Asteron won’t hike premiums despite better benefits

Asteron Life rolls out policy improvements and clearer definitions, saying it will absorb extra costs to keep premiums steady.

Asteron Life is improving its insurance policies without hiking premiums, while other insurers have put prices up throughout the year.

The insurer has rolled out better benefits and clearer policy wording this month, but says it will absorb the extra costs rather than pass them on to customers. This is a different tack from competitors, with some insurers announcing multiple price rises in 2025.

"We are proud of the fact that we've been able to keep our premiums consistent and haven't had to put through any of the large increases that our competitors have," says Michelle Randeson, manager - platform and products at Asteron Life. "We hear from advisers that customers are struggling out there."