As a general rule, term life insurance has always been the cheap way to buy protection for your family. As the housing bubble began to grow twenty years ago, many people forgot the lessons of history. One of the key advantages has always been that the policyholder can lock in a low premium rate for the term. In common practice a patent runs out on a product and competition forces the price to drop. But the drop in the cost of term insurance is fairly unprecedented. It reflects increasing consumer resistance to paying high premiums for a product people hope never to use.
The matter is that the life insurers operate within limits of reasonableness they define. Although the Insurance Commissioners who oversee the insurers in each state lay down detailed regulations, a lot is left to the insurers. Quite often the Insurance Commissioners propose changes in regulations which aim to limit abuse of charges. Further, governments are becoming more interested in life insurance as a tax shelter. Just imagine, money paid into a life policy may never be taxed in the hands of the consumer or, if the insurers maintain high charges, in their hands as profit. Should these regulations come into force, all life insurance quotes are likely to rise but the term quotes are likely to rise faster. So to avoid being caught out, watch your local state for proposed changes and keep getting life insurance quotes. If you see rises, buy!
|Anytime you’re searching for Dubai telephone directory, you will have to get as much Dubai telephone directory info as you can.|