With GIO Funeral Insurance, you can pay your premiums in one of two ways: stepped or level premiums.

Stepped premiums are worked out by taking your age, gender and the sum that’s insured each year into consideration. They start out lower than level premiums, but generally increase each year as you get older. You can have up to $30,000 of cover when you pay by stepped premiums.

Level premiums generally start out higher than stepped premiums, but don’t increase in line with your age. Your age when you first take out the policy, your gender, and the sum insured are all used to calculate how much your premiums will cost. You can have up to $15,000 insured with level premiums.

Please note: Regardless of your choice between stepped or level premiums, we offer the Automatic Indexation Benefit, which increases your sum insured each year in line with inflation. Your premium will increase to reflect any increase to your sum insured. You can choose to not accept this increase each year.

Please refer to the PDS for full terms and conditions.