Life Insurance Rates: Why Now is the Time to Buy
Gary Lardy @
As one of the nation’s leading online life insurance agencies, we have helped thousands of consumers secure the life insurance coverage their families need. Having been in the industry for the past 15 years, we’ve seen many changes in the market. From rising and falling life insurance rates, to changing consumer behaviors to new products, we’ve seen it all.
What’s the next big shift? With interest rates at historic lows, insurance companies are facing financial turmoil and life insurance rates are therefore on the rise. In fact, a recent survey from Towers Watson found that 68% of life insurance CFO’s expect to see interests rates depressed for years to come. Insurance carriers depend upon investment income to remain viable. When investment returns are low companies are forced to in turn increase life insurance rates.
Lock in a Low Life Insurance Rate Today
Though learning of rising life insurance rates might make you apprehensive to purchase coverage, it’s in your best interest to lock in a policy before premiums continue to rise. The current state of the economy, which has lead to these low interest rates, does not show signs of change in the near future. In fact, the interest rate used to determine life insurance pricing assumptions was recently reduced from 4% to 3.5%; a move which again equates to higher life insurance rates.
Carrying adequate life insurance coverage is extremely important to the financial security of your family. Rather than sitting idly by as life insurance rates to continue to climb; we urge you to compare your options. As you age your life insurance rates naturally rise. Rather than waiting out the storm, and applying at an older age, now is the time to purchase the policy that your family needs.
Ready to get started? Contact us today. Allow one of our highly experienced, licensed agents to help you compare life insurance rates, coverage and more. We also encourage you follow our Life Insurance Blog; keep up with the industry trends that affect your premiums. While you’re here, check out these recent related posts:
Life Insurance Coverage & the Economy: Getting Back on Your Financial Feet
Why Life Insurance Might be Cheaper than You Think
Do you feel you’re getting a good life insurance rate?
A leading online life insurance agency since 1997, IntelliQuote provides customers simplified, private access to compare, shop and buy life insurance online, including term life insurance quotes. IntelliQuote offers clients a wide selection of competitive products from A-rated carriers, supported by licensed agents. This simplified approach makes purchasing a policy easy and straightforward while providing a savings of up to 70% per policy. IntelliQuote is a member of the LIFE Foundation and is committed to ongoing consumer education. For information on how to estimate how much coverage an individual might need, contact www.intelliquote.com, or 888.883.6855.