Life policy is the protection that pays a lump sum to your heirs in the event of diagnosis of terminal illness or death. It is also known as term life insurance.
Homeowners in Australia mostly owe a huge amount of debt due to mortgages. Among them, many are unprepared to pay off mortgages in the event of any contingency. Others are unaware or are not adequately cover to pay the death benefits in the event of death.
Life cover can help to pay off the mortgage. It is the financial security of your family. The lump-sum received from term life insurance can also help to finance your children’s education and the family continue their lifestyle when you are no more here.
An appropriate life insurance policy will give the peace of mind that your loved one’s future is protected financially.