When Life Insurance Rates, Consumers Get Creative
For the better part of a decade, life insurance rates have been declining, allowing policyholders to benefit from more affordable coverage. Unfortunately, it appears that their luck has run out. Life insurance rates are beginning to increase, but a recently published article on InsuranceAgents.com urges individuals to take advantage of the spike, not shy away from it.
“This turning point should signify to consumers that now is the time to buy life insurance (if they haven’t already) before it goes any higher,” the article, Life Insurance Rates On The Rise, states. “Consumers have enjoyed the low-and-falling life insurance rates for the better part of the last decade, and now will have to decide if they can afford life insurance now, while it is still affordable.”
Due to insurance companies’ weak profits, higher reserve requirements, increased capital costs, and the current recession, life insurance rates have increased from an average of two percent to six percent. Experts predict, however, that the rates will increase another 10 percent next year.
Don’t let this news scare you—affordable life insurance is still available. The best way to find some is by going online and comparing life insurance quotes.
“Seeking life insurance quotes online is the most efficient and convenient way to find affordable life insurance policies,” the article reports. “By comparing policies, rates, and insurance providers, you will better be able to find a company that works with you, offers the coverage you need and saves you money, too!”
If you still feel hesitant to make any decision, make an appointment to meet with a life insurance agent. His/her expertise will guide you into making an educated decision and allow you to save a drastic amount on you life insurance premium.
“By locking in the rate you want, you’ve guaranteed affordable life insurance and protecting yourself against possible rate increases in the future,” the article emphasizes.
Staff Contribution: Rafael Onak
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