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Life Insurance

Finding a Life Insurance Quote Online: The Key Tips

22 Mar 2021

Life Insurance by Life Stage

The choices you make today can impact your long-term health, wealth and happiness. Understand the important role Life Insurance can play in key life events.

The Internet has made everything more straightforward in many ways. This extends to getting life insurance quotes.

If you’ve found the right tools, you still have to know how to use them properly.

Not so long ago, people had to go from broker to broker or insurer to insurer,  or telephone a life insurance company, to get indicative quotes for life insurance.

Today, you can just hop online to do all of that and more.

You may be skeptical about getting a ​life insurance quote online​, but the fact is that this is an excellent way to save time and quickly identify something suitable. A few clicks can replace several phone calls to life insurance agents and companies.

Of course, like with anything online, problems can come up if you’re not vigilant. Before you start researching life insurance quotes on the web, there are things you need to know. It’s important to be careful to avoid scams or end up with not enough insurance, but if you bear these tips in mind, you may be able to take full advantage of the power of the internet and decrease the risk that you end up being scammed.

1. Check Comparison Sites for a Good Overview

New comparison tools are emerging regularly. They make your research easier because you don’t have to browse through so many websites. You have lots of information in one place.

Most of these tools, such as Finder or Canstar, include information on a range of life insurance companies and what they have to offer.

When you finish your online search, you can make a list of perhaps the top three providers in your mind. Make sure you consider product features and benefits, as well as pricing. After that, you can continue your research by reading more about these providers. When making a decision about life insurance cover, you should always read the Product Disclosure Statement (PDS) about the product you’re considering. Typically, the PDS will be available on the insurers’ website.

Also, only check for quotes on trusted websites.

2. Calculate How Much Life Insurance You Need Before You Search

Knowing what you need may speed up your search and make it simpler. If you start looking for life insurance policy quotes online ​without a clear plan, it may not get you very far.

It’s advisable to know the approximate amount of money that your family would need if you’re to pass before your time.

Dig into your financials…

What’s your monthly income?

How much money do you need to pay bills and debts each month? What other expenses would fall on your beneficiaries?

Your bank statement is a useful piece of information which can help you calculate the amount of life insurance cover you’re going to need.

After you have a number, you can get indicative quotes and see if you can afford that much cover. If not, continue with your research. What are the factors that impact the quotes?

Smokers and people with serious illnesses will have higher rates. That’s a given, but you may be able to change things up. You could quit smoking and see how it could affect your rates.

3. Check Out Reviews of the Provider You Get a Quote From

After you’ve narrowed down your choices to two or three providers, consider searching for them on Google and check out customer reviews.

Are people mostly happy with their services? If not, what seems to be the main issue? If it’s something that doesn’t apply to you, you may still go for that particular provider.

Don’t forget to check forums as well. You may not trust the reviews, but forum users with no agenda may express their honest opinions and experiences.

Of course, you can save all of that trouble if you just go with the most established life insurance companies in Australia. Find out which insurer has a solid  track record and enough claims reserve to cover all eventualities. Speaking of which…

4. Always Look Beyond the Price and Into the Policy

The cost of a life insurance policy isn’t always the most critical factor. What good is a life insurance policy if it doesn’t cover your needs?

Sometimes you may need to set aside a bit more money to get a policy that keeps your loved ones protected if something unexpected happens to you.

Most insurance providers allow you to update your policy from time to time, so you may be able to make changes if your income increases and you can afford a higher level of cover if you decide you need it (but remember you may be required to undergo a further underwriting process, depending on your policy terms and how much you want to increase your cover by).

5. Choosing the Right Life Insurance Online

The fact that you’re now able to get a life insurance quote online is an excellent thing. These estimates are free and you can get them in minutes. That spares you the phone calls.

The key is to research properly. Check out the trustworthy sites that can help you find some of the best life insurance providers. You’ll see a number of providers and products listed in one place, the better to compare them and find what you need.

Ultimately, online comparison tools usually provide some information about what a policy may cover. You’ll be able to think about discarding the products that you decide don’t suit your needs and narrow down your choices. That would make it easier to make those phone calls and find the right cover for you.


Do you need life insurance?

That is a question that only you can answer. You may choose to get some professional advice, or to carefully consider your own needs and circumstances and deal directly with a Life Insurer like NobleOak who can provide you with general advice and product information.

Disclaimer: This is general information only and does not take into consideration your individual circumstances, objectives, financial situation, or needs.

Please do not use this information as a substitute for getting a proper quote and deeper assessment of your choices.




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