Online Life Insurance Quotes

Life insurance is an important part of financial planning, and it’s something that everyone should consider. The good news is that there are several options available. Compare policies with Life Insurance Direct to find a policy suited to your requirements.

Published January 25, 2024

Compare, Save and Buy Life Insurance

Or call us on:

1300 135 205

Get instant life insurance quotes

Our software provides you with instant life insurance quotes and allows you to evaluate your options side-by-side, helping you choose the right policy. It’s an obligation-free way of getting quotes online based on your personal requirements. No medical or blood tests are required for you to apply, and you can easily add TPD, Trauma and Income Protection Insurance to your quote.

How to compare life insurance quotes online

To compare life insurance quotes, firstly ensure you have selected the level of cover you require including the payment frequency, premium type and if you would like the policy funded by your super fund, bank account or credit card. The Features tab provides you with a detailed breakdown of what is and is not covered so you can easily compare how life insurance companies rate against each other.

Here are some of the steps you’ll need to take when comparing quotes:

  1. Start with the Basics: Fill out the convenient quote form at the top of this page. It’s quick and easy, so you can get started right away.
  2. Provide Your Information: We’ll need some basic details from you to tailor the quotes specifically to your circumstances. This includes your state of residence, and whether or not you’re a smoker.
  3. Customize Your Coverage: Choose the type of cover you’d like. Options include Life Insurance, TPD Insurance, Income Protection or Trauma Insurance.
  4. Determine Your Cover Amount: Decide how much coverage you require. This step is crucial to ensure you have the right level of protection for yourself and your loved ones. Take your time to consider all relevant factors.
  5. Occupation Matters: Enter your occupation details. This information helps us match you with insurers who understand your professional circumstances.
  6. Let’s Compare: Click the “Compare Quotes” button. We’ll gather and analyze quotes from multiple reputable life insurance companies, so you don’t have to.
  7. Get Your Personalized Quote: Fill in your remaining details, and a customized life insurance quote will be generated for you. We’ll provide you with a complete breakdown, including all the necessary information to help you make an informed decision.

Benefits of using Life Insurance Direct comparison software

Life insurance provides you and your family with financial security in the event of your death or diagnosis of a terminal illness. However, if it is unaffordable or does not provide you with the cover you require, then you might be wasting your money. Therefore, carefully review features and policy information beneath each company, so you to make a fully informed decision that gives you and your family peace of mind.

Whether you are a guru in insurance or looking for life insurance for the first time, our easy-to-use software can visibly demonstrate the price and select feature differences between policies and companies.

No medical exams needed

In general, you won’t have to undergo a medical exam or blood tests when applying for a policy. However, each company’s application questions (underwriting process) is different and might provide you with a different outcome.

Retail policies: When you purchase a policy through Life Insurance Direct, the underwriting process will be more extensive. With every extra question asked, your risk to the insurer will be further refined and will generally lead to cheaper premiums and competitive coverage.

Direct policies: Buying a policy directly from the insurer usually entails a fast and easy application process (fewer questions) with limited to no underwriting. While very convenient, according to the ASIC 498 report, you’ll generally have a 71% higher chance of being declined and pay 50% to 100% more for your premiums.

Whether you decide to buy through Life Insurance Direct, a Broker or directly via a Bank, you must comply with your duty to take care not to misrepresent.

Take note: You may need a medical exam if you have a pre-existing medical condition, for example, diabetes or cancer, and the insurer requests updated results on your condition. Another reason you might need to complete a medical exam is if you want to be insured for a larger sum amount, usually above $2.5 million.

5 factors to consider when comparing life insurance quotes in Australia

Policy comparisons make the most sense when you know what you’re looking for. The more similar the policies you’re comparing, the more accurate and useful your results will be. You want to be comparing apples to apples, not oranges to apples.

Your first step should always be to assess your life insurance needs. For example, how many years of coverage do you want, what special features are you looking for, and what can you afford?

To help you answer these questions, we’ve listed the 5 primary factors you need to consider before comparing policies:

1. Cover type and amount

While Australia only offers term life insurance, there are a variety of cover types to choose from. Ask yourself what exactly you want your personal insurance protection to do for you.

For example, do you want your policy to cover your funeral expenses and provide for your dependents should you pass away or do you want a policy that will take care of your financial needs should you be unable to work for a long period or become permanently disabled?

To calculate the amount of coverage you need, consider your requirements and financial obligations: Financial dependents (spouse and/or children or elderly parents, household expenses, mortgage, outstanding debt, income replacement, medical costs, and home modifications.

The type of cover you choose will affect the type of protection you receive and the premiums you pay. The options available to you generally include:

We make it easy for you to compare policies online with our powerful comparison engine.

Buy with confidence today for peace of mind tomorrow.

2. Premium type

There are usually 3 types of life insurance premiums:

  1. Stepped premiums: Ideal for short-term affordability. They start cheaper but increase each year as you get older.
  2. Level premiums: Ideal for long-term affordability. They start more expensive but do not increase due to a change in your
  3. Hybrid premiums: A combination of stepped and level premiums. They start off as stepped, but converts to level style premiums once the stepped premiums are more than the level premium amount.

3. Built-in benefits

Some benefits come standard. However, the same benefits are not found in every life insurance policy. It’s also important that you know that while certain built-in benefits might come standard with one provider, they may be an additional cost option with another provider. Common built-in benefits include:

4. Optional paid features

There are generally paid for optional extras you can add to enhance and tailor your policy to fit your specific requirements. Features will generally differ between insurers, but the most common additional cost options include:

If you find that a policy that has the features and benefits you want it might be a wise purchase, even though it could be more expensive.

5. Exclusions

Although the precise wording used by insurers might differ, in general, a standard exclusion refers to standard events, conditions or circumstances that won’t be covered by your policy. For example, most insurers will not pay a benefit if death was as a result of suicide within the first 13 months of your policy being accepted.

Carefully read through your policy disclosure statement (PDS) to know when you won’t be able to claim on.

It’s important that you comply with your duty of disclosure when applying for a policy. If you try to avoid an exclusion by failing to inform the insurer of your medical conditions, the insurer might be within their rights to decline a future claim or void your policy.

Where can I find cheap life insurance online quotes?

To receive affordable life insurance quotes online, simply complete a quote request form and you’ll be able to instantly compare policies side-by-side. The premium you’ll pay is based on a variety of factors, including your age, gender, smoking status, medical history and level of cover. However, life insurance policies are generally the cheapest when you’re still young and healthy.

Policy premiums are generally made up of 3 elements:

  1. The base premium.
  2. The policy fee.
  3. Any applicable stamp duty.

Generally, stamp duty is not applied for life insurance policies and may only be applied to other cover types, such as Income Protection.

To find the cheapest life insurance look for:

Save on your life insurance premium

Our comparison tool offers you fast, hassle-free quotes chock full of valuable information. If you want to make the right policy choice and compare life insurance quotes in Australia or want your existing policy reviewed, complete the quote form above or contact us on 1300 135 205.

Frequently Asked Questions and Answers

  • How do I get an instant life insurance quote online?

    To get an instant quote, generally, you just need to fill out the form with your details, including gender, age, and coverage preferences. Our software typically compares policies side-by-side, giving you a tailored quote without the need for medical exams for the application.
  • What should I consider when comparing life insurance quotes online?

    When comparing quotes, you should typically focus on cover type, amount, and premium type. Look at the Features tab for a detailed breakdown of inclusions and exclusions. It’s crucial to match the policy with your personal and financial needs for an accurate comparison.
  • What are the benefits of using Life Insurance Direct’s comparison software?

    Our software simplifies the process of comparing life insurance by highlighting price and feature differences between policies. It’s designed for both insurance experts and first-timers, ensuring you can make an informed decision without undergoing medical exams for most applications.
  • What factors should I consider when comparing life insurance quotes?

    Consider cover type and amount, premium type, built-in benefits, optional paid features, and exclusions. Ensure the policies you compare align closely with your needs for a meaningful comparison. Assess your life insurance needs thoroughly before starting.
  • Where can I find affordable life insurance quotes online?

    For affordable quotes complete our quote request form. Premiums typically depend on factors like age, health, and lifestyle. Young, healthy individuals usually get lower rates. Look for policies offering annual payment discounts or healthy lifestyle incentives for additional savings.

Get an instant Life Insurance quote

Or call us on:

1300 135 205

Other topics

Ask an Expert?

12 Comments