Compare Life Insurance in Australia
Compare life insurance options in Australia across life cover, TPD, income protection and trauma insurance. Understand how policies differ, what impacts cost, and how to compare options side by side.
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Key Takeaways
- ✔Life insurance can start from around $25/month depending on your situation
- ✔Prices can vary by 2-3x between insurers for similar cover
- ✔Some brokers offer cashback arrangements, reducing costs by over 10%
- ✔Smokers and people in higher-risk occupations typically pay significantly more
- ✔Direct products are often more expensive than comparable advised policies
How Much Is Life Insurance in Australia?
Most life insurance policies in Australia cost between $25 and $300+ per month, depending on your age, gender, cover amount and policy type.
Cashback arrangements can reduce the costs by 12.5%. See our full cost breakdown by age and smoking status →
Compare Life Insurance Options in Australia
There are four main types of life insurance commonly used in Australia. Each type serves a different purpose depending on your financial situation.
| Cover Type | Best For | How It Pays | Typical Use | Indicative Cost |
|---|---|---|---|---|
Life CoverView details | Families, debt protection | Lump sum | Mortgage, dependants, future expenses | From ~$25/month |
TPD InsuranceView details | Long-term disability protection | Lump sum | Medical, rehab and ongoing living costs | From ~$40/month |
Income ProtectionView details | Replacing income if you are ill or injured | Monthly payments | Ongoing bills and income replacement | From ~$30/month |
Trauma CoverView details | Serious illness events | Lump sum | Treatment, recovery and time off work | Varies |
Why Compare with Keep Insurance
- ✔Compare multiple insurers side by side
- ✔See real-time quotes 24/7 without needing a phone call
- ✔Get 12.5% of premiums returned
- ✔Apply online or get support if needed
See how real customers have structured their cover in our client case studies .
What We See in Real Quotes (Australia)
- •Premiums can vary by 2-3x for the same person and cover, it's worth comparing options
- •Smoking can increase premiums significantly, often by 30-100%. But quitting can flow through to pricing
- •Income protection pricing varies significantly by occupation
- •Policy structure, such as paying from super and the premium type, can significantly impact long-term cost
Built on real pricing data from Australian insurers.
What Should You Do Next?
Work out what cover I need
→Estimate the right level of cover based on your income, debts and financial responsibilities.
Find the cheapest life insurance options
→Compare real quotes across insurers to identify lower-cost cover based on your situation.
Understand life insurance costs
→Learn what impacts pricing and why premiums can vary significantly between insurers. Explore your options on real quotes.
How to Compare Life Insurance Policies
The four main types of life insurance cover different risks:
- Life cover - supports your family financially if you pass away
- Income protection - replaces income if you can't work due to illness or injury
- TPD insurance - provides a lump sum if you're permanently unable to work
- Trauma insurance - helps cover costs during serious illness
When deciding what to cover, consider:
- Do you have dependants (partner, children, ageing parents) that rely on you financially?
- Could you manage financially if you couldn't work for an extended period?
- Do you have debts or ongoing financial commitments?
Not sure where to start? Use our life insurance needs calculator to guide you through the key considerations.
Frequently Asked Questions
How much does life insurance cost in Australia? +
Life insurance in Australia typically costs between $25 and $300+ per month, depending on your age, gender, smoking status, cover amount and policy type.
What type of life insurance do I need in Australia? +
The type of life insurance you need depends on your situation. Life cover supports dependants, income protection replaces income, TPD covers permanent disability and trauma insurance supports recovery.
Why do life insurance premiums vary so much? +
Premiums vary due to insurer pricing models, risk assessment and policy features. Prices can differ by 2-3x for similar cover.
Is it better to compare life insurance? +
Comparing life insurance helps you identify differences in pricing, features and structure across insurers, helping you choose the right policy.
What affects the cost of life insurance? +
Factors include age, gender, smoking status, occupation, cover amount, policy structure and whether there are cashbacks available.
How do cashback arrangements impact life insurance costs? +
Premium cashbacks can reduce the effective cost of cover by up to 12.5%
Compare Life Insurance Quotes
See real pricing based on your situation in seconds.