I Have Selected Guaranteed Rates, but the Price Is Increasing Throughout Time on the Illustration?

38 views 20/01/2021 25/11/2021 0

Selecting Guaranteed means that you are told how much the price will be throughout the policy term at the start of the policy. Although it may increase, you are guaranteed the prices presented on the illustration.

This is significantly different from reviewable premiums where the insurer will change customer’s premiums depending on factors that are out of the customer’s control such as the insurer’s claims experience, medical trends, and insurer’s costs. Additionally, reviewable premiums can change by unknown, uncapped, and undefined amounts at each review.

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