Life insurance for federal employees may soon be more expensive

Life Insurance Contracts

Some workers may find that their rates will be rising, but others will be seeing them fall. Just as federal employees just faced an increase in the premiums that they pay for long term care coverage, they have now discovered that some life insurance rates may also be rising for their policies in 2016. This latest change in insurance rates will affect a much wider number of people, as many opt out of LTC. According to the Office of Personnel Management (OPM), while some people will be seeing a rise…

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Life insurance companies could use iPhone apps to calculate rates

mobile smartphone health life insurance

Speculations are swirling about the use of data from health and fitness applications by insurers. As apps and gadgets focused on health and fitness tracking become increasingly popular, many are beginning to speculate that these tools could provide the life insurance industry with valuable data for determining the rates that they are charging individual consumers. In an idea that is similar to usage based auto insurance, iPhones could measure actual policyholder risk levels. Among the elements that have been introduced to the new mobile operating system from Apple is one…

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Life insurance premiums will be rising for older vets

veterans life insurance rates

Veterans who are over a certain age could soon find that their coverage is becoming more costly. According to a statement that has been released by Veterans Affairs Department officials, as of July 1, 2014, older vets will find themselves facing higher life insurance premiums for their Veterans Group Life Insurance policies. The increase will apply only to vets who are aged 70 years and older and it will be for 2.2 percent. This life insurance rate increase is the first one to have been put into place for veterans…

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Life insurance companies discriminate against marijuana users

medical marijuana insurance

A newly published report suggests that insurers require these consumers to pay more for policies. A website that provides consumers with life insurance quotes has now released a new report that suggests that people who use marijuana will usually have to pay more for their policies than people who do not. The report is drawing industry attention from both insurers, agents, and consumers alike. This recent news was published under the title “Marijuana Users Discriminated Against by Life Insurance Companies.” It was released on the LifeAnt website and explained that…

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Life insurance is now cheaper for vegetarians

India life insurance

A diet that no longer contains meat can now help to reduce the price for some people’s policies. A life insurance company from the United Kingdom has recently announced that it has created a special policy that is meant to reward vegetarians for their healthy lifestyle choices through lower premiums. These policies are being offered to consumers in the UK, and India is hoping to be included, as vegetarianism is common. The reasoning behind these vegetarian life insurance policies is that people who live this lifestyle tend to make healthier…

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Life insurance will be experiencing higher premiums for term policies

Life Insurance News

In an environment with low interest rates, the cost of the coverage is on its way up. According to the data that has been released by an online life insurance comparison agency, term policies are becoming more expensive and are slightly more difficult to find than they used to be. This news comes after a decade in which prices had been consistently plummeting to record lows. However, the latest research from IntelliQuote has shown that the premiums that are being quoted for term life insurance policies increased by an average…

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Insurance news of Japan’s premiums totals is surprising

life insurance news

Recent estimates show that 18 percent of the worldwide total for life coverage is from Japanese policyholders. The latest insurance news releases in Japan are estimating that the average life insurance premiums are approximately $5,300 (454,300 yen) per year. This is far higher than the global average for the same type of coverage. In fact, this insurance news indicates that Japanese life policyholders pay approximately 18 percent of the global total in premiums, even though the country represents only 2 percent of the worldwide population. The per capita spending, according…

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