) data, an independent statutory authority that supervises various institutions including insurance. Keep in mind, what's best for you might not be best for someone else. You can use our top picks as a starting point, but you should find the best cover for your specific needs.

Why you can trust our research

10 life insurance policies analysed

190+ prices gathered

80+ hours of research

Tips on finding the best life insurance

"Work out the cover benefits you need and be clear on what you're looking for. Do you want a significant lump sum payout to make sure your family's looked after if you die or suffer a terminal illness? Is it important your policy comes with a funeral benefit that pays out quickly? Knowing these answers before you dive into your research can help to narrow down the search."

"Pick the right cover amount by working out how much your family would need to get by – and maintain their lifestyle – if you were no longer around. Knowing how much life insurance you need means you'll avoid paying more than you should."

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.

Life insurance glossary: Key terms to know

A rundown of the tricky definitions for life insurance. Plus, what to look for when you're comparing.

Why you can trust Finder's life insurance experts


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.

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.

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.

Frequently asked questions

More guides on Finder

  • Do I need life insurance?

    Learn about the different types of life insurance available in Australia, and when you might need to take out cover.

  • Is life insurance worth it?

    Having the right life insurance policy is invaluable if something happens to you unexpectedly. Find out what makes your policy worthwhile.

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