What is Increasing Life Insurance?
Increasing life insurance, also known as index-linked life insurance, is designed to help your coverage keep pace with inflation. Unlike level life insurance, the policy payout increases annually, ensuring your loved ones receive adequate financial support, even as the cost of living rises.
Why Choose Increasing Life Insurance?
- Flexible Coverage: The coverage amount grows over time, keeping pace with inflation and your financial responsibilities. Whether it’s for paying off debts, covering your children’s education, or maintaining your family’s lifestyle, your loved ones will receive the support they need.
- Adaptable Premiums: Premiums increase gradually, making the policy more affordable when you’re younger. Many providers offer the flexibility to opt out of premium increases for a year or two if needed.
- Customisable Term Length: Choose a policy term that aligns with your financial goals, such as supporting your family until retirement or funding long-term expenses like education or mortgages.
- Income Replacement: Provide a dependable income replacement for your family, ensuring they can maintain their standard of living and meet financial commitments in your absence.
- Inflation Protection: With index-linked options, the payout increases in line with inflation each year, protecting your family from the eroding value of money over time.
