The monthly premium rate of every Bowtie's customer is set based on actuarial calculation with historical data and a number of factors which include but not limited to:

1. Bowtie's previous claims and renewal experience
2. Medical cost inflation and expected future medical cost (applicable to medical insurance)
3. Any applicable benefit amendments

Of course, your monthly premium would also be affected by your ages, occupation and health conditions when you apply for the policy.

Premium increases annually due to the insured's age. Additionally, Bowtie may from time to time adjust the standard premium rates in response to overall claims experience and market factors like medical inflation. However, such premium adjustments will never be affected by the following individual reasons:

1. The insured's claim history
2. Illnesses diagnosed after the policy is in effect or changes in the insured's health
3. Other personal factors

Please note: The above annual adjustment does not apply to Bowtie Term Life (5/10/20 Year Plan). As long as the Sum Assured remains unchanged, the premium will stay fixed within the benefit term, and will only be adjusted to a new fixed rate based on your age at that time  when the benefit term ends and the policy is renewed.