Many products will offer you a choice of two premium options :-
- Stepped premium varies each year according to your age, sum insured and the policy fee.
- Level premium will remain the same as when you took out the policy, except when the policy fee is increased by indexation or the sum insured is altered or if level premium rates are subsequently revised. The level premium option generally expires at a specified age. Level premiums are initially higher than stepped for the same sum insured for the first few years but become significantly cheaper after the policy has been in force for several years.
Please note this is an illustration only and does not reflect your personal circumstances.
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