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Life Insurance Discounts

Get increasing levels of discount for increasing levels of life cover.

This means you pay less for each dollar of life cover the higher your cover is. Depending on your age and gender, and how much cover you choose, you can pay as much as 55% less for each dollar of life cover than you would pay if your cover was only $100,000.

Chart 1 provides an example of this. It shows the percentage reduction in the cost per dollar of life cover for a male age 30 for various levels of cover up to $1,000,000, when compared to the cost per dollar for $100,000 in cover. For example, the cost per dollar for $250,000 in cover is 30% lower than the cost per dollar for $100,000 in cover. The corresponding reduction for $500,000 in cover is 48%, and the reduction for $750,000 in cover is 52%. This indicates a ‘sweet spot’ for cover of $500,000.

Chart 1

Percentage Reduction in Premium per Dollar of Cover for amounts of cover in excess of $100,000
Male, Age 30, Non-Smoker

Percentage premium discounts

What Does This Mean?

What this means is that you can apply for higher levels of cover for a very small increase in your premium. For example (and using the example above), if you were thinking about applying for $400,000 in cover, you could increase that to $500,000 for only $3.80 more per month.

This is why three options are shown when you click on ‘Get Quote’ from a green quote box. Option 1 provides premium details for the amount of cover you select, but Option 2 and Option 3 provide premium details if you increase your cover by a further $50,000 and $100,000 respectively. You can then see that for just a small extra premium you can significantly boost your cover.

And not only that, but the extra premium will attract a 25% Cash Bonus too.