For the past ten years term insurance prices have been pretty steadily declining. A combination of competition, product selection and mortality experience improvement has driven term rates to an all time low.

Now the front has shifted to the universal life insurance market. With the advent of the no lapse guarantee UL several years ago, the foundation was laid for what amounts to a term for life product. No longer are affordable prices only available for those with term insurance needs. Today, those with permanent needs can have guaranteed products at a fraction of the cost they would have paid even 5 years ago.

The beauty of these products isn’t just confined to the price. Here you have a universal life product that is finally all about the guarantees. These products are so good that even the crooked agents of the past that relied on covering up the guarantees and showing only the assumptions, can openly and honestly present products and expect a positive reaction from the consumer.

The other great feature is the guaranteed level premium to 100 (or shorter pay terms if you want), with a death benefit that is guaranteed usually to age 120. No outliving that one.

Bottom line. If you have avoided permanent coverage in the past due to price or lack of guarantees, time to find an independent agent that can help you discover the new price war.