Partners Life announces premium increase

More correctly, Partners Life previously announced an 18% increase, which is reflected in the present new business premium rates, and the update to this is to add 2% to both. Meaning the premiums for renewal from 22 July are 2% more at 20% as are new business premiums. Those that renew next year between the 18 and 20% rate change announcements will pick up this 2% and any further premium increases Partners Life announces between now and then. In a similar vein nib clients are receiving a 22% increase up to 1 July, and from 1 July legacy policy will cop an additional 11.6% taking it to 33.6%. Those legacy policies that have renewed before 1 July 2025 will then pick up this new 11.6% plus any further rate increases nib announces... The 12-month rolling nature of policy renewals with lumpy changes in premiums means that policyholders' mileage on their renewals will vary...