Did You Know There Are Two Ways to Plan Your Life Insurance?

Life insurance is the cornerstone of providing financial security for your loved ones, so it’s important that we understand it. When it comes to finding the right policy though, navigating options can feel like deciphering a complex code. EasyProtect keeps things simple and puts you in control, which is why unlike most insurance providers, we offer two distinct premium structures: fixed and age-related.

Level Premiums

A level premium is the steady Eddie of the insurance world.

It offers a consistent price you can budget for throughout the life of your policy. Think of it like your favourite pair of jeans – reliable and comfortable, year after year.

Age-related Premiums

An age-related premium, on the other hand, can be more dynamic.

It typically starts lower, offering some financial breathing room early on, and increases as you age. Imagine a new home - initially maintenance costs would be low, but as your home ages (you age), maintenance needs and costs increase. With age-related premiums, insurance premiums increase to reflect the increased risk associated with age.

So, which path is right for you? Let's explore who might benefit from each option:

The Budgeting Pro:

Pros:

• Level premiums are your perfect match. You know exactly what you're paying, making financial planning a breeze.
• Long-term savings. Young and healthy? set your premiums at a low rate that’ll pay off as you age.
• This option is ideal if you're risk-averse and prefer a locked-in cost, especially if you're nearing retirement.

Cons:

• Initial costs: Initially, premiums can be higher than their age-related counterparts. Think of it as an investment in future stability.

The Early Investor:

Pros:

• Age-related premiums can be a strategic choice for younger individuals. The lower initial cost frees up cash for other priorities, like building an emergency fund or saving for a down payment.
• This might be a good fit if you anticipate future income growth that can comfortably offset any premium increases.
• Great for short-term cover, perfect if you're seeking temporary coverage without a large upfront investment.

Cons:

• Increases with age, like fine wine, the cost increases with age.

 The Key Takeaway

The best premium structure ultimately depends on your unique financial situation and goals. Life insurance should be about peace of mind, not another source of confusion.

Embrace the power of choice! Get a personalized quote online in less than 3 minutes and find the premium plan that builds a strong foundation for your financial future.

EasyProtect Life is a life insurance product underwritten and administered by Sanlam Life Insurance Limited, a licensed life insurer, and is offered exclusively on the EasyEquities platform for distribution by EasyEquities. EasyEquities is an authorised FSP, registered credit provider and licensed ODP.