There are many different types of life insurance available in Australia, and it can be difficult to know which one is best for you. Here is a rundown of the different types of life insurance and some tips on choosing the best policy for you.
Term life insurance is the most basic type of life insurance. It provides a death benefit to your beneficiaries if you die within the term of the policy. Term life insurance is generally the most affordable type of life insurance, but it does not build up any cash value.
Whole life insurance is a type of permanent life insurance. It provides a death benefit to your beneficiaries, but it also builds up cash value over time. Whole life insurance is usually more expensive than term life insurance, but it can be a good option if you want to have life insurance coverage for your entire life.
Universal life insurance is another type of permanent life insurance. Universal life insurance has two components: a death benefit and a cash value account. The cash value account grows
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