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Frequently Asked Questions

I've heard that I should reapply for my term insurance because insurance rates have fallen so much over the last few years?

 Am I correct and why have term insurance rates fallen? Yes you're absolutely correct. Rates have gone down by 40% over the last few years, even from one year to the next the drop in the rates is substantial which answers your question about reapplying. 
The fall in rates today is not because rates were previously too high, instead it's because life insurance companies have become more efficient in several ways: 
ยท Computers and the Internet have made it possible for new rates and information to be passed on to the worldwide insurance community within minutes. It used to take a very long time, even years for every insurance agent to find out about every insurance plan. Now they know in the click of a mouse. The result of this is that the marketplace is much more competitive. 


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  Our life expectations are now much longer than ever before which means that death benefits paid out by insurance companies are being deferred for longer. The savings insurance companies are making are happily being passed on to the insurance customer as lower rates. 

The exceptionally low insurance rates you may have seen are those requiring very strict health criteria. It's not uncommon for only 10% of insurance applicants to meet the health and lifestyle requirements. 
All of this means that term life insurance rates are low at the moment and that you should compare your current insurance premium to ones available today. If you are still healthy or perhaps healthier (for example you've come off medication, your cholesterol count has gone down or you are now a nonsmoker) you may find an insurancepolicy that provides more coverage for less.


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Over the years our customers have asked us particular insurance questions. We have put these altogether to help you make intelligent buying decisions.