Term Life Insurance Rates to Decrease Slightly

The Insurance Information Institute (III) recently reported that premium rates for term life insurance are expected to decrease slightly in 2008. The expected drop would be approximately 1 percent on average from 2007 premium rates.Between 1994 and 1999, term life insurance rates saw an average annual drop of 15 percent. Since 2000, term life insurance rate decreases have slowed to an average of about 4 percent per year. The expected decrease of 1 percent in 2008 would be the lowest decrease in over 14 years. There are several reasons life insurance companies have been able to decrease rates on term life insurance over the past decade plus. One reason is improvements in mortality. Simply put, death rates have consistently declined for all age groups in the primary life insurance buying ran