Will my premiums increase?
Yes, your premiums will generally go up each year.
Most sum insured plans have an indexation feature which ensures that your cover keeps up with inflation. This means the cover can be increased by the rate of inflation each year.
Most premiums are also linked to your age and relative risk. As you get older the insurers risk of claim rises and so the premium rate goes up.
There are plans available that offer level premiums over a set period, e.g. through to age 80.
Talk to your advisor to find the best option for your circumstances.
