Life Insurance Rates
To find your lowest life insurance rates, search our online database:
U.S. and Canadian life insurance rates have dropped steadily for the past several years because of intense competition. The Internet has helped to accelerate this trend, with Web sites such as this providing instant life insurance rates information for consumers. Click on the link above, and then follow the instructions to obtain an instant list of life insurance rates particular to you.
We don't sell life insurance, so we have no reason to hide any information from your view. (Most Internet insurance sites sell insurance, and so they show you only the companies and rates which they can sell).
Recently this trend of lower rates has reversed itself in the U.S. On January 1, 2000, Regulation XXX ("Triple-X") went into effect in several U.S. states. This regulation, pushed by the National Association of Insurance Commissioners (NAIC), requires insurance companies to substantially boost the amount of cash reserves for any life insurance premiums guaranteed beyond 5 years.
Companies have responded to this regulation by raising rates for policies guaranteed for terms longer than 10 years. Following are some examples from our database for a $250,000 30 year term policy for a non-smoking male in very good health. At age 30 the annual premium went from $192.50 to $295.00; at age 40 it went from $335.00 to $492.50; at age 50 it went from $792.50 to $1,192.50.
You can still get the cheaper rates, but you no longer have the 30 year price guarantee. Most companies have reduced the guarantee period to 10 years; some have cut it to less than that.
According to Bob Barney, President of Compulife Software, Inc., "Before Triple-X consumers had a relatively simple decision because most of the competitive level term policies guaranteed their premiums for the initial level period. Now consumers are faced with a dilemma, whether to pay more to get the full premium guarantee or to pay less and take the chance that the company can be trusted not to raise premiums during the latter part of the level premium period." (EDITOR'S NOTE: We use the Compulife database to provide you with instant quotes.)
We periodically analyze the database for interesting examples, and we post them at this location. Our current example compares the difference in price between "standard" and "super-preferred" rate categories. Only a small percentage of consumers have the health and lifestyle features to qualify for "super-preferred" prices. Yet, many Web sites quote these prices without warning you about this. We are warning you; our purpose is to make you an informed consumer. We don't sell insurance.
Our current example shows annual premiums for a $250,000 20 year term policy for a non-smoking male of age 40 (only rates guaranteed for the length of the term are displayed):
Bookmark us now so you will remember to check back for other examples from our database. Feel free to click on any of the above links to find out more, including contact information or a request for quotes.
Please note that most companies will not sell insurance to you directly. Rather, they will refer you to an agent. We provide you with the opportunity to work with an independent agent, representing many companies and with access to our database. We recommend that you take advantage of this opportunity.
Thank you for visiting. We hope this information helps as you shop for insurance. Remember to get your lowest rates before you leave. For your convenience, here is the link again. Click it to find: