FAQ 2018-01-03T23:38:39+00:00
What is stepped premiums? 2018-01-07T01:23:41+00:00

Stepped premiums increase each year as you get older, but compared to level premiums is cheaper in the beginning.

What is level premiums? 2018-01-07T01:20:54+00:00

Level premium insurance is a type of life insurance for which the premiums remain the same throughout the duration of the contract. Most popular level premiums stay fixed for 10 years, until 70 or until 80.

Policy 2018-01-03T23:36:37+00:00

Policy is the document given to the Insured outlining all terms and conditions of the agreed insurance.

Non-disclosure 2018-01-03T23:35:58+00:00

This is where the Insured, either intentionally or unintentionally failed to disclose pertinent facts and information to the Insurer. Depending on the situation, this can result in a claim being declined or cancellation of the policy.

Lapsed policy 2018-01-02T05:25:19+00:00

A policy can lapse for two reasons (1) non-payment of premiums, or (2) when a policy is not renewed at the time that the term expires.

Indemnity value 2018-01-02T05:25:27+00:00

This is the value of an item at the time of loss or damage, accounting for its age and current condition.

Exclusion 2018-01-02T05:25:35+00:00

Certain events may be excluded from cover, and these are referred to as Exclusions in your insurance policy. It is important to clearly understand what your policy will NOT cover.

Excess 2018-01-02T05:25:43+00:00

This is the amount the Insured pays at the time of making a claim. It is usually a portion of the claim up to a value agreed in the policy.

Duty of Disclosure 2018-01-02T05:25:49+00:00

When arranging cover, the Insured has an obligation to disclose certain facts and information to the Insurer.

Cover 2018-01-02T05:25:59+00:00

This is all the events the policy covers the Insured for. When arranging an insurance policy, it is essential to understand the full scope of cover, i.e. what the policy covers and what it does not.

Commission 2018-01-02T05:26:06+00:00

The Insurer pays the Broker a fee at the time a new policy is established – usually this is a percentage of the annual premium.

Claim 2018-01-02T05:26:12+00:00

This is where the Insured advises the Insurer that a payment is required due to a loss covered by the policy in place.

Business interruption insurance 2017-12-03T00:56:04+00:00

Unexpected events such as fire can halt business operations for a short or long period of time. Business Interruption insurance covers fixed costs (and other costs depending on the policy) during the time the business is closed and also protects the owner from loss of revenue.

Broker 2017-11-30T21:59:01+00:00

A Broker is someone who you appoint to assess your needs and then organise insurance cover for you. Brokers work with a number of insurance providers, with the advantage of placing clients with Insurers which best suit the individuals requirements.

Annual premium 2017-11-30T21:58:02+00:00

This is the amount you pay each year for the agreed insurance cover.

Agreed value 2017-11-30T21:54:16+00:00

This is where the Insured and the Insurer agree the value of an asset / item at the time of establishing the policy. If something was to happen and a claim made, the Insured would receive the agreed amount, not the market-value as can otherwise be the case.

Aggregate limit 2017-11-30T21:55:41+00:00

Often this relates to Liability insurance and is essentially the total amount the Insurer will pay out within a certain time-frame, irrespective of how many claims are made by the Insured.

Loading explained 2017-11-30T21:49:21+00:00

Loadings – Where the premium is loaded because of a general increased risk

Can I change Insurance company? 2017-11-30T21:47:25+00:00


If you are considering changing or cancelling your life insurance policy, there are a couple things you need to consider. Let us help you review your policy. Get in touch today to discuss your options.

Who needs life insurance? 2018-01-02T05:26:35+00:00

If people are depending on you for financial support, then life insurance might be worth thinking about. If something happened to you, a terminal illness or death, a life insurance payout could help the people you love. Some use life insurance payout to help cope financially, paying any debt, such as mortgage and / or maintain their lifestyle, depending on what level of cover you choose.

What does premiums mean? 2017-11-30T21:49:57+00:00

Insurance premium is the amount of money that you and I, or a business must pay for an insurance policy. The insurance premium is considered income by the insurance company once it is earned, and also represents a liability in that the insurer must provide coverage for claims being made against the policy.

What is life insurance? 2018-01-02T05:26:44+00:00

It’s where an insurance company agrees to pay you an amount of money if you die or become terminally ill. In return you pay the insurance company regular, often monthly, amounts called premiums.