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Hello. My name is Vic Schumacher. The company is HPE Financial Services. Recently, someone
called and said, "Why did my policy increase in premium? I haven't used it. Why did they
raise my premium?" Well, the first answer to that is you probably got older. As you
get older, premiums automatically go up. However, after the first twelve months of a policy,
after the initial rate guarantee is there, some companies will increase premiums by one
or two percent. Some companies will increase premiums by five or six or eight percent.
It depends upon the zip code that you live in and depends on how that insurance company
is regulated in the state that you live in. Premiums will increase primarily because of
age, but some insurance companies will raise premiums more than once a year, after the
initial twelve months. So you, I suggest you talk to a trusted adviser, have them understand
and explain to you what your needs are and have them direct you to the right agency,
the right company for your particular requirements. My name is Vic Schumacher, company is HPE
Financial Services, helping people everyday.