ProfMoneyWise
Member
Life Insurance companies on an industry wide basis have begun to increase their rates for new life insurance policies. These increases, typically in the 3-7% range, have been announced over the past several weeks and generally take effect over the next 30-60 days. These increased rates do not effect policies that are currently in force.
The higher rates are occurring primarily due to the increased costs and reduced investment income the insurance industry has experienced during the recession.
The higher rates are occurring primarily due to the increased costs and reduced investment income the insurance industry has experienced during the recession.
