There’s a smarter way of structuring your insurance premiums.
Level Term Premiums
The choice is yours
Recent statistics indicate that many New Zealanders are cancelling their insurance policies due to affordability; only a few years before they are most likely to make a claim.
When you start a insurance plan (Life, Trauma, and TPD) you can choose between two types of premium: Rate For Age (also called “stepped”) or Level Term. The difference is simple – rate for age premiums start low and increase every year with age (as the likelihood of claiming increases), while level premiums don’t increase at all (unless your cover level increases). Level term premiums stay the same until age 65, or 80 – after this they change to rate for age.
The cost of Level Term insurance is calculated at the start of your policy and remains the same as you get older. Locking in your premium rate can save you tens of thousands of dollars over the lifetime of the policy.
Level Premium makes budgeting easy. You’ll know the cost of your insurance today and in the future.
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Level Premium options
- Trauma Cover: Standalone or 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 terminal illness or death
Thanks to the team at Rethink I’ve now got all my financial protection in place. I knew I needed some insurance, but didn’t really know what I needed or where to start. Jade explained every fine detail of the 3 different options she presented me. They also helped me with making a will as this was another thing I was putting off. I wouldn’t hesitate recommending Rethink and their services to my friends and family. Thanks guys.
More certainty in life
A combination of Level Term and Stepped Premium insurance will create long-term affordability and certainty. As you get older and the protection you require gets less, you can then reduce your yearly stepped insurance or drop it all together and just keep your Level Term Insurance.
Find out how much you could save with Level Term Insurance.