Group life insurance premiums are based on the company experience, and subject to potential increase which are usually passed on to the group participants.
Individual life insurance premium may be subject to increase, but it depends on the product chosen, Term Life insurance, offers a guaranteed premium for a defined time period. Universal life insurance may require a premium increase in order to ensure the policy does not lapse. Whole life insurance, however, has a guaranteed level premium that never increases.
Individual life insurance premium may be subject to increase, but it depends on the product chosen, Term Life insurance, offers a guaranteed premium for a defined time period. Universal life insurance may require a premium increase in order to ensure the policy does not lapse. Whole life insurance, however, has a guaranteed level premium that never increases.
RSS Feed
