Lb Comparison

Road Tested: Lifebroker’s life insurance comparison tool put to the test

Not all life insurance policies are created equal. We enlisted independent commercial journalist Jesse Archer to take Lifebroker’s comparison tool for a spin. This is his experience.

Author Henry David Thoreau sat by a pond to contemplate happiness and came up with this answer, "Simplify, simplify, simplify." His mid-1800s life hack can still be applied today to potentially daunting and complex subjects such as choosing the right life insurance policy. With Lifebroker's comparison tool, you can get quotes in just a few clicks. It's so simple, I had results within a minute.

To start with, I simply input a few personal details. My results were a comprehensive, easy to follow snapshot of quotes from leading life insurers in Australia including AIA, Comminsure*, OnePath, TAL, AMP* and more. The comparison quotes included an overview of features, benefits and price along with exclusions on one easy to read comparison table. It’s definitely a unique tool on the market

Comparing the comparers

Since we’re comparing things, I compared Lifebroker with several other well-known comparison sites and found the others not as streamlined. They can become muddled in details, push for add-ons, or feel invasive because they want more and more personal information before providing a single quote. Lifebroker not only puts you in the driver's seat about what information you impart, it’s easier to use and offers up-front information about the insurance companies themselves. I was able to see how each one rates and, most importantly, how much each company has paid out in claims. This is exactly what a consumer wants to make a more educated and informed decision.

Build a tailor-made policy

Lifebroker provides options to compare only by price – or you can look at the details of each policy. I was also happy to find an ‘edit my cover’ function to see how changes or additions such as Total and Permanent Disability (TPD) would affect my premium. I didn’t see these helpful features on other comparison sites.

Take your time

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Lifebroker compares policies from 6 leading life insurers in Australia.

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Having control over your cover is important, as is the ability to go at your own pace. You can choose to return to the site later, phone a consultant, or email yourself the quotes to read later. Credibility and trust are also huge considerations when considering life insurance and Lifebroker goes out of its way to be transparent about how they make their money. There is peace of mind in knowing the service is well-intentioned, free, and there are no hidden fees. Using the comparison tool also does not raise the price of your premium.

Confident decision-making

Lifebroker is authorised to provide life insurance products traditionally only available through an adviser. This saves you money on adviser fees and provides you with options that are tailored to your circumstances, and all from the comfort of your own home.

Understanding insurance policies can feel complicated. Comparing them can be overwhelming, but so is the need to protect your family. That's why it's important to simplify the process and empower users with the knowledge to make the most informed decision. That's exactly what sets Lifebroker apart. The snapshot it provides helped me gain the confidence to make the best decision.

Find and compare life insurance with Lifebroker’s comparison tool.

*CommInsure is no longer an insurer working with Lifebroker.

This website offers General Advice only and does not consider your personal objectives, financial situation or needs. Before you purchase a product, it is important to read the relevant Product Disclosure Statements to consider if the product is appropriate for you. Lifebroker Pty Ltd (the authorising licensee AFSL 400209) or any related companies will not be held responsible for the merits of this advice to your circumstances. Learn more with the Lifebroker Financial Services Guide, Terms of use, Privacy Policy and guide to its participating insurers.

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