All three of Empire Life, Wawanesa Life, and Western Life have changed premiums on their Term to 100 products, effective today.
I’m always a bit of a cynic when companies implement price ‘changes’. When they lower premiums, there are press releases, bands playing and fireworks. I didn’t see any of that happening this time, I think it’s safe to assume that by ‘price changes’, they mean price increases. That’s right – three of the more competitive companies in Canada have increased their term to 100 premiums all on the same day.
It’s a trend that I don’t see changing anytime in the future. If you’re thinking permanent insurance either now or in the future, now’s the time to lock in those rates for the rest of your life.