Choosing this option on your Life Insurance application means that your premium cannot be increased by the insurer due to its own risk experience during the guarantee period. For example, if you select a 5 year guarantee period and the insurer has excessive claims in year 3 for whatever reason, they cannot increase your premium to cover potential losses.
Keep in mind that if you ask for an annual benefit increase, your premium will still increase annually in line with the benefit increase percentage you chose.
The same applies if you selected a "premium pattern" Click here to read more about premium patterns.
TRIARC is an authorised financial services provider FSP45009. TRIARC insurance products underwritten by Guardrisk Life FSP76. Council of Medical Scheme
Number ORG 4040.