It may be time to start looking for a policy soon if you have been putting it off. The rates are going up with a lot of the term life insurance carriers after years of decreases in rates.

Many of the carriers are increasing their premiums by 5–15% and in many cases they are raising their rates more than that. Rates over the last decade have consistently gone down due to folks living longer, healthier lifestyles, and more competition. Many folks would re-apply each year and see a reduction in their rate. This is the time to lock in and you better do it quickly.

One strategy is to lock in for a longer term rate right now, such as 20 or 30 years. Shorter terms will probably have less popularity and consumers will want to lock into longer level periods. We can compare the plans on the market, by simply going to our quote engine and getting a quote at www.paramountlifeinsurance.com. Obviously, once you lock in the rate it can never go up until the end of the level period. Another option to look at is a permanent option that allows you an opportunity to lock into a permanent rate with whole life or universal life.