Term life insurance in Australia refers to a type of cover which protects you provided you continue to pay your premiums on time. It pays a lump sum of money to your loved ones when you pass away, and you have the option of having the funds paid to a pre-determined beneficiary or to your estate.

This type of policy typically covers you up to age 99, and is the main type of life policy available in Australia.

Top term life insurance companies in Australia
Below is list of the top personal insurance companies in Australia. All of these companies are AA or AAA rated, meaning that they are financial stable and trustworthy.

* AIA
* AMP
* Asteron
* Aviva
* AXA
* CommInsure
* ING
* Macquarie
* MetLife
* MLC
* Tower
* Zurich

Compare term life insurance policies in Australia
Each company has their own policy, with different definitions, built in standard benefits, and optional Levitra benefits at additional cost.

Be sure to compare a few different policies and ask for a number of quotes. Each life company will assess your situation and calculate a premium based on the level of risk the linsurer undertakes in offering you coverage. As such, each insurer will quote you different premiums.

Apart from the cost of your premiums, you may like to look at any additional benefits that each policy may have. Some insurers offer things like funeral advancement benefits, child cover, and accidental injury benefits.

Buy term life insurance in Australia
Once you have narrowed your search it is important that you read the insurer’s product disclosure statement (PDS) to fully understand what is covered should you decide to go ahead.

If you do decide to buy cover, you have the option of paying monthly or annual premiums. Paying for your premiums annually can offer significant savings, however if a large annual sum cannot be worked into your budget, then a monthly premium may be better for you and offer better cash flow.

Best life insurance quotes in Australia
The best policies and quotes will always vary depending on your own personal situation. Most insurers usually assess each application on a case by case basis.

If you are unsure which policy is best for your situation, then contact a qualified and experienced financial adviser. They can help assess your situation and also assist you to compare competitively priced personal insurance quotes.

Author Bio: http://www.xLife.com.au operates Australia-wide providing a FREE online life insurance comparison service, allowing you to compare term life insurance & find the most competitive life insurance quotes.

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