If your premium is 'Rated' it means that the insurance company have offered you a higher
premium than originally quoted.
This happens because when they provide the initial quotation, they assume the following:
- You are in good health for your age
- You do not have an occupation that can represent a risk to your health
- Your family does not have a history of hereditary ill-health
- You do not follow dangerous pursuits
- You don't regularly visit countries with known health problems
If you indicate that there is a risk of you making a claim because you dot meet all of
the above criteria, you will be offered a higher premium. In extreme cases, they may decline
to insure you.
To put this in context, only around 12% of cases are 'Rated', and the remaining 88% of
customers pay exactly the same as they were originally quoted.
If you do have any of the above additional risks, the insurance company will firstly ask
for more information. But even if the insurance company does ask for further information,
or even a medical - it doesn't necessarily mean you will end up paying higher premiums.
Many people who are asked for additional information or who have a medical still qualify
for the original premium quoted.
More Questions:-
|
