Revision of insurance premiums considering higher average life expectancy

POSTED BY Tanmay Dutta ON September 18, 2013 3:59 pm COMMENTS (2)

I am thinking about buying a term insurance plan. Recently I was informed by some insurance company that the insurance premiums are supposed to increased from 28th August 2013, because the insurance companies will calculate the premiums based on recent mortality rates (which reflects that average life expectancy has increased significantly). Is it true?

2 replies on this article “Revision of insurance premiums considering higher average life expectancy”

  1. ashalanshu says:

    Dear Tanmay, please do not fall into the trap of agents. The IRDA has asked to revise the products and in new products (mainly investment linked traditional plans), the commission has been reduced. Rest you can understand on your own for this last minute push. (I hope so).

    Thanks

    Ashal

    1. Tanmay Dutta says:

      Thanks Ashal for the info.

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