by elishadai » Sun Nov 15, 2009 09:49 am
what is the meaning of 25% loading to standard premium of $3.30 per thousand per annum if the plan is $10,000.
can someone tell me actually how much it is. thank you
can someone tell me actually how much it is. thank you
Posted: Mon Nov 16, 2009 12:25 am Post Subject:
I believe loading refers to a increase in the rate of premium charged. In this case it means that a 25% increase would be applied to the standard premium of $3.30/ $1000 cover if the plan is for $10K cover. So instead of charging $3.30 you get charged $4.13 per $1000 cover.
This is probably to discourage people taking cover of this amount, you may find that this 25% loading is removed if you change the upper limit of your cover.
Add your comment