Released on: December 5, 2007, 1:33 pm

Press Release Author: Alexei

Industry: Financial

Press Release Summary: The end of 2007 is a good time to evaluate your life
insurance needs. Maybe you started a family in 2007; or got married, divorced, or
retired? As your life changes, so do your life insurance needs. Evaluating your life
insurance needs can help you find the coverage that is right for you. Another good
reason to evaluate your life insurance needs is that life insurance rates are
expected to drop in 2008.

Press Release Body: The end of 2007 is a good time to evaluate your life insurance
needs. Maybe you started a family in 2007; or got married, divorced, or retired? As
your life changes, so do your life insurance needs. Evaluating your life insurance
needs can help you find the coverage that is right for you. Another good reason to
evaluate your life insurance needs is that life insurance rates are expected to drop
in 2008.

Rate Predictions for 2008

The Insurance Information Institute (I.I.I.) estimates the annual premium for a
40-year-old male non-smoker buying a $500,000 20-year level term life insurance
policy in 2008 will be about $725 if he qualifies as a \"standard\" risk and $350 if
he meets the more stringent requirements of a \"preferred\" risk.

Rates for women and younger people would be lower. For example, the comparable rate
for a 40-year-old female non-smoker would be about $600 for a standard risk, and
$300 for a preferred risk.

Why Life Insurance Rates are Decreasing

Life insurance rates have been dropping the last couple of years as the life
expectancy rate has continued to increase. The Center for Disease Control reports
that the average life expectancy is up to 77.8 years. As Americans are living
longer, life insurance providers are rewarding their consumers with lower rates. The
I.I.I. also reports that life insurance companies are running more efficiently,
lowering their expenses in their offices and field offices.

Buy Life Insurance When You\'re Young

Many people may feel they don\'t need life insurance when they are young. While your
financial needs may be lower at a younger age, the rates are also substantially less
expensive when you\'re young. Remember, the goal is to cover your primary assets so
should something happen to you; your beneficiaries would be able to persevere
financially. The best advice is to lock in as much protection at a young age while
your health is good and the price is right.

Buy Only the Life Insurance Coverage You Need

Many agents may try to sell you more coverage than you need. The purpose of life
insurance is to \"indemnify\" (replace financial loss), and what most people should be
looking for is income replacement for their beneficiaries. Independent financial
planners recommend the following rule of thumb: purchase an amount of coverage equal
to 6-10 times your annual gross income. Review your policy often

Once you have a life insurance policy, you should review it at least once every
three years, if not more often. Rates may be lower, and your circumstances may have
changed, necessitating more or less protection. If you are replacing a policy, make
sure you allow enough time to get your new policy in place so your coverages won\'t
overlap or lapse.

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Contact Details: USA, New York