Ever wondered how insurers work out the cost of your life insurance? There are many factors that can impact the premium you pay, but there are 4 factors in particular you need to be aware of.
Because health risks increase with age, life insurance premiums will generally increase over time. That’s why most insurers offer two common ways of paying for, and managing, the costs of your cover over time.
There are three main ways you can buy life insurance in Australia. You can buy Life Insurance through a financial adviser, direct from an insurance company, or it can be held inside your superannuation, which is the case for most Australians. No matter where you decide to purchase your cover from, it is important to start the process knowing the differences between these three options.
There are 3 key reasons why your life insurance premiums go up from year to year. While you can't control all of them, you may be able to take steps to lower the cost of your cover.
