This News Just In!
Term Life Rates Are Starting to Climb!

In a July 20, 2004 article¹ , The Wall Street Journal reported that at least four term life insurers have already raised their rates. The article forecast rate increases of up to 20% by year end. Tougher underwriting requirements are also expected.

According to the article, the higher rates are indirectly caused by an arcane insurance regulation called “Triple X.” The regulation requires insurance companies to increase reserves for their term business. Many companies responded by shifting the reserve requirements to foreign re-insurers. Now some of these re-insurers are raising the rates they charge U.S. insurance companies, while others are tightening underwriting standards.

These rate increases reverse a downward price trend that began two decades ago. But there are still some good companies that have not yet changed their pricing or underwriting standards. The Wall Street Journal observed, “Term coverage has long been the least expensive and most straightforward form of life insurance.”

So now is a great time to lock in some great term life rates! Give Delta a call and we'll give you an immediate term life quote. And we will also give you some insights on when universal life may be a more suitable option.

1- Christopher Oster, Life Insurance Rates Start to Climb , Wall Street Journal July 20, 2004; Page D-1.

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