Compare courses from top Australian unis, TAFEs and other training organisations.

How to Become A Life Insurance Advisor

Icon representing Life Insurance Advisor career

Sorry, we don't have any courses leading to a career as a Life Insurance Advisor for you at the moment. Please try searching again.

What is a Life Insurance Advisor

A Life Insurance Adviser helps people choose the right cover to protect their income and family if the unexpected happens. It is a career that blends people skills with financial know-how every day.

Advisers work with products like term life cover, TPD insurance, trauma cover, and income protection. No two clients are the same, so every meeting brings a fresh challenge.

To give personal advice in Australia, advisers must be authorised under an AFS licence and meet ASIC’s education rules. Since 2019, new entrants need an approved bachelor’s degree and must pass the national Financial Adviser Exam.

Life Insurance Advisers work in planning firms, insurance brokerages, or for themselves. The career offers real flexibility and strong pay as a client base grows.

Career Outlook for Life Insurance Advisor

Life Insurance Advisers are in steady demand across Australia. With more Australians focused on financial security, demand for life insurance advice keeps growing. This includes advice on life cover, TPD, trauma, and income protection.

Australia has around 16,000 registered advisers on the ASIC Financial Advisers Register (ASIC, 2024). After a period of change following the 2019 Royal Commission into Banking, numbers have levelled out. New graduates are now entering the field in growing numbers.

The average annual salary for Insurance Adviser roles in Australia ranges from $100,000 to $120,000 (SEEK, June 2026). Most advisers work full-time, around 38 to 40 hours per week. With experience, senior advisers can earn $140,000 or more and enjoy flexible work.

On this Article

Introduction

Average Salaries

Resources

Steps to become a Life Insurance Adviser

Step 1: Complete an ASIC-Approved Bachelor’s Degree

Enrol in a bachelor’s degree approved under ASIC’s education rules. Suitable options include a Bachelor of Commerce (Financial Planning) or a Bachelor of Business (Financial Planning) at an Australian university. Related bachelor’s degrees with approved financial planning subjects also qualify. Full-time study takes 3 years. Online and on-campus options are available. Check that your chosen degree is on the ASIC-approved course list before you enrol.

Step 2: Pass the Financial Adviser Exam

Sit and pass the national Financial Adviser Exam run by ASIC. The exam tests knowledge of financial advice law, ethics, and client engagement under the Corporations Act 2001. You can sit the exam in your final year of study or after you graduate. It covers the Financial Planners and Advisers Code of Ethics 2019 in detail.

Step 3: Complete a Supervised Professional Year

Work for 12 months as a provisional adviser under the guidance of a registered senior financial adviser. You must complete 1,600 hours of work and a set range of activities. These activities cover client advice, technical skills, and professional standards. Your supervisor must appear on the ASIC Financial Advisers Register. Many planning firms run structured professional year programs.

Step 4: Get Authorised Under an AFS Licence

Apply to be an authorised representative of an AFS licensee, or get your own AFSL through ASIC. AFSL stands for Australian Financial Services Licence. Most new advisers join a planning firm as an authorised representative. The firm holds the licence and oversees your conduct. You will then appear on the ASIC Financial Advisers Register as an authorised adviser.

Step 5: Join the FAAA and Meet Annual CPD Requirements

Consider joining the Financial Advice Association Australia (FAAA), the profession’s peak body. ASIC requires all financial advisers to complete at least 40 hours of CPD each year (ASIC, 2024). CPD covers rule updates, insurance products, ethics, and communication skills. FAAA membership gives you access to resources, events, and ongoing development.

What does a Life Insurance Advisor do?

A Life Insurance Adviser spends their day talking to clients and reviewing their cover needs. They write up advice that matches each client’s situation. They also lodge policy applications, handle renewals, and stay on top of ASIC regulations. Building strong client relationships is a big part of the job. Most new business comes through referrals and repeat consultations.

Tasks

Life Insurance Advisers help clients protect what matters most. Every day they consult, research, and advise. The list below shows the main tasks involved in the role.

  • Client Consultation – Talking with clients to understand their financial goals and cover needs.
  • Needs Analysis – Assessing each client’s situation and finding gaps in their current cover.
  • Policy Recommendations – Recommending suitable life, TPD, trauma, or income protection policies.
  • Application Assistance – Helping clients complete and lodge their insurance applications.
  • Claims Support – Helping clients understand the claims process and what to expect.
  • Policy Reviews – Checking in with clients as their life circumstances change.
  • Market Research – Staying informed about new products and ASIC regulatory updates.
  • Compliance – Meeting best interests duty requirements under the Corporations Act 2001.
  • CPD – Completing at least 40 hours of professional development each year (ASIC, 2024).

Skills for Success

Life Insurance Advisers need a mix of people skills and financial knowledge. Strong communication is the most important ability. Advisers explain complex insurance concepts to clients who may have never thought about cover before.

Detail-oriented, organised, and trustworthy are traits that matter in this career. Clients share personal information about their health and finances, so integrity and professionalism are key.

Analytical thinking helps match the right policy to each client’s situation. ASIC requires financial advisers to complete at least 40 hours of CPD each year (ASIC, 2024). Staying on top of new products and rules is part of what makes a great adviser.

Skills & Attributes

  • Clear and simple communication
  • Active listening and empathy
  • Analytical thinking
  • Attention to detail
  • Sales and negotiation skills
  • Knowledge of life insurance products and ASIC regulations
  • Problem-solving
  • Time management and organisation
  • Client service focus
  • Relationship building
  • Adaptability and resilience
  • Ethical judgement and integrity

Average Salaries

The average yearly salary for a Life Insurance Adviser in Australia ranges from $100,000 to $120,000 (source: SEEK, June 2026). Entry-level advisers typically earn around $80,000 per year. Senior advisers with a strong client base can earn $140,000 or more.

min $80 K

max $140 K

av $110 K

About the author

Laura Atkinson - Course Finder Groups
Laura Atkinson

Laura Atkinson is an Account Management and SEM specialist at Course Finder Group with six years' experience in the Australian education sector. She works day to day with universities, TAFEs and independent training providers, which gives her a close view of how courses map to real career outcomes. She writes practical guidance on career pathways, choosing the right qualification and what to expect when moving into a new field.