Life insurance comparison

Q: What types of extras can I add?

For Suncorp Life Insurance , you can choose to add Major Illness Cover and Cancer Cover. Major Illness Cover provides a lump sum payment of up to $250,000 if you're diagnosed with a specified critical illness – such as cancer, stroke, or heart attack (meeting defined severity criteria). Cancer Cover provides a lump sum payment of up to $250,000 if you're diagnosed with cancer that meets specific criteria. Both are designed to help reduce financial stress while you focus on treatment and recovery. For Suncorp Income Protection , you can choose to add the Accident Benefit Option. This means that if an accidental injury leaves you totally unable to work during your waiting period and beyond, your benefit payments will start to accrue from the date of the injury – helping ease financial strain further. For Suncorp Funeral Insurance , you can choose to add Accidental Death Cover. This pays an additional lump sum of $1,000 to $50,000 if you die as a result of an accident, or within 6 months of an accident-related injury. It’s paid on top of the Funeral Benefit cover to help your loved ones manage unexpected costs.

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Save $100 in your first year^{^}

Take out a new Suncorp Life Insurance or Income Protection policy and save $100 in your first year.

T&Cs apply.

The decisions you make today can make a difference to your family’s future. Suncorp Life’s range of insurance policies can help protect your way of life, as well as provide financial support to your family if you pass away or become terminally ill.

What life insurance options are available with Suncorp Life?

If you’re searching for the best life insurance in Australia or simply comparing options, this guide explains Suncorp Life Insurance products and what to consider when choosing cover.

Life Insurance includes:

Helps protect your loved ones from financial strain should you pass away or become terminally ill.

Comprehensive cover for up to $1.5 million
Up to $10,000 advance payment (upon death)
No medical exams are required to apply
Easily change your cover amount as your life changes
Optional extras like Major Illness Cover or Cancer Cover

Learn more

Get a quick quote

Income Protection includes:

Gives you cover for part of your monthly income if you’re unable to work due to illness or injury. So, you can focus on getting better.

Cover up to 75% of your income up to $10,000 a month
Your choice of a 14, 28, 60 or 90 day waiting period
Receive income payments for 6 to 60 months depending on your choice
Access to Recovery Support Benefit for up to two months

Learn more

Get a quick quote

Funeral Insurance includes:

Can help ease the financial strain on your family, providing them with a lump sum to help cover funeral expenses and other unexpected costs.

Cover starts from just $2.95 a week

Fast payout - generally within 24 hours of your claim being approved

5% multi-life discount when you add another adult to the same policy

Learn more

Get a quick quote

Tips for choosing the best cover for you

Everyone’s insurance needs are different. Here are some things to consider when choosing your life insurance policy:

Work out what you need the cover to do

Start by asking: What would your family need if something happened to you? Do you want to clear debts, replace your income, or help with funeral costs? Knowing the purpose helps narrow your options.

Decide how much cover you actually need

Once you’ve settled on the type/s of cover you want, start by looking at your debts, income, everyday living expenses, education costs, and future plans.

Check what’s already covered through super

Many superannuation funds include basic life insurance or income protection, but it may not be enough to meet your family’s needs. It’s worth checking what you already have, so you don’t double up or leave gaps.

Understand what’s included (and what’s not)

Some insurance companies offer policies with built-in benefits like terminal illness or total and permanent disability (TPD) insurance. Suncorp Life offers optional add-ons like Major Illness Cover (also called Critical Illness/Trauma Insurance) and Cancer Cover, so you have more choice and control over your policy. Always read the relevant Product Disclosure Statement (PDS) and Target Market Determination to understand what an insurer pays out for and what is not covered.

Tools to help you decide on your cover type and amount

Below is a handy table to help you understand what each life insurance product covers.

Our Life Insurance Calculator can help you run the numbers, to tailor your life insurance benefit amount to your personal situation.

Which life insurance policy is right for you?

Life Insurance

Lump sum benefit

Income Protection

Monthly benefit

Funeral Insurance

Lump sum benefit

Will I be covered if I die?

Yes, when within the terms of the policy.

Cover is for accidental death only in the first 12 months of your policy. Premiums refunded for death caused by sickness in the first 12 months of your policy.

After 12 months, cover is for any cause of death (whether by accident or due to sickness or any other cause).

Policy terms apply

Will I be covered if I become sick and cannot work?

Yes, but must be sick and unable to work in accordance with the policy.

Policy terms including waiting periods apply

See “Will I be covered if I’m diagnosed with a terminal illness"

Will I be covered if I am injured and cannot work?

Yes, but must be injured and unable to work in accordance with the policy.

Policy terms including waiting periods apply

Will I be covered if I’m diagnosed with a terminal illness?

Advancement of death benefit where you are diagnosed with a terminal illness.

Policy terms apply

Yes, monthly benefit payable if you are sick and unable to work in accordance with the policy.

Policy terms including waiting periods apply

What is the maximum cover (upon approved claim)?

Up to $1.5 million.

Policy terms apply

Up to 75% of your income covered up to $10,000 per month for sickness or injury for 6, 12 or 24 or 60 months depending on your policy.

Lump sum of $15,000

Policy terms apply

What is the minimum cover (upon approved claim)?

Up to $10,000.

Policy terms apply

$1,000 per month for sickness or injury for 6, 12 or 24 or 60 months depending on your policy.

Lump sum of $3,000.

Policy terms apply

What is the minimum age I can apply?

What is the maximum age I can apply?

Why choose Suncorp Life Insurance?

Trusted by thousands
Every day, Australians turn to Suncorp Life to help protect what matters most.

Loyalty gets rewarded
Enjoy a 5% discount when you hold another Suncorp-branded insurance policy.

Cover that’s clear and flexible
Our policies are built to be easy to understand – with options to suit your life.

Support that evolves with you
As life changes, your cover can too – you can apply to increase your cover without any evidence of your health when you get married, have a child or take out a new mortgage.

Choose adjustable cover for your life stage

Wherever you’re at in life, Suncorp Life has life insurance cover options that may be suitable for you. To help you out, here’s some general information about common life stages and events below, along with cover options that may be considered by people at different life stages. You should always read the Product Disclosure Statement before buying insurance and consider your own personal circumstances and needs.

Young and single

Seniors

Empty nesters

Death/illness in the family

Having a family

Buying a home

Insights and stories

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What is Life Insurance and Income Protection?

You never know what's just around the corner, so having income protection in place can help provide you with financial security if you're unable to work due to sickness or injury.

Common Life Insurance Terms and Definitions

Choosing the right life insurance policy for your needs isn't always straightforward, not just because it can be a big decision but because life insurance policies and their various terms can be overwhelming.

3 types of people who should consider Life Insurance

Life Insurance should change and evolve as your life does. Read about three types of people who may consider getting Life Insurance at different stages in life.

What’s the difference between life and health insurance?

Life insurance and health insurance are different, offering a range of benefits across a variety of scenarios. So, which product is best for your situation?

Freqyently Asked Questions

Life insurance gives a lump sum payment if you die or are diagnosed with a terminal illness with a life expectancy of 12 months or less. Income Protection pays you a monthly benefit if you're unable to work due to illness or injury and benefits accrue after you have served a waiting period. One supports your family long-term; the other supports your everyday needs while you recover.

No, with Suncorp Life Insurance and Suncorp Income Protection policies, no medical exam is required. We will ask you some questions about your personal circumstances, including your health and medical history, occupation, income, lifestyle, and current and past insurance.

This information helps us decide whether we can cover you, the appropriate cover amounts we can offer, and what premium will apply.

For Suncorp Funeral Insurance, the only eligibility criteria are that you are:

aged 45 to 80; and
an Australian citizen; or
an Australian permanent resident; or
a New Zealand citizen.

That depends on your personal circumstances, but you should consider your major debts and ongoing living expenses to allow your family to maintain their lifestyle if you were off work for a while or were no longer around. Our Life Insurance Calculator can help work out how much cover you need.

Yes, you can adjust your amount of cover and add or remove extras. We recommend you review your policy after major life events – like having a baby or buying a house – to align it with your changing needs.

For Suncorp Life Insurance, you can choose to add Major Illness Cover and Cancer Cover.

Major Illness Cover provides a lump sum payment of up to $250,000 if you're diagnosed with a specified critical illness – such as cancer, stroke, or heart attack (meeting defined severity criteria).
Cancer Cover provides a lump sum payment of up to $250,000 if you're diagnosed with cancer that meets specific criteria.

Both are designed to help reduce financial stress while you focus on treatment and recovery.

For Suncorp Income Protection, you can choose to add the Accident Benefit Option. This means that if an accidental injury leaves you totally unable to work during your waiting period and beyond, your benefit payments will start to accrue from the date of the injury – helping ease financial strain further.

For Suncorp Funeral Insurance, you can choose to add Accidental Death Cover. This pays an additional lump sum of $1,000 to $50,000 if you die as a result of an accident, or within 6 months of an accident-related injury. It’s paid on top of the Funeral Benefit cover to help your loved ones manage unexpected costs.

Once your policy is in place, your cover remains valid even if your health changes down the track. A history of a medical condition may make you ineligible for cover or an exclusion being applied to your policy. That’s why it’s often a good idea to apply while you’re in good health.

^{^}The '$100 off first year discount' is available to new customers who take out a quote and purchase a new Suncorp Life Insurance or Income Protection policy between 27 August 2026 and 24 February 2027. The $100 is spread evenly across the first year's premium payments; full benefit requires maintaining the policy for 12 months unless premiums are paid annually. If the policy is cancelled or payment frequency changes during the first year, any unallocated portion of the discount will not be honoured. This discount applies only once per policy and does not continue after the first year.

Where an eligible customer is also an existing Suncorp customer who hold other Suncorp branded insurance policies such as home or car insurance, the customer will also receive the standard 5% Existing Customer discount offered on Suncorp Income Protection or Life Insurance.

TAL as issuer of the policy reserves the right to change or withdraw this offer for future customers at any time without prior notice.

The information is intended to be of general nature only. Subject to any rights you may have under any law, we do not accept any legal responsibility for any loss or damage, including loss of business or profits or any other indirect loss, incurred as a result of reliance upon the information. Please make your own enquiries.