Level premium options to age 65, 70, 80 and 100 are available on Life Cover and Terminal Illness Cover.  A variety of level premium options to age 65, 70 and 80 are also available on Trauma Cover, Severe Trauma Cover, TPD Cover, Income Cover, Mortgage Repayment Cover, Household Expenses Cover and Specific Condition Cover. 

At the end of the level premium term (on attaining the relevant age), cover does not end but continues at the same sum insured (not a sum insured reduced to that which would be covered by the current premium) on a yearly stepped premium basis, allowing the client the choice of reducing cover or maintaining it at current level.  

All level premium options come with three options for inflation proofing, No Indexation, CPI and CPI with a minimum of 5%. Clients with future needs for increases in cover will find the CPI with a minimum of 5% option particularly valuable, as premiums payable for annual inflation increases to sum insured will be charged at the rate for the age the cover was initially taken out at, not actual age at increase.  Annual inflation sum insured increases can be declined as often as required without prejudicing   the client’s entitlement to have monthly claims benefits increase annually (products paying monthly benefits) or future inflation sums insured increases.

Level premium options will be of interest to clients who need their cover for a long time and who don’t want to be faced with annual premium increases as they age.  Clients can combine their various covers with combinations of stepped and level premium as their needs dictate, creating maximum cover flexibility enhancing affordability at younger ages, when typically more cover is required,  while enabling affordability of core cover needed through to older ages.

Partners Life’s usual commission options and rules apply.