We’ve adjusted our premium rates differently across the various income protection benefit periods and premium types to try and keep increases down as much as possible given the financial pressures we’re all facing. The adjustments include a combination of increases and decreases. The in-force rate adjustments include:
- no change to our Lump Sum Life, Crisis Recovery and TPD premium rates or
- no change to our Income Protection CORE premium rates,
- some decreases to our closed series income protection premium rates for IP with a 1, 2 or 5-year benefit period,
- Reluctantly, there are increases to our closed series income protection premium rates for IP with a benefit period to age 65, 70 or lifetime benefits.