A recent study says many New Zealanders are dropping their insurance policies as it has become unaffordable; only a few years before they are most likely to make a claim!
The cost of Level Premium cover is calculated at the start of your policy and premiums don't increase unless the amount of your cover increases. Locking in your premium rate can save you tens of thousands of dollars over the lifetime of your life insurance policy.
When considering Life, Trauma, Income Protection insurance, there are two premium options available to you: stepped or level.
Stepped premiums start low and rise as your age and the likelihood of claiming increases. Level Premium starts slightly higher but stays constant over the life of the policy.
Level Premiums makes budgeting easy as you’ll know the cost of your insurance today and in the future.
Level Premium options
Income Protection Cover: Receive monthly payments in the event of temporary disability.
Trauma Cover: Standalone and Accelerated – receive a lump-sum payment if you suffer a specified condition.
Total and Permanent Disability Cover: Receive a lump-sum payment if you suffer permanent long-term disability.
Life Insurance: Receive a lump sum payment to your estate or partner upon diagnosis of a serious illness or death
Life is full of surprises – insurance premiums shouldn’t be one of them.
A combination of Level Premium and Stepped Premium insurance will create long-term affordability.
Find out how much you could save with Level Premium Insurance.