Life insurance with a guaranteed premium ensure premiums will not change throughout the course of your life insurance policy. This can be beneficial if you want to be secure in the knowledge that your costs will be the same each month over the duration of the insurance.
Many companies offer the choice of opting for a fixed monthly guaranteed premium or a reviewable sum depending on whether you wish to change your level of cover or type of insurance.
There are many advantages and disadvantages that could be considered when deciding if guaranteed or reviewable premiums are best for you. For example, some may say that reviewable premiums are more expensive in the long run, whereas other would say that the ability to start reviewable premiums at a very low cost is appealing.
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