Life insurance is designed to protect family members if something were to happen to the main breadwinner or another contributor to the family. In most cases, parents with children have life insurance to make sure their children protected financially in case of their sudden death. Life insurance in Perth can make sure the family is financially protected so they do not lose their home.

Death Proceeds

When the insured person passes away the person of their choice also known as the beneficiary will receive payment as part of the claim. Payment can be made as a lump sum or can be made as an annuity. This will depend on the claim and the payment agreement.

Term Life Insurance

This insurance is for a specific time period as agreed upon in the contract. The policy does not build up a cash value. This type of policy is usually less expensive to take out than other types. The policy can last for several years. Mortgage insurance can even be added to cover the cost of the home.



Group Life Insurance

This insurance is known as whole life insurance and is term insurance that will cover a group of people. This life insurance usually covers company employees or another specific group of people. The underwriter of the insurance will take into account the size and financial strength of the group. A member can purchase additional individual coverage if they choose to. This is not required but if a person wants additional protection they can get it,

Permanent Life Insurance

This type of life insurance will cover a person for their entire life. This policy is able to build up a cash value over time. A person may access their money and they may even borrow against it. This policy is usually for their entire life. This policy will offer protection but is usually more expensive.

Universal Life Insurance

This insurance will cover a person for their entire life but the payment options are more flexible. This policy will build up a cash value. This policy will help protect the family and a person will be covered from the day they get their policy until the day they pass. This will not have to worry about the insurance policy expiring as long as their premiums are paid.


This policy will pay out a lump sum to the beneficiary upon the death of the policyholder. These policies can last anywhere between ten and twenty years and may only cover a person up to a certain age based on the policy. These policies can be cashed in early for a specific value. This will be based on the cost of the policy and how much money was paid into it over a time period,

These are some of the life insurance options that are covered by life insurance in Perth – This will allow a person to make sure their family is protected and will have the financial protection that they need in case of an untimely death.