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Life Insurance Premiums

At Lifebroker we like to offer our customers choice, and premiums are no different. With most of the insurance companies that Lifebroker deals with they tend to offer both 'reviewable' and 'guaranteed' life insurance premiums. Lifebroker cannot provide financial advice, however we can point out the differences.

Guaranteed Life Insurance Premiums
As the name suggests, guaranteed premiums never rise (unless you choose to have your policy inflation linked). Guaranteed premiums are generally higher than reviewable premiums, however they allow you to accurately budget for the cost of your cover.

Reviewable Life Insurance Premiums
Generally they are initially cheaper, however they may not be better value. Reviewable premiums are reviewed regularly, usually every five years, by the insurance company and can be reduced or increased depending upon their claims experience and other factors. From Lifebroker's experience the permiums for reviewable cover are normally increased.

Lifebroker has a full list of all the life insurance and income protection products that we offer here or,

click more to read about the life insurance product that interests you the most

Factors that Lifebroker have identified that life insurance companies consider when renewing your premiums will include:

  • claims (death and illness) experience, trends and expectations
  • expenses outside the insurance prodider's control (ie tax changes)
  • persistency (how long customers keep their products) experience, trends and expectations
  • future expectations of investment returns