1. 63254 POINTS
    Peggy MacePRO
    CEO and Senior Agent, Outlook Life, Inc, Most of the U.S.
    Yes, unless they are guaranteed to stay "level", life insurance premiums can increase. One of the biggest factors on how much life insurance costs, is the length of time for which you lock in your premiums. E.g. If you buy a 10 year level term policy, the premium will be relatively low, but will only stay the same for 10 years. After that, the premium will increase drastically. However, if you buy a permanent policy with guaranteed level premiums, the initial premium will be higher, but you will never experience a rate increase. 

    When you are approved for a life insurance policy, you will see right at the front of the printed policy how long your premium is guaranteed to stay level, and at what point the premiums could/will increase. If you are nearing a point in your policy where your premiums will go up, you might want to take care of that now, as you may have options now that will not be available after the premium increase takes effect.
    Answered on December 13, 2013
  2. 4249 POINTS
    Gary LanePRO
    President, Lane Independent Agency, Southern California
    That depends on what you buy. If you buy term insurance, it can change each year, or if level term, at the end of whatever term you buy. Then it will go up since you are older and perhaps not healthy, and perhaps even uninsurable. That is why Whole Life is the best. It never goes up, ever. It is fixed for your lifetime, and builds up cash value, to even help you pay for it later on, or borrow against it for a home, or even for retirement. Call an experienced agent who can review your needs and give you the best alternatives. Gary Lane, Registered Agent, New York Life, 714 422 9616.
    Answered on December 16, 2013
  3. 14231 POINTS
    Tom SheehanPRO
    Agency Owner, The Thomas G Sheehan Agency, 27 Glen Road Sandy Hook, CT 06482
    They can, yes, depending upon the type of policy you have so it is important to talk with your Insurance Professional. Some older term policies for example were designed to be annually renewable (ART's) with each renewing year's premium increasing to reflect your attained age. These older ART forms have in many cases been replaced by the more modern "Level Term" policies. These policies are contracts that lock in the premium you pay from the begininning for a time certain, usually 10, 15, 20 or 30 years. At the end of that designated time period, the premium will then increase and usually dramaticaly not unlike a "balloon" mortgage to use an example.
    Answered on November 6, 2015
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