Top Life Insurance Companies in Australia (2025)

Choosing the right life insurance can feel overwhelming. With so many providers and products on the market, how do you know which company is best for you?

At Covermate Life, we’re a general advice life insurance broker based in Sydney. That means we work with Australia’s top insurers and compare policies so you don’t have to. We don’t push one brand — instead, we help you understand your options so you can make the right choice for your needs and budget.

Here’s our 2025 snapshot of the leading life insurance companies in Australia.

1. AIA Australia

• Strengths: Comprehensive cover options, including Life Cover, Income Protection, and Trauma Insurance.

• Unique Benefit: AIA Vitality rewards program offers discounts and health benefits.

• Why it’s popular: Strong focus on wellbeing and preventative health.

2. Zurich

• Strengths: Flexible policies, international reputation, and strong claims record.

• Unique Benefit: Known for customisable TPD and Trauma cover.

• Why it’s popular: A trusted global brand with a long history in insurance.

3. TAL

• Strengths: One of Australia’s largest life insurers, covering millions of Australians.

• Unique Benefit: Wide product range and affordable entry-level cover.

• Why it’s popular: Big market share and competitive premiums.

4. MLC Life Insurance

• Strengths: Longstanding brand with diverse cover options.

• Unique Benefit: Member rewards program for policyholders.

• Why it’s popular: Strong support network and established reputation.

5. ClearView

• Strengths: Australian-focused provider offering straightforward policies.

• Unique Benefit: Flexible cover options and competitive pricing.

• Why it’s popular: Customer-focused with good value policies.

6. OnePath

• Strengths: Comprehensive life insurance and income protection.

• Unique Benefit: Strong financial backing (part of Zurich group).

• Why it’s popular: Trusted by brokers for flexible cover solutions.

How a Broker Helps You Choose

While it’s useful to know who the top life insurance companies in Australia are, the best insurer for you depends on your personal circumstances.

That’s where a broker like Covermate Life can help:

• We compare policies from multiple insurers.

• We explain features and exclusions in plain English.

• We provide general advice only, so you can choose with confidence.

• We assist with policy reviews and claims support.

FAQs About Life Insurance in Australia (2025)

Q: Is one insurer always cheaper than the rest?A: Not necessarily. Premiums vary based on age, health, occupation, and lifestyle. That’s why comparing is so important.

Q: Do brokers add to the cost?A: No. Insurers pay brokers commissions, but this doesn’t increase your premiums.

Q: Which insurer has the best claims record?A: Most leading insurers have strong claims statistics. A broker can show you recent figures to help with transparency.

Q: Should I just go with the biggest insurer?A: Bigger doesn’t always mean better. The right policy depends on your unique needs.

General Advice Disclaimer

Covermate Life provides general advice only. This means we do not consider your personal objectives, financial situation, or needs. Always read the Product Disclosure Statement (PDS) before making a decision.

Call to Action

Looking for the best life insurance in Australia in 2025? Speak to Covermate Life today. We’ll compare leading providers — AIA, Zurich, TAL, MLC, ClearView, and OnePath — so you can protect your future with confidence.