Pakenham, Cranbourne & Beaconsfield
Enquiries and Appointments (03) 9067 6999
Get these statistics on Living insurance, (stuff you don’t have to die to make a claim on, includes Income Protection, Trauma and Total and Permanent Disability)
One insurer reports 46 as the average age at claim, another 46.5 and another 49.
Guess what age people are on average when they cancel? Yeah, you guessed it 45!
I converted my cover to level premiums when I hit 45 but there are other ways to maintain SOME cover when the premiums start to rise rather than cancelling just when statistics say you are going to need it!
By Trevor Thompson.