Premium rates for individual term life insurance in 2008 are expected to drop, on average, about 1 percent from 2007 after many years of larger year-to-year reductions, according to the Insurance Information Institute (I.I.I.).
"The generally downward trend began several decades ago. Since 2000, term insurance rates have dropped about 4 percent per year on average," said I.I.I. Vice President and Chief Economist Dr. Steven Weisbart. "This follows an average annual 15 percent drop from 1994-99. The effect of these drops drove the lowest rates available in 2007 to less than half of what they had been a dozen years earlier."
From the March 01, 2008 issue of Agent’s Sales Journal • Subscribe!
Life Insurance Rates Expected to Drop in 2008
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