For generations, people have always asked, “When is the best time to buy life insurance?”  Although the most common answer is usually “Once you start a family”, the correct answer is “It is always a smart time to buy life insurance”.  However, there are many times in history where you could get a better rate (aka better deal).  Similar to fluctuations in money markets, certificate of deposits, and other financial vehicles that change as outside forces such as interest rates change, life insurance is no different.  So it is time to stock up on life insurance today?  And what kind of insurance?

Term life insurance rates have been falling for years.  In fact, they are near all-time lows today and many have claimed they have finally hit bottom.  And here is why – due to the low interest rates (that don’t seem to be moving up anytime soon) insurance carriers aren’t making the kind of returns they would like to see on their bond portfolios.  As they are forced to invest in bonds during these wild low interest rates, it almost forces them to start raising the cost of insurance.  We have heard a few carriers who have already made the decision to raise term life insurance rates anywhere from 5 to 10 percent.

So if you are even considering life insurance, especially term life, now is a great time to buy!

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