In certain cases insurance companies will apply a loading or exclusion (also known as revised terms) to a policy. This decision can be the result of a number of factors, including your medical history, if you have a dangerous job, plan to travel to a high-risk destination or participate in a hazardous pastime.
Insurance companies review the information provided in each application using a set of guidelines, called underwriting guidelines. This process determines whether a loading or exclusion will be applied.
If the insurance company applies a loading or exclusion, it is applied to the standard policy, which is outlined by the insurance company in the Product Disclosure Statement or PDS.
In some instances, an application for insurance will be declined if the nature of the risk falls outside of the underwriting guidelines.
When applying for Life Insurance, it is important to disclose any information that might be relevant, so we can work with you to find appropriate cover.
Eliza Ryan
Senior Manager for Growth Channels and Marketing, Lifebroker
Eliza Ryan is Lifebroker's Senior Manager for Growth Channels and Marketing, bringing over 9 years of specialised expertise in the Australian life insurance sector. In her role, Eliza drives strategic growth initiatives and manages key partner relationships that connect Australians with the life insurance protection they need.
With a deep understanding of the insurance landscape and consumer needs, Eliza is committed to making life insurance more accessible and helping Australians make informed decisions about their financial security. Her expertise spans digital marketing strategy, partnership development and customer engagement across Australia's leading comparison and aggregator platforms.
Outside of work, Eliza enjoys traveling, spending time at the beach, and getting lost in a good book.
Can Loadings or Exclusions Be Reviewed?
Yes, in some instances a loading or exclusion can be reviewed. Please ask your Lifebroker Insurance Consultant if this applies to your circumstances.
Lifebroker's commitment to you
If a loading or exclusion is applied to your policy, Lifebroker has a dedicated team of revised terms specialists that will work to try and find you a favourable outcome from our participating insurance companies so you can enjoy the peace of mind that comes with being protected.