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Life insurance protects your family no matter what lies ahead, from the day your life insurance policy is purchased till you die, as long as your premiums are paid on the due date. You are able to build a long term financial strategy as life insurance is a solid foundation that guarantees lifetime protection for your family. Death benefits can be utilized for the survivals needs of your family, business needs, mortgage protection, charitable giving or wealth transfer. Australian insurance companies offer a variety of life insurance products, and each comes with a number of terms, options and conditions. The more comprehensive your coverage is, the more expensive the policy is. It is important that you have an idea of the type of protection your family needs, and that you read the small print on the life policy you are thinking of buying, and it is wise to invest time and compare life insurance options. You can make use of life insurance comparison websites such as Lifeinsurance.net.au to find the right insurance product that suits your needs. There are also several companies that offer their employees Death in Service insurance as part of the employee’s benefit package. However, you need to define the different between Death in Service insurance and private life insurance. Such insurance provided by employers is usually linked to your pension scheme. Employees are covered for around three to four times their salary, if the pass away while working for the company. The employee’s dependents upon death will receive a tax free lump sum. In some instances the surviving spouse will receive a regular income, should the employee die while still working for the company. Part of the employee’s salary can be insured as a pension. There are also special clauses pertaining to women, for instance women that are employed as opposed to women that are self employed, do not have the same life insurance benefits. Women that are self employed and have children, have additional life insurance protection. Having a life insurance policy in the event of death, the policy will ensure that the running of the home and caring of the children will continue. For instance the money paid out will be used to cover the immediate and future education expenses of the children and other family members will not have to carry this financial burden. The money will also provide for the children’s needs as well as cover the mortgage, funeral and other expenses. Single women need to be assured that in the event of their death their children or dependent will be financially secure. Remember that a solid life insurance policy is an important part of a healthy and strong financial plan for both men and women alike. The author of this article, Jaxon Kelly, is a full-time author on the subject of Insurance firms. Also, he has a particular interest in life insurance planning and write on compare life insurance. On behalf of several web sites owners he spends most of his time writing contents for web publication for life insurance quotes Australia in return.
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