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Live, laugh, life insurance

We've helped more than 150,000 Australians. Compare life insurance and live your best life while you're covered for the worst.

Life Insurance
Name Finder Score Funeral Benefit Optional TPD Cover Optional Trauma Cover Maximum Cover
TAL Accelerated Protection Life Insurance image
Finder Award
Finder score
9.8
Funeral Benefit
$25,000
Optional TPD Cover
$3 million
(maximum cover)
Optional Trauma Cover
Maximum Cover
No set limit
Get QuoteView details
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 image
Finder score
8.6
Funeral Benefit
$15,000
Optional TPD Cover
$1.5 million
(maximum cover)
Optional Trauma Cover
Maximum Cover
$2.5 million
Get QuoteView details
Our verdict: Medibank offers a higher payout limit ($2.5 million) than 15 other providers. Plus there’s a quick and easy online application process that doesn’t require medical appointments or blood tests.
NobleOak Life Insurance image
Finder Award
Finder score
9.7
Funeral Benefit
$15,000
Optional TPD Cover
$5 million
(maximum cover)
Optional Trauma Cover
Maximum Cover
$25 million
Get QuoteView details
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.
ahm Life Insurance image
Finder score
8.2
Funeral Benefit
$15,000
Optional TPD Cover
$1 million
(maximum cover)
Optional Trauma Cover
Maximum Cover
$1.5 million
Get QuoteView details
Our verdict: ahm offers a simple application process. Be approved online or over the phone. No medical or blood tests needed to apply.
Real Family Life Cover image
Finder score
N/A
Funeral Benefit
$10,000
Optional TPD Cover
$1 million
(maximum cover)
Optional Trauma Cover
Maximum Cover
$1 million
Get QuoteView details
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.
Zurich Ezicover Life Insurance image
Finder score
N/A
Funeral Benefit
$15,000
Optional TPD Cover
Optional Trauma Cover
Maximum Cover
$1.5 million
Get QuoteView details
Our verdict: Good if you want a cheap policy from a well-regarded insurer – its 98% claims acceptance rate is higher than any other provider on Finder. Zurich keeps things simple: unlike others, it doesn’t go in for optional add-ons such as TPD or trauma cover.

⭐ Current offer: Policy discounts include 10% off for your partner if you sign up for a joint policy. You can also get 5% off income protection if you buy it alongside your life cover.
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The lowdown on Finder Score

Life Insurance is a little complicated and a lot overwhelming. That's why we made Finder Score, to make it easier to compare Life Insurance products against each other.

Our experts analysed over 30 products and gave each one a score between 1 and 10. The scores are based on 13 features, including price.

  • 9+ Excellent - These products offer great value, with a good score across both features and price.
  • 7+ Great - These are competitive products, though they didn't quite get top scores.
  • 5+ Satisfactory - These products might offer less value or command a higher premium than others in the market.
  • Less than 5 – Basic - These products might only offer a basic set of features or aren't very competitive on price.

Remember, everyone's needs are different, so a lower scoring policy might still be the right choice for you. Finder Score isn't meant to be the final word, but we think it's a great place to start your life insurance comparison journey.

To be eligible for a Finder Score, providers must provide us with quotes. We use the average price across 12 personas. The personas we collect quotes and use for the purpose of Finder Score are:

    The Finder Score methodology is designed by our insights team and reviewed by our editorial team. We review the products objectively. Commercial partnerships do not affect the score.

    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.

    We put every effort into ensuring information on Finder is accurate. This article was reviewed by Karen Eley from our Editorial Review Board as part of our fact checking process.

    What is life insurance?

    Life insurance pays a lump sum of money when you die or become terminally ill.

    You can select how much you want to receive. Options typically range from $100,000 to $25 million.

    The money is paid out to the people you nominate as the beneficiaries when you take out a policy. This means, if you die, your loved ones will still be able to afford mortgage payments, ongoing bills and other living expenses.

    How much does life insurance cost?

    A $500,000 life insurance policy costs an average of $35 per month for non-smoking 30- and 40-year-olds, according to our 2023 Finder Awards research.

    To get this price, we gathered 40 quotes from 13 brands including TAL, NobleOak and Zurich for 30- and 40-year-olds (20 males and 20 females) applying for a life insurance policy. The payout selected was $500,000. They had no pre-existing conditions and did not smoke.

    Actual quotes will vary depending on your personal circumstances. The cost of life insurance depends on your age, health, occupation and the benefit amount you select – for example, a $500,000 policy will cost less than a $1 million life insurance policy.

    Other types of life insurance

    TPD insurance

    Total and permanent disability (TPD)

    TPD covers you if you get severely injured or sick. For example, if you become blind or paralysed after a car accident and become permanently disabled.
    Typical cover range: $50,000 to $5 million.

    Trauma insurance

    Trauma insurance

    Trauma cover, sometimes called critical illness cover, is a policy add-on that pays a lump sum if you're diagnosed with a major medical condition, such as cancer or a heart attack.
    Typical cover range: $500,000 to $2 million.

    Income protection

    Income protection

    Income protection insurance pays a monthly benefit if you're unable to work due to illness or injury. Usually, it will only pay up to 70% or 75% of your typical wage for a period of 2 or 5 years.

    Alex Holderness

    I've never really thought about my life insurance, but after having a baby and buying a house in the same year I felt now was the time I needed to take out cover. Having a policy that would cover my mortgage payments is one less thing I now need to worry about.
    — Alex Holderness, Finder's head of publishing, parent and homeowner

    Learn more about life insurance

    Our life insurance guides can help you compare and understand what cover option is right for you.

    Life Insurance Box 1

    What is life insurance?
    Discover the ins and outs of life insurance, from how it works to why it's so important for many families.

    Expert tips on comparing life insurance

    Speak to a life insurance broker

    Why you can trust Finder's life insurance experts

    freeYou pay nothing. Finder is free to use. And you pay the same as going direct. No markups, no hidden fees.
    expert adviceYou save time. We spend 100s of hours researching life insurance so you can sort the gold from the junk faster.
    independentYou can trust us. We say it like it is. We aren't owned by an insurer and our opinions are our own.

    Frequently asked questions

    Karen Eley is the founder of Women Talking Finance, which provides money coaching and financial literacy and education services. An experienced and former financial adviser who has worked in financial services industry for 22 years, Karen is a Certified Money Coach (CMC), holds a Bachelor of Accounting and an Advanced Diploma in Financial Planning and CFP.

    Jason Loewenthal's headshot
    Karen Eley's headshot
    To make sure you get accurate and helpful information, this guide has been edited by Jason Loewenthal and reviewed by Karen Eley, a member of Finder's Editorial Review Board.
    Gary Ross Hunter's headshot
    Editor, Insurance & Innovations

    Gary Ross Hunter was 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, The Guardian and news.com.au. Gary holds a Kaplan Tier 2 General Advice General Insurance certification which meets the requirements of ASIC Regulatory Guide 146 (RG146). See full bio

    Gary Ross's expertise
    Gary Ross has written 718 Finder guides across topics including:
    • Health, home, life, car, pet and travel insurance
    • Managing the cost of living
    James Martin's headshot
    Co-written by

    Editor

    James Martin was the insurance editor at Finder. He has written on a range of insurance and finance topics for over 7 years. James often shares his insurance expertise as a media spokesperson and has appeared on Prime 7 News, WIN News, Insurance News, 7NEWS and The Guardian. He holds a Tier 1 General Insurance (General Advice) certification and a Tier 1 Generic Knowledge certification, both of which meet the requirements of ASIC Regulatory Guide 146 (RG146). See full bio

    James's expertise
    James has written 253 Finder guides across topics including:
    • Car, home, life, health, travel and pet insurance
    • Managing the cost of living
    • Money-saving tips

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