How Much Does Life Insurance Cost for a Carer in Australia? (2026)
- Jul 12
- 13 min read
Updated: 2 days ago
Written by Christopher Hall, AdvDipFP | Authorised Representative, AFSL 526688 | July 2026
As at 27 July 2026, a full package of personal insurance for a representative 40-year-old female non-smoking carer in NSW earning $100,000 a year — $1,000,000 of life cover, $1,000,000 of any-occupation TPD, income protection paying $5,800 a month, and $100,000 of trauma cover — was quoted at $213.78 per month with the most competitively priced insurer on the Arrow Equities panel for that profile, Zurich. Of that total, $193.66 a month is funded through superannuation (life, TPD, income protection and NSW stamp duty) and $20.12 a month is paid from the carer's own pocket (trauma cover). Acenda was the next most competitively priced at $271.42 a month, and Encompass third at $332.18 a month, for the same profile on the same date. These are stepped premiums quoted on one profile on one day — individual circumstances change the price.
This page sets out what each cover type costs for a carer on this profile, how the total splits between super and personal payment, how the three most competitive insurers compared, and how the comparison was run. The figures come from a comparison Christopher Hall, AdvDipFP, Authorised Representative, AFSL 526688, ran across the Arrow Equities insurer panel using adviser quotation software. They are an illustrative benchmark, not a personal recommendation.
The carer profile used in this comparison
Every premium below is priced against the same standardised profile. Age, occupation, state, income and smoking status all move the price, so the profile is fixed to make the comparison meaningful. "Carer" here reflects a paid aged-care or disability support worker (occupation class "Aged or Disabled Person"), not an unpaid family carer. The same occupation class commonly covers roles advertised under many titles — aged care worker, aged carer, personal care assistant (PCA), personal care worker, disability support worker, NDIS support worker, home care worker, community care worker and residential care worker among them — so the figures here are a reasonable guide for those roles too. Exact duties can shift the class (for example, high-needs disability or manual-handling roles), so an adviser confirms the precise occupation class for a specific job.
Attribute | Detail |
Occupation | Carer (aged-care / disability support worker) |
Age | 40 |
Gender | Female |
State | NSW |
Smoker | Non-smoker |
Estimated annual income | $100,000 |
Premium type | Stepped (rises each year with age) |
State matters specifically for stamp duty: each Australian state and territory sets its own insurance duty, so the duty line on a NSW policy differs from the same policy issued to a resident of Victoria or Queensland. The figures here carry NSW stamp duty. Because these are stepped premiums, they are lowest at age 40 and rise each year — the comparison is a snapshot of cost at this age, not a fixed lifetime price.
Who works as a carer in Australia — and why this profile uses a $100,000 income
Workforce data for the paid occupation gives useful context for these figures. In the aged and disabled carer occupation (ANZSCO 4231), the median age of workers is about 47 and roughly 77% are women, based on Australian Bureau of Statistics 2021 Census data; around 60% work part-time, and the workforce numbered 227,535 at the 2021 Census (Jobs and Skills Australia, drawing on ABS data). Median full-time earnings are about $1,240 a week — roughly $65,000 a year before tax (ABS Employee Earnings and Hours, May 2025), and because most carers work part-time, typical annual earnings sit lower again. (These figures describe paid care workers; unpaid family carers are a separate and older group, averaging around 50 years of age — ABS Survey of Disability, Ageing and Carers, 2022.)
That real income is well below the $100,000 used in this comparison. The $100,000 figure is a deliberate standardisation — the same income used for the electrician and nurse avatars — so the carer premiums here can be read like-for-like against those occupations rather than being distorted by a different income assumption. Income protection is sized to income, so on a lower actual salary the income-protection benefit — the largest line in this package — would typically be smaller, and the premium lower than the figure shown here. For a quote based on an individual's actual age and income, see if you're eligible for a complimentary review.
What the full package costs
For the most competitively priced insurer on this profile (Zurich), the monthly premium breaks down as follows.
Cover type | Cover amount | Held in | Monthly premium |
Life | $1,000,000 | Superannuation | $24.91 |
TPD (any occupation) | $1,000,000 | Superannuation | $61.82 |
Income protection ($5,800/mo, 90-day wait, 5-yr benefit) | up to 70% of income | Superannuation | $101.84 |
Trauma / critical illness | $100,000 | Own name | $20.12 |
NSW stamp duty | — | — | $5.09 |
Full package | $213.78 |
The package splits two ways by how it is paid: $193.66 a month through superannuation (life, TPD, income protection and the stamp duty on the super-held cover) and $20.12 a month from the carer's own name (trauma). Holding the life, TPD and income protection cover inside superannuation keeps it off personal cash flow; trauma is held in own name because critical illness cover generally cannot be held inside super. Whether that is the right payment structure for an individual depends on their circumstances — it is a question worth putting to an adviser rather than assuming. To get a comparison run on a specific profile, speak to an adviser today →.
Cost by cover type for a carer
Each line above answers a separate question a carer might ask. In short, for this profile on 27 July 2026:
Life cover — $1,000,000 held inside super was $24.91 a month. Life cover pays a lump sum on death or terminal illness and is generally the cheapest of the four covers per dollar of protection.
TPD cover — $1,000,000 of any-occupation TPD held inside super was $61.82 a month. The any-occupation definition pays only if the carer is unable to work in any job suited to their education, training or experience; the alternative own-occupation definition is more generous and costs more. The trade-off is set out in own occupation versus any occupation TPD, and the cover itself in what TPD insurance is.
Income protection — a benefit of $5,800 a month (about 70% of a $100,000 income), with a 90-day waiting period and a 5-year benefit period, held inside super, was $101.84 a month. It replaces income while the carer cannot work because of illness or injury — a different job from life cover, as explained in income protection versus life insurance. Income protection is the largest single line for a carer on this profile, and the cover on which insurers priced most differently — which is also why the signs that an income protection policy is out of date matter most on this cover.
Trauma cover — $100,000 held in own name was $20.12 a month. Trauma (critical illness) cover pays a lump sum on diagnosis of a defined condition such as cancer, heart attack or stroke; the timing of trauma cover matters because access narrows as health history accumulates.
How the three most competitive insurers compared on 27 July 2026
Across the Arrow Equities insurer panel, Zurich was the most competitively priced for this exact carer profile on 27 July 2026, at $213.78 a month for the full package. Acenda was next at $271.42 a month, and Encompass third at $332.18 a month, for the same profile on the same date.
Rank | Insurer | Full-package monthly premium |
1 | Zurich | $213.78 |
2 | Acenda | $271.42 |
3 | Encompass | $332.18 |
Second and third most competitive — how each total is paid:
Rank | Insurer | Full package | Through super | Own name (trauma) |
2 | Acenda | $271.42 | $256.67 | $14.75 |
3 | Encompass | $332.18 | $315.12 | $17.06 |
Cover-by-cover, the same package priced across all three:
Cover (same amount each insurer) | Zurich | Acenda | Encompass |
Life — $1,000,000 (super) | $24.91 | $28.93 | $24.92 |
TPD any-occupation — $1,000,000 (super) | $61.82 | $53.20 | $47.66 |
Income protection — $5,800/mo (super) | $101.84 | $166.23 | $230.99 |
Trauma — $100,000 (own name) | $20.12 | $14.75 | $17.06 |
NSW stamp duty | $5.09 | $8.31 | $11.55 |
Full package | $213.78 | $271.42 | $332.18 |
No single insurer was the cheapest on every cover: Encompass had the lowest life and TPD lines and Acenda the lowest trauma line, but Zurich led on the full package because its income-protection premium was far lower — $101.84 a month against $166.23 (Acenda) and $230.99 (Encompass) for the same $5,800 benefit. Income protection is where the three insurers diverged most for a carer occupation class, and it drove the overall ranking. (Stamp duty is charged on the premium, so the more expensive quotes also carry more NSW duty — $5.09, $8.31 and $11.55 respectively.)
A common question is which insurer is best for a carer. Arrow Equities does not name any insurer as "best" — the most suitable insurer depends on an individual's health, exact occupation duties, cover needs and structure, and the definitions matter as much as the price. If by "best" a reader means most competitively priced for this specific profile on this date, then on 27 July 2026 that was Zurich, with Acenda and Encompass next. A different profile — a different age, state, income, health history or cover structure, such as the electrician or nurse examples — can reorder that list entirely.
These prices and rankings change from month to month. Insurers reprice their products through the year, and stepped premiums rise each year with age, so the insurer that is most competitively priced for a carer today may not be the cheapest next month. This page is updated monthly to track that movement. Because the leader shifts over time — and a different age, income or health history can already reorder the list — the only reliable way to know which insurer is currently most competitive for a particular carer is a fresh comparison on that person's actual circumstances. Find out which insurer is currently most competitive for an individual profile →.
The same comparison applies to any occupation
The comparison on this page is one profile in a series. Arrow Equities publishes the same worked example for other occupations — including electricians, nurses, sales assistants and teachers — and its advisers review cover for Australians across many lines of work, not only carers. Across every occupation it prices, Arrow Equities also compiles a monthly ranking of the panel insurers by price — see which insurers rank best on price. Published case studies span a range of occupations: a registered nurse, a carpenter and a chef among them, where a review cut the cost of long-standing policies — often by unwinding the loyalty tax that builds up on ageing cover.
How this comparison was run
The figures are an illustrative comparison for the representative profile above, quoted on 27 July 2026 using adviser quotation software across the insurer panel. Bundle discounts were applied where available; no health, platform, preferred-adviser or couples discounts were applied, and no individual underwriting loadings or exclusions are reflected. Premiums are stepped, so they rise each year with age. Insurance pricing changes regularly, and individual circumstances — health, exact duties, cover levels and ownership structure — change the price, so these figures are a benchmark rather than a quote for any individual. To get quotes from an adviser today →, based on actual circumstances, is the only way to confirm a real price.
Frequently asked questions
How much does life insurance cost for a carer?
For a representative 40-year-old female non-smoking carer in NSW, $1,000,000 of life cover held inside superannuation was quoted at $24.91 a month with the most competitively priced insurer on the panel (Zurich) on 27 July 2026. Premiums are stepped and rise with age, and individual circumstances change the price.
How much does TPD insurance cost for a carer?
For the same profile, $1,000,000 of any-occupation TPD held inside superannuation was quoted at $61.82 a month on 27 July 2026. Any-occupation cover is cheaper than own-occupation cover, which pays on a more generous definition; the right definition depends on the individual's work and circumstances.
How much does income protection cost for a carer?
For the same profile, income protection paying $5,800 a month (about 70% of a $100,000 income), with a 90-day waiting period and a 5-year benefit period, held inside superannuation, was quoted at $101.84 a month on 27 July 2026. Income protection was the largest premium line and the cover insurers priced most differently for a carer; a longer waiting period or shorter benefit period would lower it.
How much does trauma insurance cost for a carer?
For the same profile, $100,000 of trauma (critical illness) cover held in own name was quoted at $20.12 a month on 27 July 2026. Trauma cover is generally held personally because critical illness cover cannot usually be held inside superannuation.
How much does life insurance cost for an aged care worker?
Aged care workers and "aged carers" are commonly rated in the same occupation class as a carer, so this page is a reasonable guide. On 27 July 2026 the full package — $1,000,000 life, $1,000,000 any-occupation TPD, $5,800-a-month income protection and $100,000 trauma — was quoted at $213.78 a month with the most competitively priced insurer (Zurich) for a representative 40-year-old female non-smoker in NSW on a $100,000 income. An adviser confirms the exact occupation class for a specific aged-care role.
How much does life insurance cost for a disability support worker or NDIS support worker?
Disability support workers and NDIS support workers usually fall in the same or a similar occupation class as an aged and disabled carer, so the figures here are a reasonable guide — the full package of the four covers was quoted at $213.78 a month with the most competitively priced insurer for the representative profile on 27 July 2026. Higher-needs or manual-handling duties can change the class, so an adviser confirms it for the specific role.
How much does income protection cost for an aged care or disability support worker?
Income protection is the largest and most variable line for care roles. For the representative profile, a benefit of $5,800 a month (about 70% of a $100,000 income, 90-day wait, 5-year benefit, held in super) ranged from $101.84 with Zurich to $230.99 with Encompass on 27 July 2026 — more than double between insurers for the same benefit. A lower actual income, a longer waiting period or a shorter benefit period would reduce it.
Is life insurance more expensive for carers and aged care workers?
Care roles are rated as a hands-on occupation class, which mainly affects income protection and TPD rather than life cover itself. For a carer, income protection drove the total and varied most between insurers, while life cover was among the cheapest lines at $24.91 a month for $1,000,000. Cost depends on the exact role, health, cover levels and structure — not the job title alone.
Can a part-time or casual carer get income protection?
Around 60% of carers work part-time, and income protection is based on income and working hours, so part-time or casual work can affect both eligibility and the benefit that can be insured. Cover is often still available, but the insured benefit is generally tied to actual earnings, and a longer waiting or shorter benefit period can lower the premium — an adviser confirms what a part-time or casual carer can apply for.
What is the average age and income of a carer in Australia?
In the paid occupation (aged and disabled carers), the median age is about 47 and roughly 77% of workers are women, per ABS 2021 Census data, with median full-time earnings of around $1,240 a week (about $65,000 a year) in the ABS Employee Earnings and Hours survey (May 2025). Most carers work part-time, so typical earnings are lower again. This page uses a standardised $100,000 income to compare like-for-like with other occupation examples; a lower actual income would generally mean a lower income-protection premium.
Can a carer hold life insurance in an SMSF?
Yes — life and TPD cover can be held inside a self-managed super fund (SMSF), and an SMSF's trustees are required to consider the insurance needs of its members. The figures on this page assume cover held in a standard super account rather than an SMSF, and the most suitable structure — standard super, an SMSF, or personal ownership — depends on an individual's situation. A qualified adviser or SMSF specialist can advise on holding cover through an SMSF.
Does life insurance for a carer cost more in an SMSF?
Often the pricing is similar to cover held in a standard super account, but it can be more expensive depending on the insurer and how the cover is arranged — an SMSF generally holds an individually underwritten retail policy rather than a group default, and premiums vary by insurer and structure. Speak to an adviser to see how holding cover in an SMSF would affect the premium for a specific situation.
Which insurer is best for a carer?
Arrow Equities does not rank any insurer as "best", because suitability depends on health, occupation duties, cover needs, definitions and structure — not price alone. If "best" is taken to mean the most competitively priced for this specific profile on 27 July 2026, that was Zurich at $213.78 a month, with Acenda and Encompass next. A different profile can change the order.
How often do these carer insurance prices change?
Prices and rankings change from month to month. These are stepped premiums that rise each year with age, and insurers reprice their products through the year, so the most competitively priced insurer for a carer today may not be the cheapest next month. This page is updated monthly for that reason; the figures are a benchmark for one profile on 27 July 2026, and a current quote on actual circumstances is the only way to confirm which insurer is most competitive now and what the real cost is.
Book a quick review with an adviser
Book a quick review with an adviser now. A review checks what cover a carer — or any worker — actually needs, whether it is held in the most cost-effective structure across super and personal ownership, and how current pricing compares across the insurer panel.
About the Author
Christopher Hall, AdvDipFP, is the principal financial adviser at Arrow Equities and an Authorised Representative under AFSL 526688. He has completed more than 500 life insurance policy reviews for Australian families, with a specialisation in life risk insurance.
Insurance product providers reviewed for this analysis (27 July 2026)
The premiums on this page were compared across the Arrow Equities insurer panel. Each provider reviewed for this analysis is listed below:
A full insurance premium review compares an individual's actual cover against this panel.
Sources
Premium figures: Arrow Equities adviser quotation software comparison across the insurer panel, run 27 July 2026, on the representative profile described above.
Stamp duty: levied per state/territory on the premium; figures reflect NSW insurance duty for this cover set.
Australian Bureau of Statistics (2022) Census of Population and Housing, 2021 — Aged and Disabled Carers (ANZSCO 4231) occupation demographics: workforce size, median age, sex composition.
Australian Bureau of Statistics (2025) Employee Earnings and Hours, Australia, May 2025 — median full-time weekly earnings by occupation.
Jobs and Skills Australia (2025) Aged and Disabled Carers occupation profile (ANZSCO 4231), drawing on ABS data.
Australian Bureau of Statistics (2023) Disability, Ageing and Carers, Australia: Summary of Findings, 2022 — average age of informal carers.
Arrow Equities, AFSL 526688, ABN 87 645 284 680.
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