Over the last decade, term insurance rates have been at an all time low. In 2012, new term insurance policy premiums rose on average 3%.

The main reason for the increased rates are the poor yields on bonds and low interest rates where the life insurers place their premium dollars.

The hardest hit sector for term life insurance is the longer, 30 year term policies. Rates for 30 year term policies are up approximately 5%. Some companies have pulled out of the 30 year term insurance market completely.

When shopping for term insurance, it is important to work with an independent brokerage such as Set for Life Insurance where you can spreadsheet the lowest premiums available.