How often will Scott review his CIC policy premiums under a reviewable premium basis?

In a reviewable premium basis for a Critical Illness Cover (CIC) policy, the premiums are typically adjusted or reviewed at regular intervals based on the insurer's assessment of various risk factors, including claims experience and changes in mortality rates. The common practice in the industry is to conduct these reviews every 5 to 10 years. This timeframe allows insurers to reassess the risk associated with the policyholders and adjust the premiums accordingly.

Choosing the range of 5 to 10 years also aligns with how life insurance and other long-term coverages operate, ensuring that the premiums remain aligned with the insurer's overall risk management strategies while providing policyholders a relatively stable period of coverage. Thus, the correct answer reflects standard practices in the industry for reviewing CIC policy premiums.