INSURANCE INFORMATION INSTITUTE
Contact: Press Offices
New York: 212-346-5500; media@iii.org
Washington, D.C.: 202-833-1580


NEW YORK, September 24, 2007 — Premium rates for individual term life insurance in 2008 are expected to drop, on average, about 1 percent from where they are in 2007, after many years of larger year-to-year reductions, according to the Insurance Information Institute (I.I.I.).

“The generally downward trend began several decades ago. Since 2000, term insurance rates have dropped about 4 percent per year on average,” said I.I.I. vice president and chief economist Dr. Steven Weisbart. “This follows an average annual 15 percent drop from 1994-1999. The effect of these drops drove the lowest rates available in 2007 to less than half of what they had been a dozen years earlier.”

A copy of the study is available at http://www.iii.org/media/industry/additional/life2008/

Those interested in interviewing Dr. Steven Weisbart should contact Mike Barry at michaelb@iii.org or 212-346-5542.

For more information about insurance, go to the I.I.I. Web site at http://www.iii.org .


The I.I.I. is a nonprofit, communications organization supported by the insurance industry.