Is it best to have guaranteed or reviewable premiums?
A guaranteed policy is usually better value overall but
a reviewable policy will be cheaper at the outset.
With a guaranteed policy the premium you
pay will remain fixed for the duration of the policy.
If you have a reviewable policy, the premium
will be reviewed and increased at regular intervals (for example, every
2 or 5 years).
You’ll find that reviewable policies initially have
lower premiums but, over time, reviewable policies usually work out more
expensive than guaranteed policies.
We’ve found that many Insurance Companies have now
stopped offering guaranteed rates for combined Life Insurance and Critical
Illness policies. However it is still worth looking for such policies.
If our web site can find a Guaranteed Mortgage Life Insurance and Critical
Illness policy for you at a price you can afford, it would definitely
be worth thinking about.
Other relevant questions…
If
I’m asked to supply more information or go for a medical, will the
premium increase?
How much will it be?
Is Life Insurance for me?
What else do I need to know about Life Insurance?
How do I get a Life Insurance Quote?
How do I choose the right policy for me?
What if I need cover to be arranged quickly?
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How are premiums calculated?
What if I have to make a claim?
Do I need Mortgage Life Insurance instead?
Should I consider Critical Illness cover?
What other sorts of Insurance should I think about?
How do I make a complaint?
What do I need to know about the law and Life Insurance?
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