subject: Life Insurance - The Scenario [print this page] Day by day people all over Australia are becoming interested to life insurance policies. Life insurance policies can be classifies into 4 categories- term policy, universal policy, whole life policy and endowment life insurance policy. Usually a life insurance policy holder can insure his or her life for a particular term. If the policy holder dies before that time period is up (except suicide), named beneficiary or his estate receives a payment. But if it is not so he receives nothing. Normally suicide is excluded from all types of insurance policies. If the insured commits a suicide within first 2 years, the insurer should return the premium already paid. But death compensation will be paid if the suicide case occurs exactly after the 2 years of starting insurance.
Life insurance companies now offer individual health insurance & life insurance products for people who have chronic medical condition. Now individual health care insurance can be found affordable for those people who were uninsurable previously.
Life insurance companies have developed newer and affordable health insurance policies, medical plans and easier opportunities for those previously uninsurable. We provide you a unique opportunity to compare rates of all the available alternative options for your desired life insurance policy. Now you need not to go from company to company to know their rates as well as terms and conditions. The Australian government has taken steps to secure life insurance policies for all. But people who are able to go for a private life insurance policy should try for a private one as it offers a great range of services than the government provided life insurance policies. And by this they can let people who are unable to purchase private life insurance policies to purchase govt. provided one.
The objective of insurance policies is to provide support in any disastrous situation. Life insurance is the most common and popular form of insurance policies all over the world. A life insurance policy is intended to assist a person or a group of people who are in a great distress like illness, accident, retirement or death. Or it may also have an intention to accumulate a cash fund to set up a business or to pursue some other purposes. It may even pay the expenses for the funeral if it is conditioned so at the time of the deal. The payment may be done at a time or in annuities.
by: Adam Smith
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