Managing life insurance premiums as you get older

In this video Chris Brown, Financial Adviser from Chapters Retirement Partners shares how people over 50 should approach rising life insurance premiums, how to manage them and make an orderly transition away from cover over time:

See a licensed Financial Adviser for personal tailored advice.

Determine correct levels of cover based on current financial situation and needs.

Make tactical cover sacrifices or measured trade offs to alter the policies where possible each year, while not leaving yourself completely exposed.

Before implementing any policy changes- we generally recommend a health check with a doctor first to ensure there are no unexpected health issues that might mean an imminent claim could be made.

Get financial advice to divert any insurance premium savings in a smart manner towards your future - the right use of funds will be different for everyone but may include debt reduction, a regular investment plan and/ or additional superannuation contributions.