Lock in your premium

You can keep your premium the same as the previous year by opting into the Premium Freeze benefit. This will reduce your cover amount for the next year. This may help with your budget right now. If you’re not eligible for Premium Freeze, you can still choose to reduce your cover at any time.

What you need to know

The amount of cover you have (sum insured) affects how much you pay.

Depending on your premium type, your premiums may increase as you get older or if your cover increases.

To keep your premiums the same, your amount of cover needs to reduce.

The amount you need to reduce your cover by depends on various things including benefit type, age, and gender.

If you have more than one benefit on your policy, all eligible benefits will reduce by the same percentage.
If you ask to make this change, we will send you a quote within seven business days. You can review the quote before you decide. Note: The premiums remain the same for one year.

What you need to consider

Think about your personal situation before changing your cover.
If you reduce your cover now and want to increase it later, you will need to apply again. This process involves underwriting and approval.
When you reapply, we will look at your health, pastimes, and financial details.
You might not be able to get extra cover or it could cost more.
After you submit your request to reduce your cover, we’ll give you a quote to approve.
This change will lock in your current premiums for one year.
If you’re unsure, we suggest speaking to a financial adviser or contacting us.
This is a summary only and you should refer to the PDS for full details.

What happens next

Submit your request to lock in your premiums for one year.

We’ll send you a quote to approve.

More complex needs?

You should also speak to a financial adviser if, for example:

You hold a policy through a Self-Managed Super Fund (SMSF),
You have a policy owned by a company, or
You have more than one person insured under the same policy.

If you don’t have a financial adviser, you can follow the link below to find one.

Take control of your insurance

Stop automatic increases

You can choose to stop your cover from going up each year with inflation and save up to 5%.

Learn more >

Pay yearly

Switch to annual payments and save up to 8%.

Learn more >

Quit smoking

Tell us if you have quit smoking for 12 months and you could save up to 50%.

Learn more >

Change your TPD option

Switch from Total and Permanent Disablement cover with an “Own Occupation” definition to TPD with a narrower “Any Occupation” definition and save up to 45%.

Learn more >

Switch to TPD CORE

Switch to TPD CORE and save up to 20% on your TPD premium.

Learn more >

Review your cover

Check if your cover still fits your current lifestyle and needs with the help of a financial adviser.

Learn more >