Why do you need to know how much I earn a month?
Your income 💰 influences your premium for underwritten insurance and helps us offer you the right amount of insurance.
For underwritten products (life insurance), we ask your income for two reasons:
- It influences the premium you will pay for insurance benefits. Believe it or not, your income is a good indicator of how risky it is to insure you for some things.
- Our algorithm generates a cover amount according to your income, so that you don’t have too much or too little insurance.
For funeral insurance, we only ask your income to make sure that what we offer is affordable for you.