How to save on that dreaded premiums?
What strategies can you use? Our adviser will be able to tailor one for you. Here are some useful tips; some are straight forward whilst others will require careful consideration with the help of an adviser.
- Taking out insurance cover with family members or a business group means you can qualify for packaging discounts.
- Have the government pay some of your premiums.
- Pay annually to save on premiums.
- Bundle your cover and save.
- Save on stamp duty on your standalone TPD and Trauma cover by attaching a small life cover.
- Opt for a long waiting period; the longer the wait the cheaper the premiums.
- Some cover is better than no cover, do the minimum ‘must have’ cover.
- Pay for premiums with before–tax money and save.
- Take cover within your super to get tax benefits.
- Stop smoking and pay cheaper premiums or improve your health so that any loadings will be reduced.
- Get all your family members and business partners insurance with the same provider. Doing so can save you up to 10% of premiums.
- Maximize size discounts by electing the correct size sum insured.
- Save on stamp duty on disability plans by combining it with a life plan.
- Nominate benefits to be paid in instalments as premiums are cheaper.