Top 5 Life Insurance Companies in Australia

Understanding Life Insurance

What is Life Insurance?

Life insurance is a contract between the policyholder and the insurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of the insured person.

Types of Life Insurance

  1. Term Life Insurance: Provides coverage for a specific term or period.
  2. Whole Life Insurance: Offers coverage for the entire life of the insured, with guaranteed premiums.
  3. Universal Life Insurance: Combines a death benefit with a savings component.
  4. Variable Life Insurance: Allows the policyholder to allocate premiums among various investment options.

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