Stepped Vs Level Premiums

Stepped vs Level Premiums

Life insurers will generally offer you the choice to have either Level or Stepped premiums, or a combination on their policies.

The type of insurance premium structure you choose will affect the initial cost as well as the total cover over the life of the policy. You have a choice when it comes to paying insurance premiums: stepped or level.

But what does that mean and which one is right for you? There is no one-size-fits-all answer as both policies will be suitable for different types of policyholders.

We aim to lay out both the benefits and drawbacks to stepped and level insurance premiums, that proves the question is not complicated; in fact, it offers consumers greater choice in protecting their loved ones. Use this guide to help you make a more informed decision about which option is the best fit for your unique lifestyle, needs, and circumstances from now and into the future.