What is the difference between "Guaranteed Premium" policies and "Reviewable Premium" policies?

With a "Guaranteed Premium" your insurance company provides you with a guarantee that they will never increase your basic premium at any time. (If you elect to include Index Linking on your policy the cost will simply increase in proportion to the increase in the sum insured.)

With a "Reviewable Premium" your monthly premium will rise every time your insurance company reviews your premium (normally every 2 to 5 years - but this interval varies between insurance companies).

The monthly premium on a "Guaranteed Premium" policy is are initially more expensive compared to a "Reviewable Premium" policy - but Reviewable premiums usually soon catch up and, in the longer term, a Reviewable policy generally works out far more expensive. Nevertheless, if your budget is currently stretched, then a "Reviewable Premium" could well suit you.