Zurich Insurance

Zurich Insurance was founded in Zurich, Switzerland and now has operations in over 60 countries around the world. For two consecutive years, Personal Investor Magazine hailed the company’s Protection Plus policy as the Term Life Insurance Product of the year.

Tower Australia

Tower Australia has been in the insurance industry for more than two decades now. The company also has an impressive list of awards under its belt, including Risk Company of the Year in Money Management’s Adviser Choice Risk Awards 2006, Best Term and TPD Risk Insurance in Money Magazine’s Best of the Best 2007 and Risk Insurer of the Year in Smart Investor’s Blue Ribbon Awards 2008.

MetLife Life Insurance

With over a hundred years of experience in the insurance industry, MetLife is without a doubt one of the oldest life insurance companies in the world. MetLife has millions of customers in Europe, America and Asia Pacific.

MLC Insurance

MLC handles the wealth management division for the National Australian Bank. Aside from providing life insurance policies, MLC also offers other financial solutions to businesses and firms.

Macquarie Insurance

Macquarie Insurance believes in quality and innovation when it comes to its products. This is why the company has launched the FutureWise program, which was developed using the company’s experience and expertise in life insurance.

OnePath Insurance

Formerly known as ING Australia, OnePath has been providing the country with insurance and financial advice for more than 130 years. OnePath offers superannuation, life insurance and income protection products.

AMP Insurance

AMP Australia is another leading provider of wealth management products and financial solutions in Australia and New Zealand. AMP’s products and services include insurance, investments, superannuation, banking and retirement solutions.

Asteron Insurance

Asteron is a member of the Suncorp Group, a company which has over seven million customers and more than $85 billion in assets. Asteron’s products include financial planning, income protection, life insurance, trustee services, superannuation and retirement incomes.

AXA Insurance

AXA Insurance is a proud member of the Global AXA Group which is one of the biggest financial service providers in the world. AXA Insurance offers wealth management, financial protection and life insurance solutions.

AIA Insurance

AIA Australia has been operating in Australia for more than three decades. The company is a member of the American International Insurance Company, Ltd. Aside from life insurance, AIA also provides retirement planning, wealth management advise, accident and health insurance.

Difference Between Group and Individual Life Insurance

You probably wish to know how a group life insurance policy differs from an individual policy. One of the most significant differences of group life insurance from an individual policy is that unlike the latter, group insurance does not take into account the risks associated with single individuals. For instance, it won’t matter that one member of the group is an avid outdoor enthusiasts who often performs risky activities like mountain climbing or sky diving. Instead, a group life insurance recognises the risk that is collectively associated with the group.

Who Pays For A Group Life Insurance Policy?

The payment terms for a group life insurance policy will depend on your company or organisation. Some companies pay the entire premium amount of their employees’ group insurance. In these cases, the insurance becomes a type of employee benefit. This actually benefits the company or organisation as well, since paying for a group life insurance costs considerably less than paying for policies of individual employees or members. There are also cases wherein employees or members are responsible for partially paying the insurance premiums. Even then, the policy is still much cheaper than a regular individual insurance policy.

Benefits of Group Life Insurance

A group life insurance can certainly offer several benefits for the individuals under its coverage. First of all, it is much quicker and easier to apply for a group life insurance since your company or organisation will be handling much of the paperwork. A group life insurance policy is also ideal if you have a pre-existing medical condition. Since you will not go through an individual underwriting, you will still be eligible for coverage.

Obtaining a reliable life insurance policy is certainly an important priority for any adult. To learn more about life insurance companies, feel free to browse this site. You may also check out the business listings located in the home page to get in touch with several life insurance companies around the country.

As a result of this dissatisfaction whole life insurance was designed by life insurance companies as a proactive solution to give policyholders some satisfaction out of investing in life insurance.

What is Whole Life Insurance?

Whole Life Insurance provides lifetime insurance coverage to the insured. The insurance premiums are usually paid monthly or annually and are divided into two parts:

1. Insurance coverage –the first portion of the premium covers the cost the potential need to pay out the insurance benefits.
2. Investment – a proportion of your premium is invested on your behalf which will generate interest and that you can call on for use in cases of emergency.

So, like any other type of life insurance, if a whole life insurance policy is executed it gives what is due to the insured parties as long as the insurance premium has been kept up to date. In addition to this, whole life insurance has the added benefit of the insured feeling like they are not only taking out coverage for the event of their own death. But, also making an investment into a fund that they themselves may benefit from in the future.

Why Choose Whole Life Insurance?

• Financial assistance for the family is assured in the event of death.
• In case of terminal illness, some companies offering this whole life insurance policy give the insured the right to use death benefits while still alive.
• Forced saving into a financial fund. Accumulating premiums and the interest on those already invested premiums make for a great way to save for large financial expenditures – like your child’s educational needs or when you need capital to establish a new business.
• To protect your family from financial crises in the event of your death and to ensure that their futures are provided for.

However, in choosing the best type of life insurance, you must evaluate all the pros and cons of the different types. For more information about whole life insurance, you are always welcome to submit your inquiry via the contact form below.

The aim of this site is to help Australians who are looking for information about life insurance and life insurance companies to easily find the information they require. With that, said here is a list of some of the more prominent Australian life insurance companies.

What is Life Insurance?

Life insurance, sometimes referred to as life assurance, is where an individual takes out an insurance contract where they pay a monthly premium to insure against the event of their death. In the event of an insured individual’s death, the insurer pays the death benefits to the nominated beneficiary.

The insurer or insurance companies often use the premiums of policy owners for business investments from which they profit.

Types of Life Insurance:

• Term Life Insurance.  This type of life insurance is limited to a specified term, often a 10, 20 or 30 year term.
• Whole Life Insurance. This type of life insurance offers lifetime coverage. The premium are normally higher, but are usually divided into two parts. The insurance company puts one part towards covering the likelihood of the need to pay death benefits and the remainder is used as an investment which will also earn interest.

How Much Does Life Insurance Cost?

The cost of every life insurance policy depends on the type, the individual and the amount of insurance being taken out. Term life insurance is the most affordable type life insurance while whole life insurance requires higher premiums to be paid. The frequency of premium payments also affects the insurance costs.

Generally, the total amount of the life insurance policy is for is the biggest factor in determining the monthly premiums.

Before an unexpected event happens to the bread winner, it is essential to insure the lives of your love ones especially your wife and your children. Because, they greatly depend on you, an occurrence of death will certainly make their lives miserable. To prevent that, it is advisable to choose a life insurance coverage which would support them in a length of time until they can recover.

Four Major Expenses Your Life Insurance Policy Should Cover:

1. Major Expenditures. It is recommended that you cover any large expenses that your wife and kids have. This should include a budget for your home (if it’s still unpaid), vehicle and other existing debts.

2. Fund for Emergency Cases. This emergency fund will be used for the expenses incurred during the adjustment period. Your partner will perhaps need to find a job or start a business to support the kids.

3. Budget for Education. It is necessary for every person to insure their children’s future education. Including an educational plan in your life insurance policy will secure their future.

4. Monthly Bills. You might want to insure for certain monthly bills and other expenses that would need to be paid prior to your partner finding a new job or establishing a new business.

Getting a Life Insurance Quote

Life insurance quotes are calculated using the details provided by the policy applicant to the insurance provider. The applicant is often required to give his age, gender and other personal information. Often information about health, unhealthy life choices and family backgrounds are also collected. Life insurance quotes usually include the terms and conditions of the policy and normally states whether the insurance is a term or permanent policy.