How does our life insurance comparison work?

How do we make money?

We don’t charge consumers anything to use our comparison service. Instead, we receive a commission from the insurance brokers we partner with each time one of our customers takes out a new life insurance policy (“Life Product”) through our website. The commission we receive differs between brokers. More details about our fees can be found in our Financial Services Guide (Life Insurance Products).

We pride ourselves on the integrity of our comparison service so it is critically important to us that the way we make money doesn’t affect the comparison or presentation of products from our partner insurers.

How does our comparison service work?

Choosing the right life insurance policy is important, but it’s often difficult and time consuming. Our comparison services aims to make the process easier and faster, giving our customers peace of mind that they have made the right decision. It does this by helping customers shop around for a better deal, and by highlighting certain product features they may be willing to forego to save money.

On our website, our customers can enter details about themselves, tell us what type of Life Product they want, then browse through the matching policies that are available to them.

Once a customer has chosen to purchase a Life Product, they can elect to contact, or be contacted by, one of our two trusted life insurance partners to complete the application: Lifebroker Pty Ltd (“Lifebroker”) AFSL 40020 or Auto & General Services Pty Ltd ACN 003 617 909 (“AGS”) AFSL 241411. We are an authorised representative of Lifebroker in relation to products made available by Lifebroker, and we are an authorised representative of AGS in relation to the Ozicare product. We are also a related body corporate to AGS.

The comparison service and any other information provided on our website is factual information or general advice. That means that we don’t make personal recommendations or suggestions, or give advice, about the suitability of a particular insurance product for a customer’s specific needs. Rather, we encourage our customers to evaluate their needs, objectives and situation to decide which products are suitable for them, using our comparison service as a helpful tool. More information can be found in our Financial Services Guide (Life Insurance Products).

What brands and products do we compare?

We currently compare products from nine life insurance brands:

We are working hard to welcome on board insurers that are not currently part of our comparison service and we hope to have good news on that front for our customers in the future.

There will be times when certain brands are not available, or do not return any quotes to a customer, for example, where the customer does not meet the underwriting criteria, or is not eligible, for particular products.