Wall Street Journal Reports on the Rising Cost of Term Life Insurance

The Wall Street Journal recently reported that insurers are raising premiums on term life policies. Premium increases averaging 5% to 15% started in January and are sweeping through the industry.

Why is this happening? With the cost of borrowing money increasing, and their investments yielding lower returns, many large insurers have no choice but to raise the price on Term Life Insurance. Among the insurers that have announced rate increases are ING's ReliaStar, Prudential Financial and Lincoln National to name a few.

A Word to the Wise "Get off the Fence"

If you've been on the fence about buying or changing your life insurance coverage our advice is to make your decision now. Postponing your decision could cost you tens of thousands of dollars over the course of your life insurance policy.

Spectrum Direct can help you navigate the application process and get the coverage you need more efficiently because we understand the details of applications and approvals for all personal situations. We can get you covered often in as little as a few minutes but if more time is needed, we can get it done faster and more efficiently saving you time and money as well as worry.

Today's Insurance is Not Your Parent's Program

Buying life insurance is no longer as simple as 10 or 15 years ago. Insurance companies want to know much more about your lifestyle, health history and even things like your driving and credit records. Every insurance company has slight differences in how they evaluate and approve your policy. That's why it's important to work with Spectrum. We know the insurance companies and work closely with them to get you the best value, as quickly as possible.

Give us a call today and learn why Spectrum should be your first and only choice for your life insurance needs.