Life Insurance Rates Continue to Drop

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Term life insurance rates are continuing their downward trend. These lower rates are shown at the unique lifeinsure.com anonymous and instant life insurance quoting engine.

A recent study showed that rates for individual term life insurance and permanent life insurance (whole life and universal life) will likely drop by 3 percent in 2006.

This is because people are living longer (what the insurance business calls "mortality improvements) and also because of competition.

One will be able to see these improvements instantly on the http://www.lifeinsure.com insurance quotes engine as these changes come about.

Term life insurance rates have been in a downward trajectory for the last 20 years or so.

The biggest rate reductions that we have seen have been for the most healthy people who don't use tobacco which the life insurance companies call the "best risks".

The lowest rates available in 2005 are more than 50 percent lower than term life insurance rates from a decade ago.

There are two major types of life insurance; permanent life insurance and term life insurance. Permanent life insurance is called "permanent" because unlike term life insurance it is either guaranteed to last for life (whole life insurance) or projected to last for life based on interest rates and other factors (universal life insurance).

Over the last few years there have been other new factors introduced into the life insurance market besides the lowering of cost. For example, there are now universal life policies now that overcome a deficiency that used to exist in these kinds of policies - that, unlike whole life, they could lapse if interest rates fell or the cost of insurance increased. Now, universal life insurance can be guaranteed with a "rider" (extra) that guarantees that the universal life policy will last for a number of years or for life no matter what happens to interest rates.

The http://www.lifeinsure.com site includes detailed information on all these types of life insurance and also survivorship life insurance which is a very popular estate planning tool recommended by attorneys and financial planners.

The site also has the unique feature of giving access to the term life insurance and return of premium life insurance rates data base on an anonymous and instant basis.

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Richard Reich
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