Life Insurance Premium Rates to Continue Downward Trend, Reports Insurance Information Institute

Premium rates for individual life insurance – both term life and “permanent” insurance – are expected to drop by three percent in 2006, driven largely by significant mortality improvements and increased competition, according to the Insurance Information Institute (I.I.I.).

For term insurance, this continues a generally downward trend begun several decades ago, although the three percent drop projected for 2006 is considerably less than the annual average nine percent drop in the last decade, said I.I.I. economist Dr. Steven Weisbart.

Life Insurance Premium Rates to Continue Downward Trend, Reports Insurance Information Institute
Source: Insurance Information Institute