Australia’s best life insurance unveiled for 2020

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When we’re young we tend to live life on a whim. But as we get older, get married, have kids, grow careers and more, we come to the realisation that life insurance could be an important part of having a sound financial plan. After all, nobody knows what tomorrow holds. 

The fact is, life insurance can be confusing, and it’s hard to know what you really need. So, it’s important to research and compare the plans that are out there; what they include, how much you’ll pay, and ultimately find one that is aligned with your individual needs. 

For the second year in a row, Mozo money experts took to the stage, sifted through the nitty gritty of 25 different providers of life insurance to find Australia’s best value and quality direct life insurance for 2020. 

“Our research showed there were vast differences between features and policies, as well as incredible price variations of up to 50% between similar policies on the market,” said Mozo Experts Choice Awards judge, Peter Marshall.

“Many people wrongly think with products like insurance that the most expensive option is going to have the best cover, but our analysis proves how wrong this assumption is. The results really highlight why it is so important for people to compare their options thoroughly before signing up for any policy choice.” 

NobleOak crowned ‘Life Insurer of the Year’ for the second consecutive year. 

For the 2nd year in a row, NobleOak scooped the top life insurance gong, winning more awards than any other insurer across both the Exceptional Value and Exceptional Quality categories. 

“NobleOak outshone its competitors by taking out awards in every category we assessed,” said Marshall.

“And what’s even more impressive is that the same policy took out awards for value for money and exceptional quality. We usually find that products that are tailored more towards higher quality cover don’t make the budget-friendly cut, but NobleOak has proved that it's possible to have both.”     

As one of Australia’s longest standing life insurers, NobleOak is backed by leading global reinsurers, Hannover Life Re, for extra security.  

Other outstanding performers in 2020

Aside from regular life insurance policies, Mozo Experts also compared the value and quality of other important life insurance categories like; TPD insurance (Total and Permanent Disability), Trauma Insurance, and Income protection. These insurance products all came bundled with general life insurance, giving Aussies the option to find a policy that is tailored to their needs, together with the certainty of standard life cover.

Other insurers also in the spotlight in 2020 and awarded Mozo Experts Choice Awards are  Insure Me NowNIBAAMIGIOSuncorp and Virgin Money.

Head on over to the 2020 Mozo Experts Choice Awards Life Insurance winners’ list. If you want to learn more about how our Experts decided on the winners, check out the details in the methodology report or see the full winners list head over to our 2020 Mozo Experts Choice Awards Life Insurance page.

Mozo Experts Choice Winning Insurance 2020

Promoted

NobleOak Life Insurance
  • Comprehensive cover up to $15,000,000 + Funeral Advance Benefit of $15,000

  • Process claims within 5 business days on average

  • 94.4% client satisfaction rating

With more than 140 years experience up their sleeve in the insurance game, NobleOak have been crowned Life Insurer of the Year for 2020. The provider cleaned up at the 2020 Mozo Experts Choice Life Insurance Awards, taking home seven wins and appearing in every single award category that was assessed.

Life insurance pros, NobleOak, are known for their extensive policy coverage and features which come at an affordable price. You can start your cover aged between 16 and 69, with guaranteed renewal up to 99 on up to $15 million in coverage (with higher levels of cover considered on request).

Promoted

Insure Me Now Life Insurance
  • Apply for up to $1,500,000 Life Cover with fast online application

  • No medicals or blood tests required

  • Add optional Total & Permanent Disability and Trauma Insurance

Aussie-based, Insure Me Now, focus on providing life insurance policies which are easy to comprehend and affordable for every budget. In the 2020 Mozo Expert Choice Awards, they took out three wins for their top value offering.

Great policy benefits include; a lump sum payment of between $100,000 to $1.5 million paid to your beneficiary, plus a $10,000 funeral advance out of that amount to cover immediate costs so your loved ones don’t have to face any financial stress.

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