When Do Life Insurance Rates Go Up?

When life insurance rates increase will depend on the type of life insurance policy you buy.

With permanent life insurance your rate remains the same for the entire life of your policy, which means for your lifetime.

With term life insurance it depends on the type of policy you purchase.

Level term life insurance has level rates that remain the same for the duration of your policy term - 10, 15, 20, 25 or 30 years.

Annually renewable term life insurance provides life insurance for a term of one year, which you can renew each year, but your renewal policy is based on your age at renewal, so the premium increases each year you continue your life insurance policy.

There are also "term to 70" life insurance policies that have level premiums the first 20 years you are insured, then the rate increases each year until you reach age 70.