Some of the best life insurance policies on Canstar in 2023
If you’re looking to take out life insurance you might want to check out some of the highest-rated policies on Canstar’s database, based on our annual Direct Life Insurance Star Ratings and Awards.
Life has its ups and downs so it might be a good idea to consider getting some financial protection for you and your loved ones in case something unexpected happens.
Term life insurance is what we usually mean when we talk about life insurance. It can provide a lump sum payment to your beneficiary if you die or are diagnosed with a terminal illness, to provide for your dependents when you are no longer around.
Depending on what stage of life you’re at, you might be considering taking out life insurance, including term life insurance, trauma insurance cover, or total and permanent disability (TPD) cover.
How can I find the best-value life insurance?
Finding the right life insurance policy for you should be more than just looking for the cheapest premiums. There are several features and benefits you may want to consider in a policy that suits your needs and circumstances.
Policies generally vary in terms of how much cover you need for term life cover (also called death cover), income protection cover, trauma cover (for critical illnesses and injuries) and total and permanent disability cover (TPD).
Canstar’s Life Insurance Star Ratings and Award research can help you if you’re comparing your options when you shop around.
Compare Life Insurance with Canstar
If you’re comparing life insurance policies, the comparison table below displays some of the policies currently available on Canstar’s database for a 30-39-year-old non-smoking male working in a professional occupation. Please note the table is sorted by Star Rating (highest to lowest) followed by provider name (alphabetical) and features links direct to the providers’ websites. Consider the Product Disclosure Statement (PDS) and Target Market Determination (TMD), before making a purchase decision. Contact the product issuer directly for a copy of the PDS and TMD. Use Canstar’s life insurance comparison selector to view a wider range of policies. Canstar may earn a fee for referrals.
Direct Life Insurance policies displayed above that are not “Sponsored or Promoted” are sorted by Star Rating and then alphabetically by company. Canstar may receive a fee for referral of leads from these products. See How We Get Paid for further information. If you decide to apply for Life insurance, you will deal directly with an insurance provider, and not with Canstar.
Consider the provider’s detailed product and pricing information before making a decision to purchase a policy. The products displayed on this page do not include all providers and may not compare all features relevant to you.
Cover image source: Denis Moskvinov/Shutterstock.com
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This article was reviewed by our Editor-in-Chief Nina Tovey before it was updated, as part of our fact-checking process.
Michael is an award-winning journalist with more than three decades of experience. As a senior finance journalist at Canstar, Michael's written more than 100 articles covering superannuation, savings, wealth, life insurance and home loans. His work's been referenced by a number of other finance publications, including Yahoo Finance and The Motley Fool.
Michael's worked as a reporter and producer for the BBC and ABC, including for Australian Story. He's also worked as a feature writer for The Courier-Mail and as a science and technology editor and commissioning editor at The Conversation.
Michael's professional awards include a Queensland Media Award and a highly commended in the Walkleys. In 2021 he was part of a team that was a finalist in the Australian Museum Eureka Prize for Science Journalism. He holds a Bachelor of Science in mathematics and applied physics (Manchester Metropolitan University) and a Masters of Science in pure mathematics (Liverpool University).
You can connect with Michael on LinkedIn.
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Consider the PDS & TMD via rac.com.au/life
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