Compare Life Insurance in Australia

Life insurance can provide a lump sum when you die, helping the people who depend on you manage debts and everyday expenses. Covermate Life helps Australians compare life cover features and request quotes from participating insurers. We provide general advice and application support.

Request a life insurance quote

 

What does life insurance cover?

Life cover, also called death cover, pays a benefit for an eligible claim under the policy. Terminal illness benefits may also apply when the policy definition is met. Check the Product Disclosure Statement (PDS), policy schedule, exclusions and cover expiry age before deciding.

 

How much life cover should you consider?

Start with the financial commitments you would want to provide for: mortgage repayments, other debts, household bills, care costs and future family expenses. Compare those commitments with savings, existing insurance and other available resources. Our life insurance calculators can help you organise an estimate; they do not provide a personal recommendation.

​For example, a household that wants to clear a $400,000 mortgage and set aside $150,000 for living costs starts with $550,000 in estimated expenses. If it has $200,000 in existing death cover, that leaves an illustrative gap of $350,000 before accounting for other savings, debts or costs. Use your own figures to estimate a gap and check what existing cover would actually pay.

 

What to compare in a life insurance quote

• Benefits and definitions: compare the insured amount, terminal illness wording, exclusions and policy end date.

• Premiums over time: look beyond the first payment. Check how age, cover increases and insurer rate changes may affect future costs.

• Policy ownership: understand who owns the policy and how benefits are paid, including any beneficiary or superannuation rules.

• Linked benefits: ask whether a TPD or trauma payment would reduce the remaining life cover.

• Application requirements: compare the final offer, including any medical loading or exclusions, rather than relying only on an initial estimate.

 

Life insurance through super or outside super

Check your super fund statement before applying for additional cover. Compare the amount insured, policy terms, eligibility and how premiums are paid. Premiums deducted from super reduce your retirement savings. Ownership and benefit-payment rules can differ between cover inside and outside super.

 

How Covermate Life helps you compare

1. Enquire: tell us which cover you want to explore.

2. Compare: review quotes and policy features from our participating insurer panel. Our comparison does not include every insurer or policy.

3. Apply: provide the information requested by the insurer, which may include health, occupation and lifestyle details.

4. Check the offer: review the confirmed premium, exclusions, benefits and commencement date before accepting.

A quote or submitted application does not confirm that insurance is active. Cover starts in accordance with the insurer’s acceptance and policy terms.

 

Life insurance FAQs

 

Can I apply with a pre-existing medical condition?

It may be possible. Insurers assess applications individually and may offer standard terms, a higher premium or exclusions, defer a decision, or decline cover. Explore our guide to life insurance with pre-existing conditions.

 

How is life cover different from TPD, trauma and income protection?

TPD insurance and trauma insurance provide lump sums for their defined insured events. Income protection provides regular benefits for eligible illness or injury claims. Each product has different definitions and conditions.

 

Should I cancel my existing insurance when applying?

Check the existing benefits, exclusions and replacement terms first. New cover may require underwriting. Confirm that any replacement is accepted and active before cancelling an existing policy.

 

Explore your life insurance options

Based in Bondi Junction, Covermate Life assists people across Australia. Request a life insurance quote or contact our team to ask about the comparison and application process.

General advice only. Our information does not take account of your objectives, financial situation or needs. Consider the relevant PDS and whether the cover is appropriate for you before deciding. Read our Financial Services Guide for service and remuneration information.

Further reading: ASIC’s Moneysmart guide to life cover.