Online Life Insurance Quotes: Compare Policies and Find Cover That Suits You
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Get an Online Life Insurance Quote
Getting a life insurance quote online is a simple way to estimate what your cover could cost. When requesting a quote, you’ll generally be asked for a few basic details before your quote options are generated from one or more life insurance brands.
Typically, you’ll be asked to provide information such as your:
- Age
- Where you live
- Gender
- Smoking status
- Occupation
- Desired level of cover
Comparing quotes from multiple life insurance brands at the beginning of the process gives you a better understanding of the policies available and helps you identify cover that offers the right balance between cost and protection.
How to Compare Life Insurance Quotes
Comparing life insurance quotes isn’t just about finding the lowest premium. Policies can differ in the amount of cover they provide, the benefits they include and the circumstances in which a claim may be paid. Looking at these factors together can help you choose cover that provides better long-term value.
When comparing quotes, consider the following:
Compare the Same Level of Cover
To make a fair comparison, ensure each quote is based on similar cover amounts and policy options. Comparing a $500,000 policy with a $1 million policy won’t provide an accurate indication of value.
Review What’s Included
Many policies include built-in benefits at no additional cost, while others offer them as optional extras. Depending on the life insurance brand, these may include:
- Terminal illness benefit
- Future insurability benefit
- Funeral advancement benefit
- Premium pause or premium freeze options
- Financial advice reimbursement
Understanding what’s included can help you compare the overall value of each policy rather than focusing solely on the premium.
Understand Exclusions
Every life insurance policy has exclusions and conditions that outline when a claim may not be paid. These can vary between life insurance brands, so it’s worth reviewing the Product Disclosure Statement (PDS) before making a decision.
For example, many policies include a suicide exclusion during the first 13 months of cover and require applicants to answer application questions truthfully and accurately, as part of their duty to take reasonable care not to make a misrepresentation.
Compare Premium Structures
The way your premiums are calculated can have a significant impact on the long-term cost of your policy. Some policies offer variable age-stepped premiums that generally increase as you get older, while others offer variable premiums that are designed to provide greater cost certainty over time.
Choosing the right premium structure depends on how long you expect to keep your cover and your current budget.
Consider More Than Just Price
While affordability is important, the cheapest policy isn’t always the best option. It’s also worth comparing:
- The life insurance brand’s policy features
- Built-in and optional benefits
- Flexibility to increase or adjust cover
- Claims support and customer service
- Any applicable discounts or rewards
Taking the time to compare these features alongside the premium can help you choose a policy that continues to meet your requirements well into the future.
What Affects the Cost of a Life Insurance Quote?
No two life insurance quotes are exactly the same. Life insurance brands assess a range of personal and policy-related factors to estimate the likelihood of a claim and determine how much you’ll pay for cover. While each life insurance brand has its own underwriting criteria, several common factors influence the cost of a life insurance quote.
Your Age
Age is one of the biggest factors affecting your premium. In general, the younger you are when you apply, the lower your premiums may be because you’re typically considered to present a lower insurance risk.
Your Health and Medical History
Life insurance brands will usually ask questions about your current health, medical conditions, medications and family medical history. Depending on your answers, they may:
- Offer cover at standard rates
- Apply a premium loading
- Exclude certain medical conditions
- Request additional medical information before making a decision
Smoking and Vaping
People who smoke or use nicotine products generally pay higher premiums than non-smokers because of the increased health risks associated with tobacco use. Some life insurance brands also assess vaping separately, so it’s important to answer all application questions accurately.
Your Occupation
Your job can influence your premium if it involves higher-than-average risks. Occupations that require working at heights, operating heavy machinery or performing hazardous manual work may attract higher premiums than office-based roles.
Your Lifestyle and Hobbies
Certain recreational activities can also affect your quote. For example, regular participation in activities such as scuba diving, motor racing, rock climbing or aviation may increase the level of risk a life insurance brand associates with your application.
The Amount of Cover You Choose
Generally, the higher your sum insured, the higher your premium will be. Choosing an appropriate level of cover based on your financial commitments, debts and family circumstances can help balance affordability with adequate protection.
Your Premium Structure
The type of premium you select will also affect the cost of your policy. Variable age-stepped premiums typically have a lower initial cost but usually increase as you get older, while variable premiums generally cost more upfront but are designed to provide greater pricing stability over the long term.
Optional Benefits
Adding optional benefits, such as Total and Permanent Disability (TPD) Insurance, Trauma Insurance or Income Protection Insurance, can increase your premium. While these extras come at an additional cost, they may provide broader financial protection depending on your requirements and circumstances.
Types of Life Insurance Cover You Can Compare
Life insurance isn’t a single product. Depending on your requirements, you may be able to compare several different types of cover designed to protect you and your family against different financial risks. Understanding what each type of insurance covers can help you choose a policy that aligns with your circumstances.
| Type of Cover | What It May Help Cover |
|---|---|
| Life Insurance | Pays a lump sum if you pass away or are diagnosed with a terminal illness (subject to the policy terms and conditions). The payment can help your beneficiaries cover living expenses, debts, funeral costs or future financial requirements. |
| Total and Permanent Disability (TPD) Insurance | Provides a lump sum if you’re unlikely to work again due to a permanent disability or illness that meets the policy definition. Cover is assessed against a specific definition of disability. Own occupation and any occupation TPD can differ significantly in how and when a benefit is paid. The benefit can help with medical expenses, rehabilitation costs, debt repayments and ongoing living expenses. |
| Trauma Insurance | Pays a lump sum if you’re diagnosed with a specified serious illness or injury covered by the policy, such as cancer, heart attack or stroke. The payment can help cover treatment costs or support your recovery while you’re unable to work. |
| Income Protection Insurance | Replaces a portion of your income if you’re temporarily unable to work because of illness or injury. Benefits are generally paid as monthly payments for a specified benefit period after any waiting period has been served. |
The right combination of cover depends on your financial commitments, family situation and employment. For example, someone with a mortgage and young children may prioritise Life Insurance and TPD Insurance, while a self-employed person may also benefit from Income Protection Insurance to help replace lost income if they’re unable to work.
Many life insurance brands allow you to combine different types of cover under a single policy, making it easier to manage your insurance and optimise your protection to your individual requirements.
What Should You Compare Besides Price?
Price is often the first thing people notice when comparing life insurance quotes, but it shouldn’t be the only factor influencing your decision. Two policies with similar premiums can offer very different levels of protection, flexibility and value.
Here are some of the key features worth comparing.
Built-in Benefits
Many life insurance policies include additional benefits at no extra cost. Depending on the life insurance brand, these may include:
- Terminal illness benefit
- Funeral advancement benefit
- Future insurability benefit
- Financial planning reimbursement
- Counselling support for beneficiaries
Optional Benefits
Some life insurance brands allow you to tailor your policy with optional extras, such as:
- Total and Permanent Disability (TPD) Insurance
- Trauma Insurance
- Child Cover
- Business expenses or income protection options
Selecting only the benefits you need can help balance the cost of your policy with the level of protection you’re seeking.
Policy Flexibility
Life changes over time, so it’s worth considering how easy it is to adjust your cover in the future. Some policies allow you to increase your sum insured after major life events, add optional benefits or change your premium structure without taking out a new policy.
Claims Definitions
Each life insurance brand defines certain conditions differently, particularly for covers such as TPD and Trauma Insurance. Understanding these definitions can help you compare how and when benefits may be payable under each policy.
Customer Support and Claims Service
Making a claim can be a stressful experience, so it’s worth considering the level of support available throughout the claims process. Choosing an life insurance brand with a clear claims process and responsive customer service may provide greater peace of mind if you or your family ever need to make a claim.
Looking beyond the premium helps ensure you’re comparing the overall value of each policy, not simply the lowest upfront cost.
Tips for Getting Cheaper Life Insurance Quotes
While you can’t control every factor that affects your premium, there are several ways to make life insurance more affordable. Comparing your options and reviewing your cover regularly can help ensure you’re paying for the protection you need without spending more than necessary.
Compare Quotes From Multiple life insurance brands
Premiums and policy features can vary significantly between life insurance brands, even for applicants with similar circumstances. Comparing multiple quotes gives you a clearer picture of what’s available and may help you identify better value for money.
Apply While You’re Younger
In general, premiums are lower when you apply at a younger age because you’re typically considered a lower insurance risk. Taking out cover earlier may also help you secure insurance before any future health changes affect your eligibility or premium.
Choose an Appropriate Level of Cover
It’s important to have enough cover to protect your loved ones financially, but having more than you need can unnecessarily increase your premiums. Consider your outstanding debts, ongoing living expenses, future financial commitments and the requirements of your dependants when deciding on a suitable sum insured.
Consider Your Premium Structure
Choosing between variable age-stepped and variable premiums can significantly affect your current and future costs. Comparing quotes under both premium types can help you decide which option better suits your budget and long-term plans.
Review Your Cover Regularly
Your insurance requirements are likely to change over time. Reviewing your policy after major life events, such as getting married, having children, paying off a mortgage or changing jobs, can help ensure your cover remains appropriate and that you’re not paying for protection you no longer need.
Provide Accurate Information
When requesting a quote or applying for cover, it’s important to answer all questions honestly and accurately. Providing incomplete or incorrect information can lead to changes in your premium, delays during the application process or issues if a claim is made in the future.
Why Compare Life Insurance Quotes Through Life Insurance Direct?
Comparing life insurance quotes through Life Insurance Direct makes it easier to review your options in one place, helping you make a more informed decision without having to approach multiple life insurance brands individually.
By comparing policies side by side, you can assess more than just the premium. You’ll also be able to review cover amounts, policy features, built-in benefits and optional extras to find cover that aligns with your requirements and budget.
Whether you’re taking out life insurance for the first time or reviewing an existing policy, comparing quotes can help you understand what’s available and identify a policy that offers suitable protection for your circumstances.
Frequently Asked Questions and Answers
What is a life insurance quote?
A life insurance quote is an estimate of how much you’ll pay for a policy based on information such as your age, smoking status, occupation and the amount of cover you choose. Your final premium may change after the life insurance brand assesses your full application and medical information.Are online life insurance quotes accurate?
Online quotes provide a useful estimate based on the information you enter. If you decide to apply, the life insurance brand may ask additional questions about your health, lifestyle and medical history before confirming your premium and policy terms.Why do life insurance quotes vary between life insurance brands?
Each life insurance brand uses its own underwriting guidelines, pricing models and policy features when calculating premiums. As a result, two life insurance brands may offer different prices for similar levels of cover, which is why comparing quotes can be beneficial.Do I need a medical examination to get life insurance?
Not always. Many applications are approved based on the health information you provide, although some life insurance brands may request additional medical information, reports or examinations depending on your age, health or the amount of cover you’re applying for.How often should I compare life insurance quotes?
It’s worth reviewing your cover every few years or after major life events such as getting married, having children, buying a home or changing jobs. Comparing quotes periodically can help ensure your policy continues to meet your requirements and remains competitively priced.
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Good Morning
My name is Keith Sinfield, I am interested to secure something like a non maturing Life Insurance policy……..my situation is rather unique please note the following facts:
DOB: 15/06/1950
1. Place of abode – Perth Western Australia.
2. Work place – Ghana Africa West coast
3. Profession – Electrical Engineer
4. Health status – Very fit & healthy……….
5. Medication – Crestor 1/2 tablet 10mg, Diovan 80 mg
6. SPOUSE – Ulai Sinfield
7. Child – Reewadee Maddison Sinfield age 6 years
8. NON SMOKER
seeking cover $500,000
Good Morning
My name is Keith Sinfield, I am interested to secure something like a non-maturing Life Insurance policy. I am 68 years old with a wife and child. Seeking over $500,000 worth of cover.
My situation is rather unique please note the following facts:
1. Place of abode – Perth Western Australia.
2. Workplace – Ghana Africa West coast
3. Profession – Electrical Engineer
4. Health status – Very fit & healthy
Hello Keith,
Thank you for reaching out. Let me start by saying that Australia only offers term life insurance policies, meaning the policy expires at a certain age. Depending on the insurer you choose, this could be your age 99 or 100.
Then we would also need to know whether you are a fly-in fly-out (FIFO) electrical engineer working in Ghana.
Please fill in the quote form above so a specialist may assist you with your unique circumstances or give us a call on 1300 135 205. If you’re calling from outside of Australia, you can reach us on +61 (0)299 297 355
My wife and I would like Life Insurance for both of us. I am 59 and my wife is 55. We’re both non-smokers. Don’t need income protection, trauma or TPD. Direct debit payment is fine.
We want coverage for $300K each. We don’t have any heart ailment or kidney problems as far as we know.
Also note, we live overseas for most of the time now, working as consultants in India, Cambodia and on long-term contracts in Bangladesh (1 to 5 years).
I don’t want my wife to faces hassles in getting the money if I pass away.
Let me know what options I have.
Hello Mr. Khan.
Thank you for reaching out.
We would love to help you find the right life insurance cover for you and your wife. Generally, Australian expats living overseas for a period not exceeding 5 years can obtain life insurance.
However, the insurer might first need to know your clear intended date of return to Australia, as well as a few more personal details.
Give us a call on +61 299 297355, if you’re calling from overseas, and a consultant will take you through your options.
Hi,
We are looking at re-financing our current life insurance. Came across your site via “Expat Advisor”. We are both Australian expats.
Male aged 67, Female aged 49. Non-smokers, from QLD.
Living in Malaysia, and Brunei.
All quotes considered, but looking for about 300K coverage for Husband (67) and about 500K coverage for me (49).
If there is any such thing as TPD or IP for expats, would be keen to hear quotes. Our superfunds are: Unisuper (Husband), and Hostplus (me).
We aim to reside OS for a further 7 years. We have been OS for 8 years now. Thanks.
We are Australian expats living in Dubai. I would like to find out about life insurance polices we can access if living overseas.
Hi Karen
Yes, Australian expats living overseas can obtain life insurance and related products however this depends of a few variables about your planned time away from Australia and where in the world you are living, however generally living in Dubai is not a problem . If you would like to discuss your personal situation further please reach out to the team on +61 2 99297355 (we are open Monday – Friday: 8 – 6.30 AEST).
At what age does the Life Insurance expire?
Thanks for contacting us Susan and this is a great question. All the policies that we issue under Death & Terminal Illness cover expire at age 99. I must point out that this is the case for most people and rarely some people with some medical issues or high risk pastimes could have a term placed on the policy for example and they may offer the life cover for 10 or 15 years only for example. Just a reminder that we compare up to 12 x Life Insurance providers and you are welcome to contact us on 1300 135 205 so we can look at a policy for you.
Do the premiums stay the same?
Can I increase my life insurance cover over the years?
Thanks for your question Sue, Firstly we will look at your question in two parts. Your premium will depend on the structure you chose at the policy commencement date. Therefore this means you can choose stepped, level or hybrid premiums.
A Stepped Premium will be cheaper in the short term and will then increase as you get older along with any increases to your sum insured for example such as CPI, as essentially your premium is re-calculated each year and increases in premiums are reflective of the fact that as you age you pose a greater risk to the Insurer. Level Premiums are more expensive initially and are generally determined by your age at time of application and will generally stay level as you get older – until either the age of 65 or 70 and then convert to a stepped premium. However, keep in mind that level premiums can still increase with changes to product rates, stamp duty, policy fees and also if you have chosen to have CPI increases to your sum insured at each policy anniversary. Hybrid Premiums are not as common and only offered by select insurers and offer a combination of both a stepped and level premium structure. Please click on the Hybrid Premium link to read more on this option. Generally speaking, if you are looking to hold a policy for 6-7 years or longer you may want to consider a ‘level’ premium and vice-versa if you intend to hold a policy for a short period of time a ‘stepped’ premium may be more suitable.
You can increase your life insurance in the future and there are two ways this can be viewed. Most Life Insurers will offer a ‘Guaranteed Future Insurability Benefit’ which allows you to increase your level of cover without supplying additional medical information if you experience a personal event such as marriage, divorce or increasing a mortgage on a home are some examples. This is generally available only once every 12 months and proof of this event is required. If you just increase your level of cover normally you may need to submit further medical information. If your medical history has changed and the insurer has deemed their risk has increased, your premiums could be more costly outside of the increase due to the higher sum insured being applied for.
If you would like to contact us on 1300 135 205 we can provide detailed quotes with premium options and we also compare up to 12 x different Life Insurers.