Term Life Pricing and Design: A New Day?

Life insurers have been taking small steps to address the performance of their term life portfolios for the past few years. They have been tightening underwriting guidelines, raising rates in specific pricing cells and, more recently, increasing policy fees. But as a whole, they have avoided the big steps that would signal an end to the era of cheap term life insurance. Not anymore, it seems. Recent rate increases suggest the beginning of a new era for term life. This article looks at some of the driving forces behind the movement.

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