Change your lifestyle.
If you are a smoker, you can reduce your premium by close to half if you quit. After 12 months you can sign a Non-Smokers Declaration and remove the smoker penalty premium!
If you participate in dangerous activities through either work or play, changing this could also impact your premium.
Review your policy on a regular basis.
Believe it or not, but this is not only an effective way to reduce your premium, but also can provide better options as the products evolve.
Always a good idea to read the PDS and compare the Products.
Make annual payments.
This usually saves around 1 months premium.
Don’t be discouraged by the application process.
With many online companies promoting “no mandatory medicals” or offering cover without asking questions, there will always be escape clauses for pre-existing conditions or non-disclosure. This is their escape clause to not pay out. It is always recommended to proceed with full medical underwriting. And always, always tell the truth. The whole truth and nothing but the truth. That way you won’t be disappointed at claim time.
Assess future possibilities with your spouse.
These options could include downsizing your home in the event of a serious accident or illness. It could also include moving closer to family support.
Choose trustworthy companies.
The Market is shrinking, but the major players are still providing quality products.
Use a Broker if you need help.
A licenced Broker will be able sift through the various offering and provide you with quotes for the cover you request.