Our life insurance price research in numbers
170
Total number of quotes received
16
Total number of customer profiles
15
Final number of insurers scored
Finder’s life insurance methodology – 2024
How we calculated the Finder life insurance awards.
What are the Finder life insurance awards?
Finder's life insurance awards is a ratings methodology that compares both price and features across 15 life insurance policies. We got 170+ life insurance quotes based on 16 different profiles.
We use the final scores from our insurance awards to inform the top picks on our best life insurance page. The ratings range from 0 to 10.
Finder's life insurance awards criteria
The criteria for Finder's life insurance awards was determined by our insights team and life insurance experts.
Life insurance eligibility criteria
- It must be a direct life insurance policy (e.g. no broker is needed)
- The provider must have offered the policy for 12 months or longer
- Quotes must be available online
- We must be able to get at least 16 quotes from each provider
Finder's life insurance awards methodology
1. How we calculated our price score for life insurance
To determine our life insurance award winners, we got prices across a total of 16 customer profiles varying in age, gender and smoking status:
| Age | Gender | Smoker | Occupation |
|---|---|---|---|
| 25 | Female | No | White collar worker |
| 35 | Female | No | White collar worker |
| 45 | Female | No | White collar worker |
| 55 | Female | No | White collar worker |
| 25 | Female | Yes | White collar worker |
| 35 | Female | Yes | White collar worker |
| 45 | Female | Yes | White collar worker |
| 55 | Female | Yes | White collar worker |
| 25 | Male | No | White collar worker |
| 35 | Male | No | White collar worker |
| 45 | Male | No | White collar worker |
| 55 | Male | No | White collar worker |
| 25 | Male | Yes | White collar worker |
| 35 | Male | Yes | White collar worker |
| 45 | Male | Yes | White collar worker |
| 55 | Male | Yes | White collar worker |
2. How we calculated our features score for life insurance
For the features score, we evaluated different benefits commonly covered by a life insurance policy.
Features allocated points out of 10 – for example, a policy that offers a maximum sum insured amount of $25 million received 9.23 points, a policy with a $15 million limits would get 7.69. Meanwhile, an insurer that offers $1.5 million receives 2.31.
These features were then assigned weights by our life insurance experts.
Features were scored and weighted as follows:
| Features | Weighting |
|---|---|
| Non-smoker price | 25% |
| Smoker price | 15% |
| Max. sum insured score | 9% |
| Optional TPD cover | 6% |
| Premium suspension cover | 6% |
| Policy expiry age score | 5% |
| Max. entry age score | 5% |
| Guaranteed renewability score | 4% |
| Optional child benefit cover | 3% |
| Funeral benefit | 3% |
| Future insurability score | 3% |
| Grief counselling benefit | 3% |
| Interim accident cover | 3% |
| Trauma cover | 3% |
| Terminal illness benefit | 3% |
| Min. entry age score | 2% |
| Min. sum insured score | 2% |
3. How we calculated our final scores for life insurance
Life insurance ratings weighting · dw:XupV1
To get our life insurance ratings, the final scores were weighted as follows:
Why you can trust Finder's life insurance experts
You pay nothing. Finder is free to use. And you pay the same as going direct. No markups, no hidden fees.
You save time. We spend 100s of hours researching life insurance so you can sort the gold from the junk faster.
You can trust us. We say it like it is. We aren't owned by an insurer and our opinions are our own.
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