What's the difference between a “Guaranteed” and a “Reviewable” policy?

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With a Guaranteed policy the insurance company provides you with a guarantee that your premiums will not increase at any time during the policy's term.

With a Reviewable policy your insurer examines your premium at regular intervals (normally every 2 to 5 years but this varies between insurers). At each review the insurer has the right to increase your premium and invariably does!

In our experience, Reviewable premiums on a 25 year policy will exceed their guaranteed equivalent after about 8 years and thereafter become much more expensive.

 

 

 

 
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