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Guaranteed or reviewable premiums?
silverfoxuk
Posts: 122 Forumite
Does it make much difference what you take? There seems to be a few pounds difference between the two premiums. Do insurers regularly hike up reviewable premiums as time goes by?
I'm about to take out Life Insurance and Income Protection via an IFA. To 'keep costs down' he's suggested reviewable premiums.
I think i'd probaby like the certainty of the premiums being the same throughout the term, so might ask him just to go with guaranteed ones, knowing that i'll be paying a few pounds more a month.
Am I missing anything here?
I'm about to take out Life Insurance and Income Protection via an IFA. To 'keep costs down' he's suggested reviewable premiums.
I think i'd probaby like the certainty of the premiums being the same throughout the term, so might ask him just to go with guaranteed ones, knowing that i'll be paying a few pounds more a month.
Am I missing anything here?
0
Comments
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Guaranteed every time where budget allows. Providers have increased the premiums on reviewable plans in the past and with premiums not far off the all time lows of a 3/4 years ago, it is sensible to go guaranteed.
Life assurance guaranteed premiums should match reviewable as there are no concerns at this time but CI and PHI guaranteed premiums would be higher.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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