Stepped premiums are calculated according to your age, gender and the sum insured each year your policy renews. This means you can begin by paying lower premiums, and then every year your premiums will increase as you get older.
Apia’s Funeral Insurance only offers level premiums – the premium you pay when you first take out the policy is based on your age at the time you started the cover. This is likely to remain the same for the life of the policy, unless you make changes to it or the underlying premium rates are changed by the insurer. However, you will never be singled out for a premium rate increase.
Learn more about Funeral Insurance