The concept of repricing life insurance policy?

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Re-pricing focuses on the rate revision, there is no change in

existing benefit structure of the product. The rate revision is

necessitated due to several reasons. Some of the reasons are as

follows

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ü When the insurance company feels that the product is not sold as

expected then the insurance company will revise the rate to sell

the product.

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ü When the insurance company feels that the product does not give

profit as expected then the insurance company will revise the rate

to earn profit.

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ü When the insurance company feels that the product has more demand

then the insurance company will revise the rate to meet the

demand.

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ü When the insurance regulatory authority asks the insurance

company to revise the premium then the insurance company will

reduce the rate.