Can you get permanent life insurance in Australia, yes you can get whole of life and endowment life insurance which are permanent, but they are rare and expensive $100 to $300 per month for $100K cover, with 95% of market term life $30 to $80 per month for $500K to $1M cover which is not permanent but renewable to age 99. Permanent life insurance means cover for whole life with cash value $10K to $50K after 10 to 20 years that you can cash in, unlike term life which expires at age 65 to 99 and has no cash value. In Australia, whole of life insurance available from TAL, AIA, Zurich, MLC for $100K cover costing $100 to $300 per month for 35-year-old, with cash value building $10K after 10 years, $30K after 20 years, which you can borrow or cash in. However, whole of life largely discontinued in 1990s due to high cost and low returns, with most insurers focusing on term life $500K to $1M for $30 to $80 per month, which is renewable to age 99 but not permanent with cash value, though you can keep to 99 if you pay premium which increases with age. For example, term life $750K cover $50 per month at 35, premium rises to $200 at 60, $500 at 80, so not permanent affordable. So you can get permanent life insurance in Australia via whole of life $100K cover $100 to $300 per month with cash value, but rare and expensive, with term life $500K to $1M for $30 to $80 per month more common and renewable to 99 but not permanent with cash value.
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