The Sky is Not Falling – But Term Life Insurance Prices Are!

UPDATED: Feb 25, 2020

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Two life insurance companies from QuickQuote’s marketplace recently announced reductions on their term life insurance policy premiums.

ING ReliaStar Life Insurance Company

ING ReliaStar Life has reduced premiums by as much as 13% in some cases. The average decrease is about 3% in most cases, with rates increasing slightly in some cases.

ING ReliaStar Life also introduced a 25-year term length to its existing coverage options. And finally, the maximum issue age for all term life insurance policies was increased by five years.

“The aggressive new pricing, the addition of the 25-year term policy and the extension of the maximum issue age are all tremendous enhancements made by ING ReliaStar Life,” stated Tim Bain, QuickQuote President. “The company is once again showing why they are a leader in the term life insurance market and proving their desire to remain so.”

The Savings Bank Life Insurance Company of Massachusetts (SBLI)

SBLI has also reduced term life insurance premiums on its 20-year and 30-year policies. The company stated the changes would once again make the company’s 20-year and 30-year term life policies some of the most competitive in the life insurance industry.

“SBLI will continue to be a low-cost leader in the market, as these current rate changes reaffirm that commitment,” Bain noted.

Premium rates from both of these A-rated companies can be viewed here.

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