Should you have a “Guaranteed” or a “Reviewable” policy?

With a Reviewable policy your monthly premium will rise when your insurance company reviews your premium (normally every 2 to 5 years but this interval does vary between insurance companies). In our experience, Reviewable policies tend to experience price increases slightly in excess of inflation.
As you would expect, at the outset the premium for a Guaranteed policy is higher than a Reviewable policy - but Reviewable premiums can soon catch up. In the longer term a Reviewable policy generally works out more expensive.
Just a quick point. Some insurance companies have stopped offering Guaranteed rates for combined Mortgage Life Insurance with Critical Illness cover. However, if you ask for a quote on a Guaranteed Life Insurance and Critical Illness policy - and ClickLife, our Product Partner, can source one for you - you should seriously consider it.