
TAL Accelerated Protection Life Insurance
- No death benefit limit*
- Cheapest brand on average**
- More than 60% of claims were paid out within 2 weeks
*As long as it’s “financially justifiable”
**According to Finder research
TAL Accelerated Protection Life Insurance
Cheap life insurance can still be high quality. Take your time to compare benefits, request quotes, and find the policy that best fits your individual needs and budget.
TAL is definitely worth looking into. It's affordable, with industry-leading benefits and most claims are settled very quickly.
NobleOak is great for those who are looking for a great value life insurance policy. It offers a higher maximum cover limit than some other providers, has a brilliant claims acceptance rate as well as a faster claim payout time, yet it remains one of the cheaper brands on the market.
Budget Direct is underwritten by NobleOak so a lot of the same benefits apply in terms of pricing, claims acceptance and processing time. It's another great option for those who want a cheaper option that still offers comparatively strong cover.
Life insurance pays out a lump-sum when you die. But, most policies offer extra benefits that you might not know about. Some common benefits include:
You can also choose to add additional types of cover to your life insurance, including:
Compare policies
The best way to save money on your life insurance is to compare different policies, taking both price and benefits into account. Our cost research showed some life insurance brands were twice the price of others, even though the expensive policy wasn't as strong as the cheap one.
Lower your insured amount
Reducing the potential pay-out your family would receive is the fastest and easiest way to lower premiums. Figure out the minimum amount your family would need to live comfortably if you died, and work from there.
Adopt healthy habits
Your life insurance premium takes your lifestyle and behaviours into account when determining your premiums. If you're a smoker, you'll pay more. If you adopt healthy habits, you could pay less. Some insurers have health and wellness programs which offer rewards for healthy living.
"I cancelled the life insurance inside my super because it eating into my retirement savings, it would have expired when I turned 65 and the premiums were going up every year. I found it was much better value to get a standalone life insurance policy by choosing level premiums and the payout amount myself."
Find out why people switch life insurance policies and how to find the right cover.
If you can't afford to pay your life insurance premiums there are still options available to keep your cover alive.
A joint policy might be suitable for couples who both have similar life insurance needs.
Finder explains the cause of life insurance premium increases in Australia.
While it's possible to have multiple life insurance policies, can you receive payment from more than one if you claim? Read on to find out.
Find out what determines the price of life insurance and what you can expect to pay each week to be covered.