Family term life insurance and income protection in Perth, Western Australia

Insurance is a big deal in Perth, Australia, and term life insurance should be an integral part of your insurance plan as well. Some people generally get what’s called term life insurance for themselves automatically from their employers, as well as other forms of insurance. But is it best to just have it for yourself? Absolutely not! No matter what you hear from media outlets, family term life insurance is equally important so your whole family is also covered, and we’ll explain this as well.

What is Term Life Insurance?


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Term life insurance is a policy that is set for a certain length of time. It doesn’t really accumulate a cash value and only pays out when the insured person dies while the policy is in effect. It’s quite different from “whole life insurance”, as it’s only for a certain duration. The best benefit though is that you can generally pay less because you’re not paying for the entire duration of your life for it. You pay at certain intervals, and it only lasts for a certain number of years before you have to reinstate it.

Why Choose Term Life Insurance?

Hey, accidents can happen. From traffic accidents and even illnesses that can seriously affect your family, you want to make sure they’re covered. Also, accidental death at a workplace is another form of life insurance that you can have, because it can benefit you and your family. If you choose family term life insurance, you can know that your entire family is covered, whereas single life insurance is based on just those that you decide to have insured (usually just yourself, or a solo plan for someone else in your family). The downsides to this, is that if you don’t have your whole family covered, then when something happens you may not be able to cover things like their funeral, or even help when money is tight after a family member’s death.

How to Protect Yourself

There are many places that you can purchase family term life insurance, but you want to consider those with the best rates and premiums. While you can’t count on cashing it out like a loan later on (as you can with whole life insurance), but you can rest assured that you can avoid the financial bind that your entire family could face, should you lose anyone in it. The most common methods are to include your wife and children in these policies, and this will greatly help them later on down the road. Also, some places when you sign up for term life can even show as positive payments on your credit report in some places.


When you’re wanting to choose the right coverage for your family, you can rely on certain companies like Life Insurance Perth to provide every different type of insurance you may need. However, as we mentioned in this article, your best bet is to make sure that everyone’s covered. With term life insurance, you can actually save more money in the long run by ensuring coverage for your entire family with them rather than the higher rates for whole life insurance policies.

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