In Australia, the term ‘life insurance’ refers to several different types of insurance. From term life insurance to income protection, each one offers some level of financial support. Your insurer pays out money if a serious life event occurs. These events include disability or illness. Life insurance also protects your loved ones if you pass away.
It’s wise to have at least one type of life insurance. Many people use more than one. Which type is right for you?
You may want to choose a certain type of life insurance depending on factors like your life stage, family size, and your finances. Here’s a look at your options.
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