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nib Life Insurance Review

nib Life Insurance is no longer available to new customers but there's no change if you're an existing customer.

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As of 1 April 2021, nib does not offer new life and income protection policies. You can compare other life insurance options available on finder here
Maximum covered amount$1,000,000
Age of entry18
How do I apply?Directly by contacting nib
  • Well known brand with a strong reputation in health insurance.
  • If you want to increase your cover in the future you'll need to take another health / lifestyle questionnaire
  • Backed by TAL, one of Australia's largest life insurance companies
  • Level premiums are not offered
  • No medical assessment (great if you are in good health)
  • This provider no longer offers new life and income protection policies.

This cover might be suitable if:

  • You want to save money by paying annually.
  • You are healthy and don't want to go through a medical assessment.
  • You want a popular and well known brand.

Don't get this cover if:

  • You want your premiums to stay the same for life.

What life insurance policies were available from nib?

Value Life Insurance

  • Pays a lump sum up to $1 million if you die or become terminally ill
  • Can be used to help your family pay off the mortgage, pay bills and maintain current lifestyle
  • Choose cover from $100,000 up to $1 million
  • Advance Payment on approved claims of $10,000 to cover funeral expenses and other immediate costs
  • Premiums waived for up to six months if you’re seriously incapacitated from an accident
  • Simple to apply with no medical tests required
  • Worldwide cover 24/7

Note: Be sure to check the Product Disclosure Statement (PDS) for terms and conditions.

Income protection

  • Provides a replacement income when you are unable to work due to illness or injury
  • Provides an ongoing monthly benefit of 85 per cent of your regular income (up to a maximum of $10,000 per month)
  • Save up to 30 per cent off your premiums if you’re in good health
  • Receive a benefit for up to 24 months while you recover
  • Optional extra cover for Permanent Disability
  • Basic Cover also offered for stay-at-home parents, self-employed applicants and students
  • Choice of waiting periods: 14 or 28 days
  • Pay premiums annually and receive 12 months cover for the cost of 11

Note: Be sure to check the Product Disclosure Statement (PDS) for terms and conditions.

Compare direct life insurance policies now

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.
HCF Life Protect Insurance
Data not available
Data not available
Data not available
Our verdict: Similar cover to other insurers ($1.5 million). A good discount for HCF members of 10% and an easy initial quote process.

⭐ Current offer: Eligible HCF Members receive 10% premium discount and HCF Thank You rewards.
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.

Enter your details and one of our partner brokers will call you. They will discuss your quote, options and available products. Not available to those over 75 years old.

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An adviser can help you find cover from trusted life insurance brands.

  • Get competitive quotes from multiple brands
  • Lower rate of declined claims (according to ASIC)
  • Save time and effort

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How do I make a claim for nib Insurance?

nib ’s claims process is designed to be as simple and straightforward as possible. You or your nominated beneficiary will need to phone nib to inform the provider of your wish to make a claim. You will then be sent a claim form to complete, sign and then return to the insurer.

You will also need to supply any documentation or evidence required by the insurer to support your claim. Examples of this may include:

  • A certified copy of proof of age of the life insured
  • Evidence of the date and location of any event that led to an injury or Illness.
  • Evidence from a medical practitioner about the extent of an illness or injury, for example clinical, radiological and laboratory evidence
  • Confirmation that any surgical procedures are medically necessary
  • Proof of income for the last 12 months or last financial year (for income protection claims)

Why you can trust Finder's life insurance experts


We're free

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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.

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