Finder makes money from featured partners, but editorial opinions are our own.

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:

AgeGenderSmokerOccupation
25FemaleNoWhite collar worker
35FemaleNoWhite collar worker
45FemaleNoWhite collar worker
55FemaleNoWhite collar worker
25FemaleYesWhite collar worker
35FemaleYesWhite collar worker
45FemaleYesWhite collar worker
55FemaleYesWhite collar worker
25MaleNoWhite collar worker
35MaleNoWhite collar worker
45MaleNoWhite collar worker
55MaleNoWhite collar worker
25MaleYesWhite collar worker
35MaleYesWhite collar worker
45MaleYesWhite collar worker
55MaleYesWhite collar worker

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

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:

FeaturesWeighting
Non-smoker price25%
Smoker price15%
Max. sum insured score9%
Optional TPD cover6%
Premium suspension cover6%
Policy expiry age score5%
Max. entry age score5%
Guaranteed renewability score4%
Optional child benefit cover3%
Funeral benefit3%
Future insurability score3%
Grief counselling benefit 3%
Interim accident cover3%
Trauma cover3%
Terminal illness benefit3%
Min. entry age score2%
Min. sum insured score2%

3. How we calculated our final scores for life insurance

Why you can trust Finder's life insurance experts

free

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.
independent

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.
help

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

More guides on Finder

Go to site