- Comparatively low claims processing time
- Choose up to $25 million in cover
- 2023 Finder Award winner
Our insurance experts have analysed 10 popular life insurance policies to help you find the best life insurance policy for you and your loved ones. Our picks are based on 2023 Finder Awards and Australian Prudential Regulation Authority (APRA) data, an independent statutory authority that supervises various institutions including insurance. Keep in mind, what's best for you might not be best for someone else. You can use our top picks as a starting point, but you should find the best cover for your specific needs.
Why you can trust our research
life insurers analysed
hours of research
Want options? We've got you. The table below shows the 3 highest-scoring life insurance brands (out of 10) overall in the 2023 Finder Award for Best Life Insurance.
In addition to our best life insurance picks, Finder's editor for insurance James Martin has reviewed life insurance policies in July 2023 and selected a policy that he believes is good value and worth considering.
What we like about TAL life insurance: TAL is the only brand on Finder who doesn't specify a maximum payout for death cover. This could give you more flexibility if, say, you've taken on a hefty mortgage and your regular bills are on the rise. Adding a high amount of cover will cost you more, but in return you could get valuable peace of mind for your family if they were suddenly a wage down.
Be clear on what you're looking for. Do you want a significant lump sum payout to make sure your family's looked after if you die or suffer a terminal illness? Is it important your policy comes with a funeral benefit that pays out quickly? Are you aware that taking out joint cover with your partner could unlock a premium discount of up to 10%?
Use Finder's comparison tool to compare life insurance brands. View each policy's key features side by side and filter by the features that matter most to you. Or click "View details" to see a more in-depth breakdown of each policy. If you're not certain what you need or how to find the best cover, speak to a life insurance adviser.
You'll need to be upfront if you smoke or have any pre-existing conditions. Not being accurate during your application can invalidate your policy. This means you or your beneficiaries could have a future claim rejected.
The PDS (found on the insurer's website) contains the key points about your policy including its benefits, restrictions and exclusions. Knowing exactly what you're insured for will bring peace of mind. Thankfully, insurers are getting better at writing them without all the jargon.
You pay the same price as buying directly from the life insurer.
We're not owned by an insurer (unlike other comparison sites).
We don't ask for your phone or email.
We've done 100+ hours of policy research to help you understand what you're comparing.
Life insurance is a big decision, but we've got heaps of guides that can help you find good cover for your needs.
A rundown of the tricky definitions for life insurance. Plus, what to look for when you're comparing.
Learn about the different types of life insurance available in Australia, and when you might need to take out cover.
Having the right life insurance policy is invaluable if something happens to you unexpectedly. Find out what makes your policy worthwhile.
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