Stepped vs Level Insurance Premiums - Which is Best?

For insurance such as life, total and permanent disability or trauma cover, you may be able to choose between stepped or level premiums.

Understanding stepped and level premiums is vital to determine just how much money you’ll pay over time on your insurance policy. At Finluca we want to make sure you have the best option for your requirements.

Stepped premiums - Your insurance premium will increase each year as you get older but is usually cheaper in the beginning.

Level premiums - Your insurance premium does not change due to your age but is generally more expensive than a stepped premium in the beginning. Level premiums may increase over time due to inflation adjustments or changes to the insurer's fees.

How do I know which premium is right for me?

Getting the right premium from the beginning ensures that you’re getting the optimal Insurance policy for your circumstances.

Here at Finluca we take the time to review your situation to ensure you are on the right kind of premium.

If you need insurance advice, call us on 03 470 3267