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What are guaranteed and renewable premiums?
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Guaranteed premiums mean that the price you pay will not change during the term of the policy, so if it starts at £35 per month it will always be £35 per month. Reviewable premiums are the opposite, your premiums are generally reviewed every 5 years and give the insurance company the opportunity to increase your premiums if, for example, they have suffered from higher than expected claims. However your plan will not be re-underwritten so any changes in your health will NOT affect your premium.
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