Why Cheap Life Insurance Gets Expensive Later
Your bank tells you to take the cheap option on insurance. The part they don’t spell out is what happens when that “cheap” premium keeps climbing every year until it becomes the bill you can’t justify, so you cancel it right when you’re most likely to need it.
Rebecca joins us to break down stepped premiums versus level premiums in plain, practical terms for New Zealand life insurance. We talk through why stepped cover is so common with new home buyers, how age rated pricing and CPI increases can push costs up fast, and why the jump around your 40s and 50s can be brutal. Then we flip to level…
The skinny
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