The Insurance Information Institute reported today that life insurance rates will decrease again in the year to come. The prediction is that one will be able to obtain life insurance for 4% less in 2007.
The report states that the decades long trend to lower rates is in line with the 5% average annual drop in life insurance cost that started in 2000. The report goes on to say: Life insurance rates are dropping because death rates for the 25-44 age group ”the primary age range for purchasing life insurance” have decreased significantly over the past 10 years, Dr. Weisbart pointed out. In 1996 the death rate per 100,000 for the 25-44 age group was 177.8; by 2004 it had dropped to 161.8 (preliminary data, National Vital Statistics Reports).
That is nearly a 10 percent drop in the death rate in less than a decade for the prime insurance-buying ages.” One can check an instant life insurance quoting service like lifeinsure.com to see how this drop in rates would apply to you.