Life Insurance Rates Are Rising - Sell Now!
February 4, 2009 - Back to Deck's Page
Life Insurance Rates Are Rising – Sell Now!
We have been notified by several carriers of their intention to raise rates across the board for both term and universal life insurance. The most pressing forthcoming change centers around raising rates or lowering guarantees for no-lapse protection universal life.
The primary concern driving carriers to increase rates is, simply, long-term interest rates are extremely low, causing reserve problems with all insurance carriers, regardless of their financial condition. We have already been notified by two carriers of product changes or UL rate increases. This is a sea change from the past, when rates were being reduced due to competition and lower mortality table assumptions.
We highly encourage you to review your sales opportunities now, as rates will not be as attractive in the future. Please consult with us on both your term and universal life sales as soon as possible.
Deck McCormick
CEO
InSource, Inc.