Will my monthly payments go up over time?
Yip, it’s likely that, from year to year, your monthly payment (also called your premium) will go up. Every year, we’ll do a recalculation of your premium, taking into account that you are a year older than a year ago 🎉 🎂.
We also take into account if your cover ☂️ amount has grown. These two factors will usually mean that your premium from year to year will increase. We will always give you the option to reduce your cover 🌂 at that point though if you'd prefer to keep your premium flat. And we would really want you to keep track of the amount of cover you need every year, and our AI will help you with this.
The good news is that when your premium goes up, we'll add more to your Wealth Bonus too 💰!