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Average life insurance rates are steady entering 2022

Added 01-24-22 08:04:02am EST - “Monthly life insurance premiums were stable entering the new year, according to Policygenius data.” - Foxbusiness.com

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Posted By TheNewsCommenter: From Foxbusiness.com: “Average life insurance rates are steady entering 2022”. Below is an excerpt from the article.

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Monthly life insurance premiums were stable entering the new year, according to Policygenius data.  (iStock)

The life insurance industry has kept prices stable entering 2022, according to Policygenius. Most non-smokers saw small rate increases of less than 1% between December 2021 and January 2022, while smokers didn't see any changes in their monthly premiums.

Average life insurance premiums have stayed steady despite a rise in mortality related to the coronavirus pandemic. Death benefit payouts rose 15.4% in 2020, according to the American Council of Life Insurers (ACLI). However, Policygenius data suggests that consumers don't have to worry about rising life insurance premiums at this time.

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