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Life insurance companies in Australia

Compare 25+ life insurance companies in Australia — see our top picks and check out prices to find the right brand.

Top life insurance companies in Australia: 2022 finalists

Top pick:
NobleOak Life Insurance
Finder Award
  • $25 million sum insured
  • 1st place in Finder Awards: 8.45 final score
  • Fully underwritten policy
  • Cheapest average policy price
Top pick:
TAL Accelerated Protection Life Insurance
Finder AwardBonus
  • Pays up to $5 million in TPD
  • 2nd place in Finder Awards
  • Interim accident cover
  • $25,000 funeral advancement
Top pick:
RAC Life Insurance
  • Pays up to $25 million
  • 3rd place in Finder Awards
  • TPD and trauma options
  • $15,000 funeral advancement

Compare life insurance brands and prices

To give you an idea of how much life insurance costs, we requested quotes from 12 different insurers using the profile of a 40-year old, non-smoking accountant with 100K annual income, has no pre-existing medical conditions and is seeking $500,000 life insurance.

The pricing in the table is the premium amount per month.

BrandFemale quoteMale quoteFind out more
NobleOak logo$20.58$26.80Get quote
medibank logo$26.44$31.54Get quote
Zurich logo$37.72$47.60More info
ahm logo$25.90$30.92Get quote
RAC Life Insurance Logo$25.52$33.22Get quote
TAL logo$23.44$28.57Get quote
HCF Life Insurance Logo$41.70$47.45More info
Budget direct logo$20.58$26.80More info
Allianz logo$36.89$47.71More info
AAMI logo$53.01$66.50More info
Insuranceline logo$53.01$66.50More info
Suncorp logo$53.01$66.50More info

*These average quotes were taken in October 2023 and are subject to change.

What's the difference between a life insurance company and a brand?

  • Companies. These are the ones who create the policy and assess the risk of the applicant,
  • Brands. This is who distributes and sell the policies to customers online or through advisers.

Note: A company can also be a brand, e.g. TAL also sells under its own brand TAL.

Compare life insurance policies side-by-side

1 - 6 of 13
Name Product Maximum Cover Maximum Entry Age Terminal Illness Benefit Claims Acceptance Rate Average Claim Time Sum Insured
NobleOak Life Insurance
1.1 months
$24,483 million
Our verdict: Finder Life Insurance Award winner for the last 5 years in a row. Good value for money, simple application process and a high claims acceptance rate.

⭐ Current offer: Get one month free for a limited time - apply by 21 December 2023. Offer T&Cs on insurer website apply.
TAL Accelerated Protection Life Insurance
No set limit
Not stated
Data not available
1 months
$249,285 million
Our verdict: One of Australia's leading life insurers. Automatically includes child critical illness cover. Plus, it comes with a level premium option (e.g. costs remain similar as you get older).

⭐ Current offer: 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. Offer T&Cs on insurer website apply.
Medibank Life Insurance
Data not available
Data not available
Data not available
Our verdict: Medibank offers a higher payout limit ($2.5 million) than 15 other providers. Get a 10% discount if you're already a Medibank Health Insurance member.
ahm Life Insurance
Data not available
Data not available
Data not available
Our verdict: ahm offers a simple application process. You can be approved online or over the phone. There are no medical or blood tests required.
RAC Life Insurance
1.1 months
$24,483 million
Our verdict: RAC’s maximum death cover limit of $25 million is one of the highest limits you’ll find, including $5 million in TPD insurance. You can get an online quote, but you’ll need to call RAC to get trauma cover. Benefit from added peace of mind with fully underwritten insurance.

Real Family Life Cover
2.4 months
$53,238 million
Our verdict: The application is simple; it can be done with 1 phone call and there are no medical exams. But households with larger debts may need more than a $1 million payout.

⭐ Current offer: Get back 10% of the premiums you’ve paid after 1 year.

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 companies list – Australia

There are currently 24 listed life insurance companies in Australia, according to the latest Australian Prudential Authority (APRA) (Updated 12 January 2023).

  • AIA Australia Limited
  • Allianz Australia Life Insurance Limited
  • Challenger Life Company Limited
  • ClearView Life Assurance Limited
  • Combined Life Insurance Company of Australia Ltd
  • General Reinsurance Life Australia Ltd
  • Hallmark Life Insurance Company Ltd
  • Hannover Life Re of Australasia Ltd
  • HCF Life Insurance Company Pty Limited
  • Integrity Life Australia Limited
  • MetLife Insurance Limited
  • MLC Limited
  • Munich Reinsurance Company of Australasia Limited
  • Pacific Life Re (Australia) Pty Limited
  • QInsure Limited
  • Resolution Life Australasia Limited
  • RGA Reinsurance Company of Australia Limited
  • RLNM Limited
  • SCOR Global Life Australia Pty Limited
  • St Andrew's Life Insurance Pty Ltd
  • Swiss Re Life & Health Australia Limited
  • TAL Life Insurance Services Limited
  • TAL Life Limited
  • Zurich Australia Limited

APRA also currently lists 10 registered 'Friendly Societies' that it regulates (Updated 18 May 2023).

  • Centuria Life Limited
  • Foresters Financial Limited
  • Futurity Investment Group Limited
  • Generation Life Limited
  • IOOF Ltd
  • KeyInvest Ltd
  • Lifeplan Australia Friendly Society Limited
  • NobleOak Life Limited
  • Over Fifty Guardian Friendly Society Limited
  • Sureplan Friendly Society Ltd

Search our A-Z list of life insurers

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

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