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Top life insurance companies in Australia: 2022 finalists
Top pick: Winner
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: Finalist
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: Finalist
RAC Life Insurance
Bonus
Pays up to $25 million
3rd place in Finder Awards
TPD and trauma options
$15,000 funeral advancement
We created an algorithm that rates policies based on more than 10 different factors. These included price, benefits, claims outcomes and extra features. Using 16 different customer profiles, we received quotes from 10 different insurance brands and looked at 161 quotes. We then applied our algorithm to those 161 quotes to come up with an overall score for each brand. You can find more top picks and read more about our methodology here.
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.
*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
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).
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.
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.
While there is no single best life insurance company for everyone. We recently scored several policies based on price, features and add-ons. The companies that stood out include TAL, NobleOak and AIA.
According to the latest Australian Prudential Authority data, there are currently 27 listed life insurance companies in Australia.
The 6 main types of life insurance in Australia are death cover, income protection, trauma cover, TPD cover, funeral insurance and accidental injury/death.
Gary Ross Hunter is an editor at Finder, specialising in insurance. He’s been writing about life, travel, home, car, pet and health insurance for over 6 years and regularly appears as an insurance expert in publications including The Sydney Morning Herald, news.com.au, The Telegraph, Explore Travel and Escape. Gary holds a Kaplan Tier 1 General Insurance (General Advice) certification and a Kaplan Tier 1 Generic Knowledge certification which meets the requirements of ASIC Regulatory Guide 146 (RG146).
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Important information about this website
finder.com.au is one of Australia's leading comparison websites. We are committed to our readers and stands by our editorial principles
We try to take an open and transparent approach and provide a broad-based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.
Some product issuers may provide products or offer services through multiple brands, associated companies or different labeling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.
We make money by featuring products on our site. Compensation received from the providers featured on our site can influence which products we write about as well as where and how products appear on our page, but the order or placement of these products does not influence our assessment or opinions of them, nor is it an endorsement or recommendation for them.
Products marked as 'Top Pick', 'Promoted' or 'Advertisement' are prominently displayed either as a result of a commercial advertising arrangement or to highlight a particular product, provider or feature. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. We encourage you to use the tools and information we provide to compare your options.
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When products are grouped in a table or list, the order in which they are initially sorted may be influenced by a range of factors including price, fees and discounts; commercial partnerships; product features; and brand popularity. We provide tools so you can sort and filter these lists to highlight features that matter to you.
Please note that the information published on our site should not be construed as personal advice and does not consider your personal needs and circumstances. While our site will provide you with factual information and general advice to help you make better decisions, it isn't a substitute for professional advice. You should consider whether the products or services featured on our site are appropriate for your needs. If you're unsure about anything, seek professional advice before you apply for any product or commit to any plan and read any disclosure documents (such as any Target Market Determination (TMD) and/or Product Disclosure Statement (PDS)) issued by the provider before making a decision.
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