Best Life Insurance in Australia 2025 | Covermate Life

Choosing the best life insurance in Australia isn’t about one brand being right for everyone. The best policy for you depends on your age, health, family situation, debts, and financial goals.

At Covermate Life, we’re an independent life insurance broker. We provide general advice only, which means we help you compare life insurance options from Australia’s leading insurers, but we don’t recommend one specific product for your personal circumstances.

What Makes a Life Insurance Policy the Best?

When Australians ask about the “best” life insurance in 2025, they usually mean:

• Strong claims record – how often does the insurer pay out?

• Policy flexibility – can you adjust cover as your needs change?

• Affordable premiums – is it competitively priced for your age and health?

• Optional extras – like TPD (Total & Permanent Disability), Trauma Cover, or Income Protection.

• Ease of application – simple process, clear disclosures, and good customer service.

Leading Life Insurance Companies in Australia 2025

Here are some of the insurers most Australians consider in 2025:

• TAL Life Insurance – One of the largest insurers, covering millions of Australians. Known for flexible policies and strong claims history.

• AIA Australia – Offers rewards programs (like AIA Vitality) alongside life insurance cover.

• Zurich Life Insurance – Internationally backed with a long history in Australia.

• MLC Life Insurance – Strong local presence and well-regarded for policy features.

• BT Life Insurance – Popular for those holding life insurance through superannuation.

• ClearView Life Insurance – Specialist insurer offering tailored cover options.

• OnePath Life Insurance – Another major player with competitive policies.

Each of these insurers offers different features, premiums, and benefits. The “best” one depends on your circumstances.

Trends in Life Insurance for 2025

Some trends shaping the life insurance market this year include:

• Rising premiums – costs continue to increase with age and inflation.

• Health and lifestyle underwriting – insurers may adjust pricing for smoking, BMI, or health history.

• Focus on digital applications – more policies can be applied for online.

• Bundling of covers – life cover with TPD, trauma, or income protection is becoming more common.

How to Choose the Best Life Insurance for You

1. Assess your needs – consider debts, income, dependants, and lifestyle.

2. Compare multiple insurers – don’t just take the first offer.

3. Understand the fine print – exclusions, waiting periods, and definitions matter.

4. Review regularly – life insurance should change as your life changes.

At Covermate Life, we can help you compare life insurance policies across multiple providers so you can choose the one that suits your stage of life.

FAQ – Best Life Insurance in Australia 2025

Which life insurance company has the best claim payout rate in Australia?

Most major insurers have high payout rates, often above 90%. The best insurer for claims depends on your policy type and personal situation.

Is life insurance cheaper in superannuation?

It can be, but cover inside super is often limited. Many Australians top up their superannuation life insurance with a standalone policy.

What is the most popular life insurance in Australia in 2025?

TAL and AIA are among the largest providers, but popularity doesn’t always mean the best fit for your needs.

How do I find the best life insurance policy for me?

Work with a broker like Covermate Life to compare options. We provide general advice only, helping you understand what’s available.