How to Compare Life Insurance in Australia: Choosing the right provider for you

If you’ve decided to buy direct Life Insurance for the first time, it may be a good idea to do some research before deciding which provider to choose. Or if you currently hold Life Insurance then it might pay to do some research, to assess whether your current provider is still the right one for you.

One of the quickest ways to start your research is to visit a Life insurance comparison site which compares a variety of direct life insurers so you can decide which suits based on your personal circumstances.

This can be a good first step to help you compare rates before you start making decisions on a provider. You’ll also be able to get a good idea of the features and benefits of a basic versus premium policy to assess value for money.

Some of the more popular life insurance comparison sites (which also include NobleOak Life Insurance in their consideration set) are included below.

According to NobleOak’s recent Life Insurance Pulse Report*, conducted with over 1,000 Australians, there has been an increase in consumers perusing web sources to compare life insurance products, increasing from 50% in 2020 to 64% in 2023. Close to half (47%) said they would use a comparison website to compare life insurance products before purchasing.

Just a note of caution – if you are considering replacing an existing life insurance policy, you should consider your circumstances, including continuing existing cover until any replacement policy is issued and cover confirmed.

Finder

Finder enables users to quickly navigate through the site and compare different Life Insurance features. If you’re planning to get a ​Life Insurance policy​, this is one of the key comparison sites in Australia.

Finder can help you explore your options to strike a balance between cost and what is covered.

You’ll find a table with different life insurers on the site, and you can sort the list according to the maximum entry age and policy type. Click the get quote buttons and fill in the forms and get your indicative quotes in minutes.

Canstar

Canstar which is another key comparison site can provide you with a comparison of quotes based on you entering some of your details.  When you get to the website, you can input your age, gender, and smoker status. After you click Compare, you’ll see a list of selected Life Insurance companies based on their star rating for your three inputs and you can then choose which ones you want to get a quote from by clicking through to their site.

You can also arrange the results based on the insurer’s Canstar star rating, sum insured amount etc or you can filter your search and look for a provider if you already have identified one you think may be right for you.

For each insurer included in the site, there’s a link leading directly to the insurers official site where you can get a quote.

Mozo

Mozo provides a wide range of helpful details about many types of insurance including life, car and home.

This site’s comparison tool includes some Life Insurance providers. You can click on any of them on the home page.

MoneySmart

Money Smart is an Australian government site which provides useful information on a lot of different topics, including life insurance, to help you manage your money. When you are choosing a life insurer, looking for a track record in both retaining customers and paying claims are some key factors you should consider in your consideration criteria. Money Smart provides helpful information about life insurance more generally and it also provides claims and retention statistical comparisons across direct life insurers in the industry.

Visit the MoneySmart website here. 

Want to know more about how NobleOak Life Insurance compares?

To find out more about NobleOak’s products, awards and service ratings, please visit our how we compare page. You’ll also find out how we are different from advised life insurers, insurance through super funds and other direct life insurers.

Disclaimer: This is general information only and does not take into consideration your individual circumstances, objectives, financial situation, or needs.

Please do not use this information as a substitute for getting a proper quote and deeper assessment of your choices.

The websites and tools mentioned provide general information only. Please ensure you read and understand the terms and conditions for each site.