How Much Does Life Insurance Cost for an Electrician in Australia? (2026)
- Jun 26
- 11 min read
Written by Christopher Hall, AdvDipFP | Authorised Representative, AFSL 526688 | Updated July 2026
As at 26 June 2026, a full package of personal insurance for a representative 40-year-old male non-smoking electrician 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 $175.25 per month with the most competitively priced insurer on the Arrow Equities panel for that profile, Zurich. Of that total, $158.95 a month is funded through superannuation (life, TPD, income protection and NSW stamp duty) and $16.30 a month is paid from the electrician's own pocket (trauma cover). TAL and MetLife were the next most competitively priced 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 an electrician on this profile, how the total splits between super and personal payment, which insurer was most competitively priced on 26 June 2026, 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 electrician 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.
Attribute | Detail |
Occupation | Electrician |
Age | 40 |
Sex | Male |
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. "Electrician" here reflects a licensed electrical tradesperson; electricians, special-class electricians and related electrical trades (sometimes called "sparkies") are commonly rated in the same or a similar occupation class, so the figures are a reasonable guide for those roles too (an adviser confirms the exact class for a specific role).
Who works as an electrician in Australia — and why this profile uses a $100,000 income
Workforce data gives useful context for these figures. In the electrician occupation (ANZSCO 3411), the median age of workers is about 33, and it is a heavily male trade — roughly 98% are men (Jobs and Skills Australia, drawing on ABS 2021 Census data); around 94% work full-time, and general electricians alone number well over 125,000, one of Australia's larger trades. Median full-time earnings are about $2,191 a week — roughly $114,000 a year before tax (ABS Employee Earnings and Hours, May 2025).
The 40-year-old, $100,000 profile used here is a deliberate standardisation — the same age and income used for the nurse, carer, sales assistant and teacher avatars — so the electrician premiums here can be read like-for-like against those occupations. A full-time electrician's real median earnings are actually higher than $100,000 (about $114,000), and income protection is sized to income, so an electrician on that income could be quoted a slightly larger income-protection benefit — and premium — than shown here. Trades are also rated a hands-on occupation class, which mainly lifts the income-protection and TPD lines. For a quote based on an individual's actual age and income, see if you're eligible for a 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 | $28.76 |
TPD (any occupation) | $1,000,000 | Superannuation | $62.04 |
Income protection ($5,800/mo, 90-day wait, 5-yr benefit) | up to 70% of income | Superannuation | $64.90 |
Trauma / critical illness | $100,000 | Own name | $16.30 |
NSW stamp duty | — | — | $3.25 |
Full package | $175.25 |
The package splits two ways by how it is paid: $158.95 a month through superannuation (life, TPD, income protection and the stamp duty on the super-held cover) and $16.30 a month from the electrician'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 an electrician
Each line above answers a separate question an electrician might ask. In short, for this profile on 26 June 2026:
Life cover — $1,000,000 held inside super was $28.76 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 $62.04 a month. The any-occupation definition pays only if the electrician 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 $64.90 a month. It replaces income while the electrician cannot work because of illness or injury — a different job from life cover, as explained in income protection versus life insurance.
Trauma cover — $100,000 held in own name was $16.30 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.
Which insurer was most competitive on 26 June 2026
Across the Arrow Equities insurer panel, Zurich was the most competitively priced for this exact electrician profile on 26 June 2026, at $175.25 a month for the full package. TAL and MetLife were the next most competitive and are ranked equal second for this profile and date.
A common question is which insurer is best for an electrician. 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 26 June 2026 that was Zurich, with TAL and MetLife close behind. A different profile — a different age, state, income, health history or cover structure, such as the nurse, carer, sales assistant or teacher 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 most competitively priced for an electrician today may not be the cheapest next month. This page is updated monthly to track that movement, and Arrow Equities also compiles a monthly ranking of the panel insurers across every occupation it prices — see how the insurers rank across occupations. The only reliable way to know which insurer is currently most competitive for a particular electrician 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 nurses, carers, sales assistants and teachers — and its advisers review cover for Australians across many lines of work, not only trades. 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 26 June 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 an electrician?
For a representative 40-year-old male non-smoking electrician in NSW, $1,000,000 of life cover held inside superannuation was quoted at $28.76 a month with the most competitively priced insurer on the panel (Zurich) on 26 June 2026. Premiums are stepped and rise with age, and individual circumstances change the price.
How much does TPD insurance cost for an electrician?
For the same profile, $1,000,000 of any-occupation TPD held inside superannuation was quoted at $62.04 a month on 26 June 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 an electrician?
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 $64.90 a month on 26 June 2026. A longer waiting period or shorter benefit period would lower the premium.
How much does trauma insurance cost for an electrician?
For the same profile, $100,000 of trauma (critical illness) cover held in own name was quoted at $16.30 a month on 26 June 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 electrical tradesperson?
Electricians and related electrical trades (sometimes called sparkies) are commonly rated in the same or a similar occupation class, so this page is a reasonable guide: 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 $175.25 a month with the most competitively priced insurer (Zurich) for the representative profile on 26 June 2026. An adviser confirms the exact occupation class for a specific electrical role.
Can a self-employed or contractor electrician get income protection?
Many electricians are self-employed or work as contractors. Income protection is available to self-employed tradespeople, but the insurable benefit is based on income (and usually needs evidence of earnings), and the waiting and benefit periods can be tailored. Cover is often held inside super or personally depending on circumstances — an adviser confirms what a self-employed or contractor electrician can apply for.
How much life insurance does an electrician need?
There is no single figure — the amount depends on a person's debts (especially a mortgage), the income their household would need to replace, their dependants, and any existing cover, including default cover through their super fund. A common starting point is enough to clear debts plus a few years of income, but that is only a guide. A qualified adviser can calculate a level of life, TPD, income protection and trauma cover suited to an individual electrician's circumstances.
How do I compare life insurers for electricians?
A like-for-like comparison holds everything constant except the insurer — the same cover amounts, the same income-protection waiting and benefit periods, and the same occupation and health assumptions — then ranks on price. That is how the figures on this page were produced. Price is only part of it, though: definitions, benefit periods and how cover is structured across super and personal ownership matter as much. An adviser can run the current comparison across the panel on an individual electrician's actual details.
Can an electrician 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 an electrician 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 an electrician?
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 26 June 2026, that was Zurich, with TAL and MetLife ranked equal second. A different profile can change the order.
Do these electrician insurance premiums change?
Yes. These are stepped premiums, so they rise each year with age, and insurers reprice their products over time. The figures are a snapshot for one profile on 26 June 2026 and should be treated as a benchmark, not a guaranteed price — a current quote on actual circumstances is needed to confirm cost.
Book a quick review with an adviser
Book a quick review with an adviser now. A review checks what cover an electrician — 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 (26 June 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 26 June 2026, on the representative profile described above.
Stamp duty: levied per state/territory; figures reflect NSW insurance duty.
Australian Bureau of Statistics (2022) Census of Population and Housing, 2021 — Electricians (ANZSCO 3411) occupation demographics: 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 (2026) Electricians occupation profile (ANZSCO 3411), drawing on ABS data.
Arrow Equities, AFSL 526688, ABN 87 645 284 680.
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