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You asked: Will the payments on my life insurance policy change?
If you have a life insurance policy with decreasing cover or a life insurance policy with level cover, we guarantee that your monthly payments will stay the same for the duration of your policy, unless you decide to make changes to the policy.
If you have a life insurance policy that’s protected from the effects of inflation, your cover amount increases in line with any changes in the Consumer Prices Index (CPI), and your premiums can therefore increase annually. (Each year, the maximum amount your cover can increase by is 10%, and your premiums could increase by a maximum of 15%.)
If you choose to opt out of any changes to your cover amount, or if there is no increase in the CPI, your cover and premiums will remain the same.
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