Can I adjust the deductible options at any time?

  • Updated

Reducing deductible

While Bowtie Pink is in effect, the policyholder can exercise a one-off right to reduce the deductible, without re-underwriting and providing further evidence of insurability of the insured person once any of the conditions below is satisfied:

  1. Where the insured person’s age on the policy issuance date is 0 to 55:
    the policyholder makes the request to exercise such right not less than 30 days prior to the renewal date on or immediately following the date that the insured person attains the age of 65
  2. Where the insured person’s age on the policy issuance date is 56 to 75:
    the policyholder makes the request to exercise such right not less than 30 days prior to the 10th renewal date
  3. Where the insured person’s age on the policy issuance date is 76 to 80:
    the policyholder makes the request to exercise such right not less than 30 days prior to the renewal date on or immediately following the date that the insured person attains the age of 85

If you wish to reduce the deductible on any other renewal dates, we will re-underwrite your policy and you will need to declare an updated health status.

Increasing deductible

The policyholder has the right to request to increase the deductible without re-underwriting and providing further evidence of the insurability of the insured person not less than 30 days prior to any renewal dates.