Life insurance premiums
Life insurance premiums are repayments that are paid into a fund, from which claims are paid out. There are two types of premiums, guaranteed and reviewable. Guaranteed premiums means the premiums you pay will always stay the same whereas reviewable premiums can fluctuate.
Most people tend to choose guaranteed premiums as the steady rate proves cheaper overall and a dependable monthly repayment can be easier to manage manageable. Those looking for a cheaper short term deal should opt for renewable premiums.
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