Premium loading
An extra charge added to your premium because underwriting identified higher-than-standard risk.
Definition
A premium loading is an underwriting outcome where the insurer accepts cover but charges more than the standard rate — typically expressed as a percentage uplift (e.g. +50% loading) or a flat extra premium. Common reasons: health conditions, family history, hazardous occupation or hobby.
See also
- Underwriting — The insurer’s assessment of your application before the policy is issued.
- Exclusion — A specific event or condition the policy will not pay out for.
Not personalised financial advice. Definitions are editorial framings of how the term is used across NZ life cover. Your specific policy wording is the authoritative source.