Lifebroker

Lifebroker, life insurance comparison service in Australia

Lifebroker is a life insurance comparison service with over ten years of experience operating in Australia. Its business consists of bringing together policies from the country's leading insurers in one place so that users can compare and take them out. The company presents itself as an alternative for those who do not have time to research all the insurers in the market on their own.

The comparison service is free and, according to the company, adds no commissions or additional charges. Applications can be completed over the phone with the support of a team of advisers.

Insurance products it compares

The comparison catalogue covers several types of personal and business protection:

• Life insurance: financial protection for the family.
• Total and Permanent Disability (TPD) insurance: cover in the event of total and permanent disability.
• Trauma and critical illness insurance: support following the diagnosis of a specified condition, such as cancer.
• Income protection insurance: helps you meet financial commitments when you are unable to work.
• Key person insurance: protects a company against the loss of a key person within the organisation.

Insurers on its panel

Lifebroker works with a panel of leading insurers in Australia. Among the companies it provides information on are AIA, Acenda, OnePath, TAL, and Zurich. The site publishes claims paid in 2024 by some of them: $554 million for the first insurer by size, $862 million for the second, $738 million for the third, $475 million for the fourth, and $881 million for the fifth. These figures come from the insurers themselves and relate to retail policies sold through aggregators and the independent financial advice (IFA) market.

The company notes that TAL Life issues policies such as TAL Accelerated Protection, Asteron Life Complete, and Protection Plans (previously marketed under the BT, Westpac, or St.George brands) that it may compare from time to time.

Tools and application process

The site offers users life insurance and income protection calculators to estimate the cover needed. The company states that the application process can be completed over the phone and that its team supports the client throughout the process. It also provides ongoing service to adapt cover as personal circumstances change.

Corporate structure and regulation

Lifebroker Pty Ltd operates with ACN 115 153 243 and AFSL 400209. It is part of the TAL Dai-ichi Life Australia Pty Limited group (ABN 97 150 070 483), which includes the insurer TAL Life Limited (ABN 70 050 109 450, AFSL 237848). Lifebroker is a related body corporate of National Financial Solutions Pty Ltd (NFS), ABN 92 083 177 011, AFSL 284182.

The company warns that it only provides general advice, without considering the client's individual financial situation, objectives, or needs, and that it does not compare all insurers or policies available in Australia.

Customer service

The Lifebroker team is available on 13 54 33, Monday to Friday from 9:00 am to 5:30 pm (Melbourne time). Appointments are also available on Saturdays for applications. The company has a postal address at PO Box 5054, South Melbourne VIC 3205.

Location and contact

PO Box 5054 South Melbourne VIC 3205