It is a fact that life insurance premiums have dropped since the 1990′s. In fact, the drop is so severe, that the old and time worn advice about never replacing a life policy, may need to be re-examined. Of course, everybody should do their due diligence first, and make sure they are trading apples for apples, or if they are trading apples for oranges, that they understand and accept the exchange! OK, enough about fruit…..
For instance, term life insurance for older people is being sold at older ages, and at cheaper rates. If you were 50 years old in 1998, and purchased a 20 year term policy, you may do better to pick up a new 10 year term policy today, and that is even with you being 60 years old now.
What caused cheaper life insurance rates then? Well, insurance is very competitive, and insurers have found ways to cut the costs of marketing and distribution, as well as the requirements for physicals. In fact, you can find many term policies with reduced pysical requirements, or even no medical exam term life insurance.
Americans are also living longer, and transportation safety requirements have cut the accident death rate. When you look at life insurance rate improvements, it’s all good! So use a safe, fast, and free online life insurance quote form to compare rates from the comfort of your home pc!
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