HELP CENTER (We're open Mon-Fri 9am-7:30pm) 1300 904 624

Life Insurance Comparison: What Does it All Mean?

Are you interested in buying a life insurance policy? This is a big decision in your life. While there is nothing better than peace of mind, you could make a mistake along the way if you don’t choose the right insurer and policy for your needs.

The way that you go about comparing life insurance is your decision. Some people know exactly what they are doing. Others need more assistance to ensure that they make the right choices. No matter what, you need to learn as much as possible about the life insurance industry including what type of policy is best for you.

Your Life Insurance Options

Generally speaking, term life insurance is the principal way to insure one’s life in Australia. Some people choose to self-insure by keeping a savings account instead, but this will not typically provide the same amount of cover as a life insurance policy.

With term life insurance, you are buying coverage for a particular period of time. Once this time period expires, you no longer have coverage. At this point, you can either go without life insurance or arrange a new policy. The main benefit of term life insurance is its affordability.

How much coverage do you need?

Once you know what type of life insurance you are looking for, it is time to search for the right amount of coverage. This is based on many factors including how much money you want to spend as well as your personal financial situation.

The more coverage you opt for, the more money you will typically spend on premium payments. There is no “right or wrong” answer when attempting to determine how much coverage you need. Some people base this on a multiple of their salary. Others simply buy as much as they can, based on their budget.

The Cost of Life Insurance

Wouldn’t it be nice if life insurance coverage was free? Unfortunately, this is not how the industry works. Instead, your premium will be based on factors including: type of policy, amount of coverage, your age, your health, and the company you are buying from.

With so many variables, it is essential that you compare life insurance providers and policies. This will help to ensure that you are buying a policy that gives you the necessary protection at a fair price.

Many consumers overlook the importance of the life insurance comparison process. If you are going to buy a policy, you might as well make the most of the situation. You are going to spend a your money on your coverage, so you owe it to yourself to get a deal that you are going to be happy with.

Now that you know more about comparing life insurance policies, you can make a final decision on which type of coverage is best for you.

Here’s How You Do It:

Step 1: Select your lifestage below.
Step 2: Once you answer a few questions, you will have the opportunity to compare quotes from up to 10 of Australia’s largest insurers. You may also be entitled to a free consultation.'s online quote comparison tool makes it easy to get quotes from 10 Australia's biggest life insurers