Can Life Insurance Premiums Increase? 
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 . 