The premium you pay may increase each year due to:

• regular age increases (if your policy has stepped premiums)
• some discounts cease during the life of your policy like the new cover reward discount
• any increase in tax, duty or charge introduced by government; and/or
• a fee for administering your policy is charged (currently we do not charge any policy fees);
• if your sum insured increases (including through the Indexation Benefit)
• You vary your policy, for example you add a new type of insurance; and/or
• We change the premium rates*

Each year we’ll send you an annual anniversary notice outlining your premium payable.

* The cost of your insurance cover is not guaranteed, and the insurer can change the premium rates. Decisions to change premium rates do not occur because of changes to an individual customer’s own circumstances, but rather are determined in relation to the group of policies.