What has caused or allowed life insurance premiums to drop?

There are a number of different reasons premiums for life insurance may drop over time.

The premium for a life insurance policy is the amount you pay in return for the life insurance coverage on your life. The insurance company promises to pay out a death benefit to your beneficiary of you die, in return for your premiums you pay on your life insurance policy.

Premiums are based on several factors, including your age, health, occupation, hobbies, lifestyle, if you smoke, driving record, credit history, height-to-weight ratio, etc.

In addition, the type and amount of life insurance will have an affect on how much you pay for life insurance.

What can lower life insurance premiums?

Life insurance companies may lower their premiums over time if they have fewer claims, more people cancel their life insurance plans before dying, or people live for a longer period of time