Why life insurance in super may not be enough
Best-Value Direct Life Insurance: NobleOak and Budget Direct
Close to nine million Australians have life insurance through their super fund, but that doesn't mean you have to hold cover this way.
There can be good reasons to hold life insurance directly outside of super or to simply top up the level of cover that's already provided by your super fund.
In addition, if you are among the 1.2 million people with a self-managed super fund, you will need to organise your own life insurance.
NobleOak is no stranger to our insurance awards, having taken home Money's award for Best Direct Life Insurance Cover of the Year in 2022 and 2024.
With a heritage spanning more than 145 years, NobleOak has offered life insurance directly to Australians since 2012.
Miguel Cortes, senior product manager at NobleOak says, "Integrity and putting customers first remain at the heart of our business.
"We only offer fully underwritten life insurance directly to our customers. This means we take the time upfront to understand each customer's health and lifestyle before issuing cover.
"By collecting the right information early, we can tailor premiums and terms to the individual, rather than pricing for uncertainty. This allows us to keep our premiums competitive while still delivering quality cover customers can rely on."
Cortes explains, "Combined with our commitment to excellent customer service, this approach ensures customers receive genuine value, quality cover, fair pricing and support they can trust."
Our joint winner, Budget Direct (insurance provided by NobleOak) is a household name in Australia's insurance scene, and was the winner of Money's Best-Value Direct Life & Trauma Insurance award in 2025.
Budget Direct offers life cover from $50,000 to $25 million, with a maximum entry age of 74.
This is a key point of difference from life cover through super, which typically ends at age 70.
NobleOak also provides cover up to age 74 - although to a maximum of $500,000.
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