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How to save on that dreaded premiums?

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.

  1. Taking out insurance cover with family members or a business group means you can qualify for packaging discounts.
  2. Have the government pay some of your premiums.
  3. Pay annually to save on premiums.
  4. Bundle your cover and save.
  5. Save on stamp duty on your standalone TPD and Trauma cover by attaching a small life cover.
  6. Opt for a long waiting period; the longer the wait the cheaper the premiums.
  7. Some cover is better than no cover, do the minimum ‘must have’ cover.
  8. Pay for premiums with before–tax money and save.
  9. Take cover within your super to get tax benefits.
  10. Stop smoking and pay cheaper premiums or improve your health so that any loadings will be reduced.
  11. Get all your family members and business partners insurance with the same provider. Doing so can save you up to 10% of premiums.
  12. Maximize size discounts by electing the correct size sum insured.
  13. Save on stamp duty on disability plans by combining it with a life plan.
  14. Nominate benefits to be paid in instalments as premiums are cheaper.

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