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Live, laugh, life insurance

Compare life insurance and live your best life while you're covered for the worst.

Name Finder Score Maximum Cover Funeral Benefit Optional TPD Cover Optional Trauma Cover
Medibank Life Insurance image
Finder Award
Finder score
Maximum Cover
$2.5 million
Funeral Benefit
$15,000
Optional TPD Cover
$1.5 million
(maximum cover)
Optional Trauma Cover
Get QuoteView details
Our verdict: Medibank offers a higher payout limit ($2.5 million) than 15 other providers. It also won Most Loved, Best Value and Legendary Service categories in the Finder 2024 customer

⭐ Current offer: Save 10% on your first year of Medibank Life Insurance when you apply by 10 December 2024. T&Cs apply.
TAL Accelerated Protection Life Insurance image
Finder Award
Finder score
Maximum Cover
No set limit
Funeral Benefit
$25,000
Optional TPD Cover
$3 million
(maximum cover)
Optional Trauma Cover
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.
ahm Life Insurance image
Finder score
Maximum Cover
$1.5 million
Funeral Benefit
$15,000
Optional TPD Cover
$1 million
(maximum cover)
Optional Trauma Cover
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.

⭐ Current offer:Get 10% off your first year of ahm life insurance when you apply by 10 Dec 2024. T&Cs apply.
Real Family Life Cover image
Finder score
Maximum Cover
$1 million
Funeral Benefit
$10,000
Optional TPD Cover
$1 million
(maximum cover)
Optional Trauma Cover
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
Maximum Cover
$1.5 million
Funeral Benefit
$15,000
Optional TPD Cover
Optional Trauma Cover
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.
AAMI Life Insurance image
Finder score
Maximum Cover
$1.5 million
Funeral Benefit
$10,000
Optional TPD Cover
Optional Trauma Cover
Get QuoteView details
Our verdict: There’s flexibility with AAMI as you can add another adult to your cover, with a competitive limit of $1.5 million. Easy application process with no medical exams.

⭐ Current offer: Save up to 10% on premiums every year for the life of the policy on AAMI Life Insurance. Offer ends 2 December 2024. T&Cs apply.
Suncorp Life Insurance image
Finder score
Maximum Cover
$1.5 million
Funeral Benefit
$10,000
Optional TPD Cover
Optional Trauma Cover
Get QuoteView details
Our verdict: Competitive maximum cover limit of $1.5 million. Suncorp lets you change your cover amount by up to $100,000 after a big life event, such as having a baby.

⭐ Current offer: Save up to 10% on premiums every year for the life of the policy on Suncorp Life Insurance. Offer ends 2 December 2024. T&Cs apply.
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Why compare Life Insurance with Finder?

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Features obsessed

We gathered 170 quotes and analysed 10+ policies.

Living it! Objectively rated

One simple score out of 10 makes it easy to choose.

Thousands of people compare with Finder every month

4.69 average rating from 805 reviews

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How much does life insurance cost?

The average cost of a life insurance policy is $1,258 annually, according to Finder research of 11 providers.

The cost of your life insurance premium will depend on the following:

  • Your age
  • Your health and any pre-existing conditions
  • Your lifestyle choices, for example, if you're a smoker or if you exercise regularly
  • The level of cover you choose
  • How many optional extras you do or don't add on
  • The cost of life insurance is highly dependent on personal factors so your own annual premium is likely to be different to our average cost. This information should be used as a guide only.

    How much are Australians spending on life insurance?

    Every month, we ask a bunch of Aussies what they're paying for their life insurance. Here's what their bill looked like in October 2024.

    $163

    Price based on 130+ responses about their monthly premium in October 2024.

    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's headshot

    "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."

    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

    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.

    FAQs

    Why you can trust Finder's life insurance experts

    helpBoring, but easy - we get it, getting life insurance probably isn't on your bucket list. We can't promise to make life insurance fun, but we sure do try make it simple. That's why we've spent 100+ hours of research on this guide.
    freeFeatures obsessed - No one wants a junk policy, that's why we analysed the features of 10+ policies, and gathered 170 quotes to objectively score life insurance products. We've turned this into a simple rating out of 10.
    independentNo BS - You won't get any annoying calls, because we don't have a call centre. We're not owned by an insurer and pride ourselves on listening to real human experiences for all our research.

    What is the Finder Score?

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

    Our experts analysed 11 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 that Finder Score is just one factor to consider. Look at other aspects like fees, features, benefits and risks to make sure a product is suitable for you. Double-check details that matter to you before applying or buying.

    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.

      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

    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 659 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 225 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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