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Picture Book · Insurance

Two ways to pay for the same cover

Story pages

A couple in their early thirties sitting on a front verandah with two different coloured mugs
Meet Ella and Ben. They're comparing two ways to pay for the same cover.
A friendly cyclist
Insurers set premiums based on your age, health, job and lifestyle.
A staircase in a garden with each step slightly taller than the last
Variable age-stepped premiums are recalculated at each renewal based on your age, so they usually rise as you get older.
A gentle sloping ramp in a garden beside the staircase
Variable level premiums start higher, but changes aren't based on your age, so increases generally happen more slowly.
Autumn leaves blowing across a garden path between the staircase and the ramp
Neither type is guaranteed. Premiums may change every year.
The couple walking together along a long tree-lined avenue into the distance
Think about how long you're likely to keep the cover, and read the PDS before choosing.

The end

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General advice warning. This picture book is general information only. It does not take into account your objectives, financial situation or needs, and it is not personal advice. Rules and thresholds change. Before acting, consider whether it is right for you, read any relevant Product Disclosure Statement and our Financial Services Guide, and seek personal advice. Past performance is not a reliable indicator of future performance.

Information as at 27 October 2026. Sources:

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