Meet Lauren (19 years old)
Lauren is a 19 year old student with default insurance.
Lauren’s Death and TPD cover amount is $50,000. The annual premium for this cover is $61.88 (weekly premium for a member aged 20 next birthday $1.19 x 52 = $61.88).
Her Death cover will eventually increase to $131,500 by age 34 when a higher level of death cover may be more relevant, however her TPD cover will remain at $50,000 until she reaches age 39, after which time it will begin to decrease over time.