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The insurance company sometimes charges an extra premium in addition to the normal premium based on the level of risk, which is called loading.
Based on the medical and other information provided in the policy application, the insurance company assesses the risk associated with the application. If the insurer, based on its underwriting guidelines, believes that the risk is higher than normal, the insurer may apply a loading.
If the applicant agrees to the terms of the loading and makes the payment, the policy is issued by the insurer.
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C
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D
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L
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R
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