Best Life Insurance Australia

It's no fun to think about, but even less fun if you don't. We analysed 11 life insurers – here's the best ones.

Peta Taylor's headshot
Gary Ross Hunter's headshot

By

Peta Taylor

&

Gary Ross Hunter

Edited by

Jason Loewenthal

Reviewed by

Karen Eley

Updated

Fact checked

Key takeaways

  • TAL often offers the cheapest policies on average with no set limit on maximum cover.
  • Medibank scored highly for customer satisfaction, with 91% of surveyed Australians finding them trustworthy.
  • NobleOak boasts a 98.8% claims acceptance rate and faster payouts than the industry average.

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

Finder Score Maximum Cover Funeral Benefit Optional TPD Cover Optional Trauma Cover

Best life insurance

TAL Accelerated Life Insurance logo
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
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 the 2026 Finder Award winner for best life insurance provider. It's a great value policy; includes decent coverage with high benefit limits, yet remains one of the cheapest policies we could get online quotes for. And there is no set limit for the maximum cover available - it's the only insurer to do this.

Pros

  • Generous funeral benefit of $25,000

Cons

  • Below-average claims acceptance rate of 87.6%
  • Total and permanent disability cover limited to $3 million

Best for customer satisfaction

Medibank Life Insurance logo
Finder score
9.3 Excellent
Medibank Life Insurance
Finder score
9.3 Excellent
Maximum Cover
$2.5 million
Funeral Benefit
$15,000
Optional TPD Cover
$1.5 million
(maximum cover)
Optional Trauma Cover
Yes
Discount: Get your first 2 months free when you apply and get cover by 03 Aug 2026, using promo code MB2MF. T&Cs apply.
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Why we like it

Medibank won the 2025 Finder Customer Satisfaction award. That's because it scored highly in areas of customer satisfaction, ease of application, value for money and features & benefits. 91% of Medibank customers surveyed said Medibank is a trustworthy and reliable brand.

Pros

  • Medibank health members get 10% off premiums each year

Cons

  • $2.5million max cover cap is lower than some
  • Only offers stepped premiums which increase as you age

Best claims experience

Nobleoak Life Insurance logo
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 2 months free on eligible NobleOak cover. For new customers and offer ends 14 Jun 2026. T&Cs apply.
Get Quote View details
Compare product selection

Why we like it

NobleOak has a high 98.8% claims acceptance rate. This is above the industry average of 91.1%. It has a faster claim payout time of 1.9 months — the industry average is 2.7months for policies bought directly through an insurer. NobleOak has fewer disputes than average at just 7.5 disputes per 100,000 lives insured. The industry average is 26.5 disputes per 100,000.

Pros

  • High claims acceptance rate
  • Fast claims payout time

Cons

  • Only offers stepped premiums, which increase as you age
  • TAL was a few dollars cheaper on average
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How much are Australians spending on life insurance?
Every month, we ask a bunch of Aussies what they're paying for their life insurance. Here's what their bill looked like in March 2026.

$154

Price based on 160 responses about their monthly premium in March 2026.

5 best life insurance brands for customer satisfaction in 2024

We asked 500+ Australians to rate their life insurer for customer service, value for money and more — these are the winners.

BrandOverall satisfactionTrustworthy/reliable
Medibank★★★★★ 4.2791%
AAMI★★★★★ 4.1888%
ahm logo★★★★★ 4.1694%
ANZ★★★★★ 4.1494%
Suncorp★★★★★ 4.0991%

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

Sources

Jason Loewenthal's headshot
Karen Eley's headshot
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.
Peta Taylor's headshot
Written by

Publisher of Insurance

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

Gary Ross Hunter's headshot
Co-written by

Journalist

Gary Ross Hunter has over 6 years of expertise writing about insurance, including life, health, home, and car insurance. Having reviewed hundreds of product disclosure statements and published over 800 articles, he loves simplifying complex insurance topics for everyday readers. Gary has contributed to major outlets like Yahoo Finance, The Sydney Morning Herald, and news.com.au, and holds a Bachelor of Arts (Honours) in English Literature from the University of Glasgow, along with a Tier 2 General Advice certification, ensuring his work adheres to ASIC’s RG146 standards. See full bio

Gary Ross's expertise
Gary Ross has written 572 Finder guides across topics including:
  • Health, home, life, car, pet and travel insurance
  • Managing the cost of living
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