Will your premiums increase?

It depends upon whether you have a “Reviewable” or “Guaranteed” policy.

STEP 1 of 2
Type of cover
Life Insurance       Mortgage Life Insurance
 
Cover Level (£)

Number of years
Do you want:  
Critical illness cover
Family income benefit
 

Hot Topics

Are there any extras to pay?
Definitely not! There are no hidden extras when you buy life insurance through ClickLife our Life Insurance Partner.
Do I have to pay the Life Insurance Broker a fee?
Absolutely not! ClickLife, our Partners for Life Insurance, purely work on commission.
Will your Mortgage Lender charge a fee if you buy your Life Insurance from someone else?
No! By law mortgage lenders are not allowed to charge a fee if you buy elsewhere.
What correspondence can you expect to receive after your Application has been submitted?
It all depends upon what complications arise from the details on your Application.
Once you've got your quote, what's the next step?
If you decide to go ahead you’ll need to fill in an Application form.
With a “Guaranteed” policy the insurer guarantees that it will never raise your monthly premium.

If you have a “Reviewable” policy your insurance company reviews its premium at regular intervals - usually interval of between 1 and 5 years. This interval does vary between insurance companies and you should check their literature. At the Review date, your insurer has the right to increase your monthly premium and as you get older, increases will become more probable and larger.

As you might have predicted, when you first start a policy, the premiums for “Guaranteed” policies are higher than the premiums for “Reviewable” policies. However, through the review system the premiums for Reviewable policies can soon catch up and overtake.

In the medium to longer term we expect Reviewable policies to work out more expensive than Guaranteed policies. On the other hand Reviewable policies do have the advantage of a low start up premium and this appeals to many people.

Frequently Asked Questions related to the above topic.
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