Best life insurance in Australia October 2026

Best Overall

Finder Award

TAL Accelerated Protection Life Insurance

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2026 Finder Award winner

Best Customer Satisfaction

Medibank Life Insurance

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2025 Finder Customer Satisfaction Award

Best Claims Experience

NobleOak Life Insurance

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High claims acceptance rate

The best life insurance for you will depend on your budget and personal circumstances. Our experts have chosen a bunch of picks that will suit a range of people, but these should only be used as a guide. You should always read the product disclosure statement (PDS) to know if a product is a good fit for you.

Best life insurance

• Best overall life insurance: TAL Accelerated Protection Life Insurance
• Best for claims experience: NobleOak Life Insurance
• Best for customer satisfaction: Medibank Life Insurance

How we calculate Life Insurance Finder Scores

Read full methodology

What different scores mean

9+

Excellent

These products offer great value, with a good score across both features and price.

7+

Great

These are competitive products, though they didn't quite get top scores.

5+

Standard

These products might offer less value or command a higher premium than others in the market.

0+

Basic

These products might only offer a basic set of features or aren't very competitive on price.

Best overall life insurance

Finder score 9.9 Excellent TAL Accelerated Protection Life Insurance Finder Award

Finder score 9.9 Excellent

Maximum Cover No set limit

Funeral Benefit $25,000

Optional TPD Cover $3 million (maximum cover)

Optional Trauma Cover Yes

Discount: 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. T&Cs apply.

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Why we like it TAL won our 2026 Finder Award for best life insurance because it strikes the best all-round balance with comprehensive cover and high benefit limits, at one of the lowest average prices online. It’s the only insurer we compared with no set maximum cover limit, so it can scale with your needs, and more than 60% of its claims are paid within two weeks. Pros & cons Pros 2026 Finder Award winner No set maximum cover limit Generous $25,000 funeral advancement benefit Cons Claims acceptance rate of 87.6% is below the industry average

Best for claims experience

Finder score 9.5 Excellent NobleOak Life Insurance

Finder score 9.5 Excellent

Maximum Cover $25 million

Funeral Benefit $25,000

Optional TPD Cover $5 million (maximum cover)

Optional Trauma Cover Yes

Discount: Get 1 month free with NobleOak Life Insurance. Offer ends 2 Nov 2026. T&Cs apply.

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Why we like it NobleOak is our pick for claims because the numbers are genuinely standout. It has a 96.90% claims acceptance rate, well above the 91.1% industry average. The insurer also pays claims in an average of 1.9 months versus the 2.7-month industry average. It also has far fewer disputes than the industry norm. Pros & cons Pros 2026 Finder Highly Commended Award winner Excellent 98.8% claims acceptance rate, above the industry average High maximum cover limit of $25 million Cons Only offers stepped premiums, which rise as you age

Best for customer satisfaction

Finder score 9 Excellent Medibank Life Insurance

Finder score 9 Excellent

Maximum Cover $2.5 million

Funeral Benefit $15,000

Optional TPD Cover $1.5 million (maximum cover)

Optional Trauma Cover Yes

Discount: Get a 10% discount if you're already a Medibank Health Insurance member. T&Cs apply.

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Why we like it Medibank is our pick for customer satisfaction because it consistently rates highly among customers. The insurer took home four 2026 Finder Customer Satisfaction Awards, scoring strongly for value, most trusted, customer service and most recommended. Existing Medibank health members also get a discount, a bonus if you’re already with them. Pros & cons Pros Multiple 2026 Finder Customer Satisfaction Award winner Backed by one of Australia's most recognised health and insurance brands 10% ongoing discount for existing Medibank health members Cons Only offers stepped premiums, which increase as you age

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Top life insurance brands for customer satisfaction in 2026

We surveyed thousands of Australians about their life insurance experience to find the brands that stood out for value, trust, service and more — these are the winners.

Brand	Customer satisfaction award	Score
	Medibank won Top Value, Most Trusted, Legendary Service and Most Recommended	4.14–4.18
	AAMI won Most Loved - Direct	4.17
	Allianz was recognised as a Loved Brand and for Value, Quality Service and being Recommended	N/A
	HCF was recognised as a Trusted Brand and for Quality Service	N/A

What are the different types of life insurance?

"Life insurance" is often used as an universal term, but there are a few different types of cover, and many people hold more than one:

• Life (death) cover pays a lump sum to your family if you pass away or are diagnosed with a terminal illness.
• Total and permanent disability (TPD) cover pays out if illness or injury leaves you permanently unable to work.
• Trauma cover pays a lump sum if you're diagnosed with a serious illness like cancer or a heart attack.
• Income protection replaces part of your income if you can't work due to illness or injury.

Top life insurance companies in Australia

Based on our latest analysis, these are four of the strongest life insurance companies in Australia right now, each with a different strength:

• TAL Accelerated Protection Life Insurance was best overall. The insurer offers strong cover and industry-leading benefits at one of the lowest average prices, with no set maximum cover limit.
• NobleOak Life Insurance, best for claims. NobleOak boasted a 98.8% claims acceptance rate and faster-than-average payouts.
• Medibank, highly rated for customer satisfaction. Medibank was a recipient of 4 2026 Finder Customer Satisfaction Awards. It was top-rated by surveyed customers for value, most trusted, customer service and most recommended.
• Budget Direct, highly commended for value. Budget Direct received a Highly Commended Finder Award, as it was one of the cheapest life insurance policies available on Finder.

Just remember, the right and "best" life insurance policy for you depends on your age, health and how much cover your family would need, so it's worth gathering a few quotes before deciding.

How much does life insurance cost in Australia?

What you pay for life insurance depends on your age, health, lifestyle and how much cover you choose. As of March 2026, Australians reported paying an average of $154 a month for their life insurance.

Younger, healthier people pay less, a healthy person in their 30s might pay well under that average for a basic policy, while older applicants and smokers pay significantly more. The type of premium matters too: stepped premiums start cheaper but rise each year, while level premiums cost more upfront but stay steadier over time.

How to find the best life insurance policy

• Make a list of debts owing. Make a list and know what your loved ones would need to be financially stable in the event of your passing. This should take into account any mortgages, home loans, car loans, etc. This will let you know what the minimum amount for cover should be and this will help narrow down your search.
• Decide if you want cover for other unexpected events. This includes things like trauma cover, total and permanent disability cover and income protection. This will help you know if you should look for a policy with lots of add ons or if a simple policy will suit you just fine.
• Know the state of your health. Your life insurance premium is largely dictated by the state of your health so to understand how to best go about getting cover, it can be helpful to know what kind of health you're in. The healthier you are, the more options you have. If you've got pre-existing conditions then you might like to get life insurance via a broker or look into options via your super.
• Compare at least 3 different options. The cost of life insurance can vary hugely between providers so it's important to get at least 3 different quotes so you have a good idea of what's out there. The admin can be a bit frustrating but it can be really costly to not take the time to compare.

FAQs

• How much life insurance do I need?

  A common approach is to add up what your family would need to stay financially secure: your outstanding mortgage and debts, everyday living costs for a number of years, and any future expenses like children's education. Subtract any savings or existing cover, and the gap is a useful starting point for your cover amount.

• Is life insurance worth it in Australia?

  It's generally worth considering if other people depend on your income, a partner, children or other family. Life insurance provides a lump sum that can cover a mortgage, debts and living costs so your loved ones aren't left financially exposed. If no one relies on your income, you may need it less.

• Is it better to get life insurance through super or directly?

  This comes down to individual preference, but both have trade-offs. Cover through your super fund is often cheaper and doesn't come out of your take-home pay, but it's usually more basic, may have lower default cover, and can end at a certain age. A direct (retail) policy costs more but lets you choose your cover amount, features and premium type.

• Does life insurance cover suicide?

  Most life insurance policies exclude death by suicide in their cover if it occurs within the first 1-2 years of taking out or amending the policy.

• Can I get life insurance with a pre-existing condition?

  Often, yes, but it depends on the condition. Insurers may cover you at a standard rate, apply a higher premium, add an exclusion for the specific condition, or in some cases decline cover. If you have a pre-existing condition, it can help to apply through a broker or check what cover is available through your super fund.

• How many life insurance policies can I have?

  There's no legal limit on how many life insurance policies you can hold, and some people take out more than one. If you claim, eligible policies generally each pay out, since life cover is a set benefit rather than a reimbursement. Just make sure the total cover and combined premiums still make sense for your needs.

• Who is the best life insurance company in Australia?

  TAL life insurance won the 2026 Finder Award for Best Life Insurer because it offers thorough coverage with high benefit limits, yet remains one of the cheapest providers we researched. However, what's best for you will depend on your personal circumstances so you should always compare a few different providers to decide what's best for your needs.

• Who is the most trustworthy life insurance company?

  Finder research shows that HCF is one of the most trusted life insurance providers in Australia. On average, 97% of Australians surveyed said HCF is a trustworthy brand.

• Which insurance company is best at paying claims in Australia?

  ClearView and St Andrews both have a great claims acceptance rate for policies bought directly from the provider. However, NobleOak exceeds expectations for their service with its average payout speed of 1.9 months, compared to the industry average of 2.7 months. Here's the claims acceptance rate for those 3 brands:

  • ClearView - 100%
  • St Andrews - 100%
  • NobleOak - 98.8%

To make sure you get accurate and helpful information, this guide has been edited by Jason Loewenthal and reviewed by Karen Eley, a member of Finder's Editorial Review Board.

Written by

Peta Taylor

Publisher of Insurance

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Peta Taylor is a publisher at Finder, working across all of insurance. She's been analysing product disclosure statements and publishing articles for over 2 years. Peta is passionate about demystifying complex insurance products to help users make well educated decisions with confidence. Peta is part of Finder's insurance awards team and works alongside editorial and insights experts to bring users the best insurance products every year. See full bio

Co-written by

Ceyda Erem

Senior writer

Ceyda Erem is Finder’s senior writer for insurance and has almost 10 years of experience writing about personal finance. Formerly a copywriter for several business and finance clients, Ceyda has written hundreds of articles, guides, blogs and more to ensure Australians stay in the loop about how to best manage their money. She has a Bachelor of Arts, Majoring in Writing from Macquarie University. See full bio

Ceyda's expertise

Ceyda has written 225 Finder guides across topics including:

• Insurance