The monthly premium for your critical illness insurance policy combines personal details such as your age, gender, smoking status, medical history, lifestyle and family history with the policy selections you make (term, amount, riders, etc.). The underwriting department will review your application and determine the appropriate rating for your policy. If you receive a standard rating, which is the most common result, your premiums will match your quoted price. You can also receive a preferred rating for a lower monthly premium, or an increased rating that results in higher premiums to match your elevated risk. As the policyowner, you get to make the final decision on whether you want to implement the policy after all underwriting is complete and your final monthly premium is determined.