Age-based vs fixed premium option
Having the option of choosing an age-based or a fixed premium is just one benefit of a Seniors Funeral Plan so which one is best for you?
Age-based premium option
If you’re looking for cost-effective cover now, with an automatic increase feature, then the Seniors Funeral Plan has an age-based premium option.
Your premium starts lower and is calculated when you take out your policy and again at each policy anniversary.
Fixed premium option
If you are aged 50 to 79 and want that little bit of extra help managing your budget, along with the peace of mind of knowing your premium won’t change, then the Seniors Funeral Plan has a fixed premium option.
With the fixed premium option, your premium is calculated at the time of application, and your premium rate remains the same even as you get older. Your premium will only increase if you choose to increase your benefit amount.
As with everything else, funeral costs are also affected by inflation. With both age-based and fixed premiums your cover is automatically increased by 5% each year.
For a quote on premiums call 1300 474 194 or visit the Australian Seniors Insurance Agency.
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