Level insurance premiums

Discussion in 'Superannuation, SMSF & Personal Insurance' started by Amaroo, 19th Aug, 2015.

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  1. Amaroo

    Amaroo Member

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    For the first time my husband and I have opted for level rather than stepped premiums for Life/TPD/trauma and insurance cover.
    Do you believe it is critical to choose to agree to increase the premium each year to match inflation?
     
    Amaroo, 19th Aug, 2015
    #1
  2. Scott No Mates

    Scott No Mates Well-Known Member

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    Depends upon how long you expect to live before claiming.
     
    Scott No Mates, 19th Aug, 2015
    #2
    miked likes this.
  3. miked

    miked Well-Known Member

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    Melbourne
    On the cost sheet I was shown, stepped is slightly cheaper for the first 15 years or so, but then increases exponentially. It is worst at age 64, where stepped is $19,500 compared to 9000 for level.
     
    miked, 20th Aug, 2015
    #3