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Why your neighbour is getting a better insurance deal
- and what you can do about it!
Not all insurance policies are created equal – and when it comes to what you’ll pay for your policy, the final figure can vary dramatically based on your gender, age and lifestyle choices. Find out if you are getting the best deal.
Put simply, men pay more than women, older people pay more than younger people, and smokers pay more than non-smokers for the same insurance deal. Other factors which could see your policy price soar include high-risk occupations, health conditions and even single-parent families.
So when you consider the fact that the exact same insurance policy can cost up to 40 percent more from one insurance provider to another, it begs the question –
?
Regardless of your circumstances, it’s crucial to compare your policy to ensure you’re getting the best deal.
Take this example:
$1 million life insurance for a 55-year-old male, who is a non-smoker and works in an office in Victoria could pay as much as:
> Cheapest option: $ 270.51 per month
> Most expensive: 327.08 per month
​
The same insurance costs less for women, but differences are significant here too:
> Cheapest option: $ 187.63 per month
> Most expensive: $ 224.84 per month
$1 million life insurance for a 55-year-old male, who is a non-smoker and works in an office in Victoria could pay as much as:
> Cheapest option: $ 270.51 per month
> Most expensive: $ 327.08 per month
That’s a saving of almost $700 a year, made simply by comparing and
switching policies.
!
The same insurance costs less for women, but differences are significant here too:
> Cheapest option: $ 187.63 per month
> Most expensive: $ 224.84 per month
Example Quote
Monthly premiums compared
Could your policy be costing you hundreds, or even thousands extra each year?
Be smart. Compare your insurance & save.
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Insurance tips powered by Clear Choice Financial.
At Clear Choice Financial we believe in empowering clients with everything they need to know in order to make the right decision when purchasing life insurance and mortgage products. If you have any questions reach out and call 1300 599 512.