Stepped or Level Premiums?
With all cover you can take out stepped or level premiums
Stepped Premiums
These will increase as you get older due to your increased age, and therefore increased risk of claim.
Level Premiums
This is where the premiums will remain constant up to age 65. You pay a lot more now for cover, but in the long run will pay significantly less. Level premiums work very well when you know that you will need cover for a long period. Note that at age 65 the premiums revert to a stepped basis.
Note
The older you are when taking our level premiums the higher they will be when you enter. Eg a 35 year old taking level premiums will pay less than a 50 year old taking out cover.
Level premiums will remain completely constant each year only if you do not increase the cover with inflation. If you increase the cover the premiums will also increase.
Other Useful Pages:
Life Insurance premiums
Term Life Insurance Premiums:
These monthly premiums are
for various ages, both for Males and Females with $500,000 term life cover. The
quotes are for non-smokers (smoker rates are approximately double).
|
Age |
Male |
Female |
|
30 |
$28 |
$23 |
|
35 |
$32 |
$26 |
|
40 |
$40 |
$31 |
|
45 |
$60 |
$45 |
|
50 |
$100 |
$73 |
|
55 |
$180 |
$115 |
|
60 |
$340 |
$210 |
Total and Permanent Disablement Insurance (TPD):
Again these monthly premiums
are for various ages, both for Males and Females with $500,000 life and $250,000 TPD cover. The quotes are for non-smokers clerical based occupation (smoker
rates are approximately double).
|
Age |
Male |
Female |
|
30 |
$37 |
$30 |
|
35 |
$42 |
$36 |
|
40 |
$54 |
$44 |
|
45 |
$80 |
$65 |
|
50 |
$145 |
$115 |
|
55 |
$275 |
$215 |
Trauma Insurance Premiums:
Premiums
below are for $500,000 life, $250,000 TPD and $100,000 trauma cover for both
Males and Females. The quotes are for non-smokers clerical based occupation.
|
Age |
Male |
Female |
|
30 |
$48 |
$40 |
|
35 |
$55 |
$47 |
|
40 |
$75 |
$65 |
|
45 |
$115 |
$100 |
|
50 |
$205 |
$165 |
|
55 |
$385 |
$285 |