No body likes to get a price increase letter from their insurance company, but most of us will get one.
Did you know that in your 50’s you can be getting increases of about 15% per year ?
This means that your life insurance is going to double in price every 6 years.
Think about it, paying double what you are paying now, its not a nice thought.
Wouldn’t it be nice if there was a fixed price life insurance premium you could have that takes away the surprise of an increase each year.

The reason your Life Insurance is increasing is because the most common type of Life insurance policy that you own automatically increases in price every year.  This type of premium is called “rate for age” or “stepped” and most life insurance policies sold today will be this way, the premium is linked to your age, so the older you get the more expensive your Life Insurance becomes.

When you arranged the Life Insurance the person probably didn’t even explain that you had an option on how the premium is calculated. You may find this annoying, and rightly so, the price of your insurance will start off affordable, but will eventually become very expensive. So over the life of the policy you will pay a lot of money.
Thats great for the insurance company, but not so great for you.

But there is another option, and its called a level premium, Level Life Insurance or Fixed price Life Insurance Premiums.

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Redundancy Insurance Cover in New Zealand is an insurance policy that will pay you a monthly income if you get made redundant from your job, but how much does Redundancy Insurance cost?

It is a common misconception is that it is a very expensive type of insurance.  The cost will vary depending on how much insurance you arrange.

A redundancy insurance policy is a type of agreed value income protection insurance. Each insurance company uses a calculation to work the amount of insurance they are prepared to offer you.

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After sick leave and annual leave have run out, it would take only one month for 55% of Kiwi households to be unable to pay all their expenses and maintain their lifestyle.

Are you one of these households?

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Redundancy Insurance Protection is an insurance policy that will pay you a monthly income if you get made redundant from your job.

It will not pay you if you get fired, or decide you don’t want to work anymore, you must get made redundant to be able to make a claim.

If you took out Redundancy Insurance at some point in the past and you are made redundant, the insurance company will start paying you money at the beginning of every month to help keep you afloat financially until you get another job.

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