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New level premium options offer more flexibility

At Asteron Life, we want our customers to be confident that they can keep their Life Cover in place as long as they need it. For many people, long-term affordability will be the most important factor influencing their ability to keep cover in place.

That’s why we’ve introduced a range of new level premium options for our SmartLife, Personal Insurance and Business Insurance life insurance policies.  

Level premiums mean that customers will know how much their premiums will cost them, up until the age they set them to – and these premiums won’t increase with age unless the cover changes.

We now offer the following options:

Level Premium Options

Personal Insurance

Business Insurance

SmartLife

Level to age 50

New

New

-

Level to age 60

New

New

New

Level to age 65

New

New

New

Level to age 70

Existing

Existing

Existing

Level to age 75

New

New

New

Level to age 80

Existing

Existing

Existing

Level to age 100

New

New

New

Level premiums explained

Asteron Life offers two different types of premium structure:

Stepped premiums start lower, but increase each year based on your age.

Level premiums begin higher, but the cost is locked so they don’t increase as you age unless you change your cover.

To learn more about the benefits of both options, read more about structuring your premiums to suit your needs.

Mix and match for a tailored solution

Asteron Life’s level premiums give life insurance customers certainty about how much their insurance will cost them, up to the age they select.

But we know that some customers may also want to keep the costs lower in the short term.

So we give customers more flexibility to parcel their life insurance into a mix of stepped and level options, to help them build more sustainable cover for the long term.

You can divide your life cover up into a combination of:

  • Up to three level premium options
  • Two level premium options with one portion of stepped premium

Example:

Sarah* is taking out $600,000 worth of Life Cover to ensure her family and her debt will be taken care of if anything happens to her. She could structure it like this...

  • $370,000 stepped – to cover her shorter term reducing needs e.g. mortgage
  • $200,000 level to age 65 – to support her husband in his retirement and pay ongoing debts
  • $30,000 level to age 100 – for final expenses and bequests

Level to age 100 - cover that's there when it's needed

Level to age 100 allows customers to leave a legacy for their family - the savings and certainty provided by level premiums make this much more obtainable. Best of all, once they reach 100, premiums cease but their cover will stay in place.

To find out more contact your BDM.

 

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