Can the life insurance premium change during the tenure?

Can the life insurance premium change during the tenure?

Yes, it is possible for the premium on a insurance policy to change during the policy's tenure. There are several factors that can influence the premium on an insurance policy, including changes in the policyholder's risk profile, changes in the insurer's underwriting practices, and changes in external factors such as laws and regulations.

For example, if the policyholder experiences a change in their personal circumstances, such as getting married or starting a family, this could affect their risk profile and lead to a change in the premium. Similarly, if the insurer changes its underwriting practices or adjusts its pricing structure, this could also result in a change in the premium.

It is important for policyholders to understand that premiums can change and to be prepared for the possibility of such changes. It is also a good idea for policyholders to review their policies regularly and to discuss any potential changes with their insurance company.

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